How We Helped SME Capital Streamline Their Loan Application Process
About SME Capital
SME Capital was established to support small and medium-sized enterprises (SMEs) that struggle to access capital through traditional lending channels. The company specialises in working with businesses that may not qualify for loans from conventional lenders or online platforms that rely on automated processes.
The Challenge
SME Capital sought to shift its business model from peer-to-peer lending to providing funds sourced from Asset Managers. However, their existing lending platform, built for the original model, required a significant overhaul to meet the new business demands. This new platform needed to offer greater self-service capabilities while continuing to support the current business operations during the transition.
Although SME Capital had an in-house technology team, they were unsure how to make this transition in a cost-effective and low-risk manner. They needed a trusted technology partner to help plan and execute a seamless transformation of their lending platform.
Why Evolved Ideas?
SME Capital chose Evolved Ideas after learning about our successful work with another client in the financial services sector. Our proven experience and deep industry knowledge made us the ideal partner to support SME Capital throughout the entire transformation process, from initial planning to design, development, and ongoing support.
Our Approach
We began our engagement with SME Capital by conducting workshops with key stakeholders to ensure a thorough understanding of their business objectives. This alignment was crucial for designing a technology solution that would fully support their goals.
Next, we assembled and managed a team of designers and engineers to develop the new platform. Our team created a comprehensive roadmap and worked closely with SME Capital's business experts to ensure that the platform development was closely aligned with the company’s needs.
During the project, we assessed the existing lending platform to identify the necessary changes for the new business model and to mitigate any operational risks during the transition. Our assessment revealed that some of the initial changes made by SME Capital had introduced instabilities into the platform. We addressed these issues as part of the overall development process.
The Result
The new platform was successfully rolled out within the planned timeframe and is now fully operational at SME Capital. Evolved Ideas continues to provide support and maintenance, ensuring the platform remains stable and aligned with SME Capital's evolving needs.
Testimonial
"We started working with Evolved Ideas more than 2 years ago, when we needed to start redeveloping our SME Loan Platform to meet the growing and ever-changing demands of borrowers.The team at Evolved Ideas are like part of the business, they understand what we do and they understand what we need before we realise we need it!"
Kate Kennedy CEO SME Capital