West One Loans Case Study
The Challenge
West One Loans Ltd - Financial Management System, London. Users: Management, sales, admin, clients.
The company was a successful bridging loan provider but operated an array of different databases and spreadsheets. This was inefficient and error prone. Their goal was to become a penny perfect business and to have a single system that did everything.
RD Research developed a bespoke financial management system named Rialto for West One Loans prior to their acquisition by Enra Specialist Finance Group.
Designed for efficiency and scalability Rialto supports unlimited users, automates key workflows and integrates underwriting, investor management and regulatory compliance into a single platform.
The Development Process
We worked closely with West One management to define exactly what was needed for every aspect of the business; funding, servicing and reporting end to end. We then produced a detailed specification covering screens, workflows, roles, documents and MI.
All screens were created in wireframe before development work started. This gave everyone the opportunity to comment and discuss improvements. In all there were 35 screens linked to a custom dashboard module meaning each manager and director could create their own unique view of what they wanted or needed to see.
The system was then built module by module, with weekly reviews tied to the spec, testing and pilot rollouts of each module and training ahead of phased go-live.
What we built inside Rialto
- Loan and investor management that tracks cases from enquiry to redemption, links funders and automates all correspondence.
- Underwriting and risk with financial data capture, scoring, document checklists and automated credit checks.
- Workflow automation for valuations, solicitor instructions and investor agreements, with tasks, reminders and SLAs.
- Reporting and compliance that produces funder statements, investment summaries, arrears and audit trails on demand.
- Scalability and access for unlimited users with granular permissions and activity logs.
An example of a wireframe layout of a typical screen from the specificationOutcome
Rialto replaced multiple tools with one source of truth. Case progress, funds and communications are consistent and visible, errors dropped, and routine tasks complete in minutes rather than hours. Management gets clear MI on pipeline, arrears and performance; investors receive accurate, timely statements.
The platform was delivered on time and on budget, and set the standard for a penny-perfect lending operation.
“RD Research built a comprehensive system that met all our needs and added valuable capability we had not anticipated. Their expertise and clear communication made the project straightforward from start to finish. I would recommend them without hesitation.”
David Kreeger, Managing Director
West One Loans