Mooply
CASE STUDY
FinTech Broker for Property Development Loans
Mooply helps clients trying to buy property quick entry to finance quickly.
It might be buying a funding property, auction, your small business premises, or growth land.
Mooply assesses your utility and matches it to lenders prepared to lend.
Lenders then compete for your small business making certain you obtain one of the best charges accessible in the marketplace.
Project:
Creation of an MVP to prove the concept of automated lending for commercial and residential bridging loans.
Project:
Creation of an MVP to prove the concept of automated lending for commercial and residential bridging loans.
The Challenge
- The current process for applying for bridging loans is very manual and requires lots of paper-based questionnaires/form filling.
- All documentary evidence had to be manually sent to brokers before sending to lenders – an overcomplicated process.
The Solution
- Creation of an online portal with a clean and customised UI for getting all necessary evidence from customers for application forms.
- Built integration data from Companies House to automate data collection around shareholding agreements, outstanding company loans and directors.
- Integration to Open Banking/credit reference data to automate data capture about applicant income details address details and credit checks.
- Automated lending decisions based on customised lender criteria.
Key Benefits
- Optimised business processes saving employee time and paperwork issues.
- Via automated notifications prompting applicants to provide additional information when required.
- Data storage is now in one central repository
- Access to up-to-date, accurate and real-time information.
- Improved client, contract and internal process management
- Improved audit trails providing information on historical, actual and future transactions
