Our work with Lux Loans

Client

Lux Loans is a cash loan company specialising in smaller bridging loans.

Challenge

We were tasked with essentially building the company with the founder. What an exciting journey. We discussed how a company like this could be run, how the onboarding process would work, researched the legal requirements and FMA compliance. Built a suite of software to:

Onboard a new client and:

• Verify their mobile number via a code
• Verify their identity using Cloudcheck
• Credit check using a 3rd party software that analyses their bank account statements
• Generate loan documentations to be sent out automatically once approved to be signed using Hellosign

Manage the loans

• Application fee, interest
• Processed the bank statements to find payments and remove payments from their loan
• Highlight overdue loans for review