Godel Technologies will support Evolution Money in improving customer experience by streamlining loan applications and management through an online portal.
Evolution Money is a secured lender, providing finance to homeowners across the UK as well as a portfolio of secured loan products designed for consumers who are unable to access mainstream finance. Launched in 2011, off the back of the last global financial crash and the credit crunch which followed, there was a vision to help consumers who needed access to funds as a result of a risk-averse “computer says no” culture.
Looking to optimise the customer journey for online mortgage and other loan applications, Evolution Money needed to grow their development team to build the necessary products to deliver an online, self-service, customer portal. Steve Daly, IT Director at Evolution Money explains.
“With a growing need for an online presence for customers to manage their loans and payments online, it presented us with an exciting opportunity to develop an online, self-service, customer portal to support our increased traffic of new applications.
Due to the sizable nature of the project and deadlines, we were required to grow the headcount of our technical team and hire a number of engineers to support us in our journey. After looking at factors such as cost and time it takes to hire internally, we considered working with a nearshore partner who could provide the right people quickly with relevant experience and knowledge of what the tech stack needed to be and how it would be delivered.
When we spoke to Godel, we already knew the high quality they could offer from previous connections, so after initial conversations, we were filled with the confidence that they had the right experience for the task. From the start, Godel presented themselves as a good fit, they understood our requirements and their experience suited what we were trying to deliver. The convenience of working with a Manchester-based partner who is local also appealed to us and supports our ESG commitments.”
Streamlining the process through technology
Steve continues: “There are existing challenges with our high-cost process and the need for a more efficient online platform. With the Godel team’s help, Evolution Money will be launching an online portal where the customer can transact with the company online and out of office hours, intending to increase online traffic and reduce the demand on our telephone-based customer service.”
“We also want to leverage the functionality for future products to create a digital eco-system for all of our products. Our goal is to streamline the mortgage process through technology and optimise the mortgage application process for online customers, which will also to widen our customer appetite. This is an exciting opportunity for us to build a product that we know from feedback our customers want and need. We are working to tight deadlines, but we are confident that by partnering with Godel, we will deliver to the best standard that our customers expect and produce a market-competitive online portal that will be maximised from a growth perspective and ultimately support our customers in their lending journey.” Said Steve.
Reflecting on the new partnership, Gareth Ainsworth, CEO at Godel said: “I’m really excited to see how this partnership will evolve. The work we will be involved with in developing a new online customer portal is crucial to Evolution Money evolving in an industry that is rapidly adapting to new technologies, and I look forward to seeing what we achieve together.”