CUSTOMER SUCCESS STORY – UK’S LEADING LOAN PROVIDER

BREAKING DOWN THE BARRIERS TO FINANCIAL MOBILITY

Our customers vision is to breakdown the barriers to Financial Mobility, creating a community where people are rewarded and empowered to achieve their current and future money goals. With customers at the core, their loan products are designed to be inclusive, provide flexibility and help their customers build a brighter financial future. This transformation has provided exactly that. Our customers’ lending proposition encompasses everything that is woven into the fabric of the company they want to become - new products, new processes, new distribution models and most crucially of all - a new brand and culture.

The challenge

Our customer had a 15-year legacy technology infrastructure that had effectively supported their previous incarnation but was no longer fit for purpose in supporting the new vision.

Our customers systems were a complex mix of technologies that posed a risk to stability.
In-house disparate legacy technology which had key man dependencies with ineffective integrations.
Ageing infrastructure unable to support future growth.
Obtaining FCA approval for their new business offering was a critical step for our business. Being able to demonstrate that we had transformed our technology stack to one which has been purpose built to focus on the needs of our customer base played a massive part in that achievement.

Our customer had a 15-year legacy technology infrastructure that had effectively supported their previous incarnation but was no longer fit for purpose in supporting the new vision.

How we did it

Provide a consolidated, scalable and cost-effective system that would enable automation of significant portions of the current onboarding and post-acquisition activities.
Provide a real-time view of their customers, whether to provide additional loans, identifying potential bottlenecks in origination or service and being able to provide quick, data-rich, one-click reporting to the team at all levels.
Create a platform that enables the business to pivot to new offerings quickly and simply, without the need to drastically revamp the system.
Improve and standardise Customer Experience through automated communications throughout the loan origination and receiving.

The result

Company

Our customer’s purpose is to provide those with few options to borrow the opportunity to achieve Financial Mobility.

Our customer alongside VASS built a one-team approach, aligned to a Scaled Agile framework underpinned by a rigorous adherence to out of the box functionality and configuration to ensure long-term flexibility in the system.

Upon completion of phase 1, the programme replaced 8 legacy systems and disparate technologies, successfully creating a robust, scalable system for agents to manage the full lifecycle of the loan from onboarding, loan management to customer support while also providing a portal for self-servicing and sharing information on financial wellness to meet their customers needs.

“By utilising VASS’ expertise in digital transformation we were able to stand up the brand on an entirely new technology stack that was designed with customers at its heart. The guidance and knowledge provided by VASS gave us incredible value. It allowed us to design new processes from scratch with industry best practice at its core; all within a relatively short period of time that would not have been possible without their support”

Chief Technology Officer – Our customer, The UK’s Leading Guarantor Loan Provider

Technical

Technologies

Mulesoft

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