Financial Services
73% of Members Moved to Self-Service Within 90 Days
A credit union serving 8,400 members had nearly all transactions going through branch visits. Two previous digital projects had failed with off-the-shelf software. We built something bespoke. Loan approvals went from five days to same-day.
The Challenge
What We Were Solving
The credit union served 8,400 members but almost all transactions required a branch visit or phone call. Loan applications were paper forms processed manually through a five-day approval pipeline. Monthly statements were printed and posted at a cost of 14,000 GBP per year. The board had mandated digital transformation but two previous attempts with off-the-shelf banking software had failed because the products could not accommodate the credit union regulatory framework and dividend calculation methods.
The Solution
Our Strategic Approach
We built a bespoke member portal designed specifically for credit union operations. Members can check balances, view transaction history, download statements, and submit loan applications online. The loan processing engine automates credit checks, risk scoring, and approval routing based on the credit union specific lending criteria. Dividend calculations follow their unique rules rather than generic banking formulas. The system integrates with their core banking system via a custom API bridge. All development followed PRA and FCA regulatory requirements.
What We Delivered
Deliverables
- Secure member portal with balance and transaction views
- Online loan application with automated credit assessment
- Risk scoring engine with credit-union-specific lending criteria
- Automated dividend calculation following bespoke rules
- Digital statement generation replacing postal delivery
- Core banking system integration via custom API bridge
- Member onboarding and identity verification workflow
- Regulatory compliance documentation for PRA and FCA
How We Did It
Project Timeline
Regulatory and Requirements Mapping
Documented all regulatory requirements, lending criteria, dividend rules and core banking integration points.
Portal and Loan Engine
Member portal, loan application flow, credit assessment engine, risk scoring and approval routing.
Banking Integration and Compliance
Core banking API bridge, dividend calculation engine, statement generation and regulatory documentation.
Testing, Audit and Launch
Security audit, regulatory review, member communication campaign, phased rollout with branch staff support.
The Outcome
Measurable Results
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