Enra

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Erna is a market leader in the specialist loans market, with a particular focus on property. With three powerful trading divisions in Enterprise Finance, West One and AURA they were looking for rapid integrated growth and needed to put in place robust and custom technology to enable this.

Over the last three years, we have now built, restored and continue to manage six pieces of software enabling them to be more efficient, scale and offer a far superior experience to their employees, customers and partners.

Solution

The first project we helped them with was an investor portal which enabled peer-to-peer lending for high net worth individuals. Their current process wasn’t streamlined and required Enra to take a lot of phonecalls and perform many manual tasks. We were able to quickly to build an app interface for desktop and mobile to help transform this experience into something much more enjoyable, unique and efficient for both the investors and Enra’s employees. Investors were now able to login to see and manage their portfolio and look at potential investments, without contacting Enra directly. At this time we also inherited a legacy backend system that we stabalised and continue to maintain and update today.

For the Enterprise Finance brokers, we built a bespoke system for logging new loan applicants. The system is also plugged into a number of third parties sites allowing brokers to compare deals and source information to complete an application. An additional system allows for the flow of money transfers whether the loan money is coming directly from Enra or from an external lender.

On the underwriting side of the business we built a major system which manages any application coming in directly to Enra or from an external brokerage service. This collects information on a loan and empowers underwriters to check details, authenticate and credit check, as well as produce the necessary documentation for partners.

More recently we launched a platform for third party brokers and also helped improve the flow of data and communication between Enterprise Finance and West One. Now the majority of loans being underwritten come from external third parties, dramatically increasing the number of loans enquiries the business now deals with.

Results

We have supported Enra’s growth over the past fiveyears and provided them the knowledge and flexibility that meant they didn’t have to take the risks of trying to build their own in-house team. Given the scale and complexity of this business, the aim is to try and move as much of the maintenance of systems back in-house, which has seen the Enra IT team scale up to support this transition. We’re handing over knowledge and IP as we go and looking to recruit the right people, so this process can take up to 12 months. We will still continue to develop products and new systems for them and always be there as insurance for them to fall back on.

In the long-term, Enra now have a unique set of systems which they own the IP of and this will be invaluable to them in the future if they decide to sell, buy or merge with other businesses.