Loan Management System MVP
A multi-lender loan origination platform with automated underwriting, FCA-compliant borrower portal, and real-time portfolio monitoring — built and launched in 5 weeks.
5-Week Build Timeline
Specification & Architecture
- ✓User story mapping across 3 roles (borrower, lender, admin)
- ✓Database schema: loan applications, underwriting rules, repayment schedules
- ✓API contract between borrower portal and lender dashboard
- ✓Compliance requirements mapping (FCA Consumer Duty, Open Banking CDR)
Core Loan Engine
- ✓Loan application intake with document upload (KYC, bank statements, payslips)
- ✓Automated eligibility rules engine with configurable lender criteria
- ✓Credit score integration (Experian API) and affordability calculation
- ✓Loan offer generation with APR, term, and repayment schedule
Borrower Portal
- ✓Borrower onboarding with identity verification (Onfido)
- ✓Application status tracking with real-time notifications
- ✓Document upload and management interface
- ✓Loan agreement e-signature (DocuSign integration)
Lender Dashboard & Admin
- ✓Lender underwriting queue with risk flags and decision interface
- ✓Portfolio monitoring dashboard with arrears and performance metrics
- ✓Admin panel for lender configuration and compliance reporting
- ✓Automated FCA regulatory report generation
Testing & Launch
- ✓End-to-end testing across all three user flows
- ✓Security audit and penetration test (OWASP top 10)
- ✓Production deployment on AWS (UK region for FCA compliance)
- ✓Staff training, runbook, and post-launch monitoring setup
Tech Stack
Next.js 14 (App Router)
Server components for fast initial load; streaming for real-time application status
Next.js API Routes + Node.js
Unified codebase; TypeScript end-to-end reduces type errors in financial calculations
Supabase (Postgres)
Row-level security critical for multi-lender data isolation; pgvector for document similarity
Clerk (multi-role)
Borrower and lender auth with organisation-level access control in one afternoon
Onfido
FCA-compliant KYC and biometric verification with SDK for mobile and desktop
Experian API
Soft credit search for eligibility without affecting borrower credit score
GoCardless
Direct debit collection for loan repayments with automated retry and mandate management
AWS eu-west-2 (London)
FCA requirement for UK customer data to remain within the UK
Frequently Asked Questions
What were the hardest technical problems in this build?
Three things were genuinely complex: (1) Multi-lender data isolation — each lender needed to see only their applicant pool with zero risk of cross-lender data exposure. Row-level security in Supabase handled this cleanly, but required careful policy design for admin superuser access. (2) Repayment schedule calculation — generating accurate amortisation schedules with variable APR, compound interest, and early repayment fee calculations required a dedicated financial calculation library (finance.js) and extensive test coverage. (3) Regulatory compliance — mapping the FCA Consumer Duty requirements to specific product features (affordability assessment documentation, cooling-off period enforcement, complaint escalation paths) required domain expertise beyond technical implementation.
How did automated underwriting work in this MVP?
The underwriting engine evaluated 12 criteria automatically: credit score band, income-to-debt ratio, employment type, bank statement cash flow (via Open Banking), address stability, CCJ/bankruptcy history, application completeness, loan-to-income ratio, existing loan exposure, fraud signals (device fingerprint, email age, velocity), affordability stress test (at 3% rate increase), and lender-specific custom criteria. Applications scoring above a threshold auto-approved or auto-declined. The middle band (≈18% of applications) went to manual review queue. The 82% automation rate exceeded the target of 70%.
What compliance considerations shaped the product design?
FCA Consumer Duty (effective July 2023) was the primary compliance driver and shaped: (1) Pre-contractual information — clear APR, total repayable amount, and payment schedule before any commitment; (2) Vulnerability assessment — the onboarding flow included vulnerability indicators and routed flagged applicants to a human advisor; (3) Affordability evidence — every approval required documented affordability assessment with a 3% rate stress test; (4) Cooling-off period — 14-day withdrawal right with zero penalty, enforced in the system; (5) Complaint escalation — in-product complaint pathway with FCA-required 8-week resolution timeline tracking.
What results did the client achieve post-launch?
The MVP launched with 2 lenders and 50 invited borrowers in week 1. By month 3: £2.4M in originated loans, 847 unique borrowers, 12 active lender partnerships, 91% on-time repayment rate, and 4.6/5 borrower NPS. The MVP secured a £1.5M seed round 8 weeks after launch, with the live product as the primary investor demonstration. The automated underwriting rate meant the lender team of 3 could manage £2.4M loan volume without additional headcount — the unit economics case for investor pitch.
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