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Everyday Loans was established in 2006 and is the name behind a new, straightforward way for individuals to borrow money in the UK. Everyday pride themselves on being an independent lender and not just another call centre. Loans are finalised for new customers with an appointment, arranged locally, face-to-face.
Everyday Loans market direct to the public and handle referral business from brokers.
Funded by venture capital, their independence means they can genuinely offer a case-by-case approach. This, in certain cases, means they can be more flexible deciding when, and how much, they lend.
In 2006/7, Ridgian completed the successful integration of a Loan processing portal capable of recieving Loan Applications, validating key criteria and transforming the data into the correct format ready for the Loan Processing back-end systems.
Business Challenges
Everyday Loans had the challenge of needing to receive turn down loan applications from many different prime lenders/brokers. In most cases each supplier would have different IT systems and data platforms and Everyday Loans did not want to have to task the supplier with a schedule of work required to communicate. In addition to this, the face to face nature of the business meant that Everyday Loans needed to enable the Lender/Broker to book appointments in the appropriate Branch for the loans applications passed to them. The following issues were faced:
Many data sources to be processed from many different external suppliers Data formats and structure differed Data validation required and errors reported back to supplier New Suppliers needed to be live in days rather than weeks or months Ongoing solution needed to be managed with little technical knowledge
The Solution Ridgian installed a Cast Iron Integration Appliance into the Everyday Loan’s Data Centre to enable all of their external lenders/brokers to pass loans applications in whichever format was convenient for the supplier i.e. XML Feed, Excel spreadsheet, CSV file, HTTPS. Using the Cast Iron technology enabled us to build the interface for each new supplier in less than 2 days giving Everyday an advantage in their market and enabling revenue generation to start quicker than ever. “In previous finance companies of similar nature, getting an interface developed to enable us to receive loan applications took up to 3 months to develop, workin with Ridgian and utilising the Cast Iron Integration Appliance has enabled us to sign up more Brokers and get into a revenue generating position far quicker” commented Phil Cooper, IT Manager, Everyday Loans. | | 
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