An Online Auction Portal for Financial Services
A consumer facing portal allowing mortgage lenders to bid for business in a live private auction. Consumers register, enter their specific requirements, and then the system matches the closest compatible mortgage lender who competes against other suppliers to win the business.
The basic requirements was to build a new powerful on-line brand in the financial services arena.
- To provide consumers with buying power in areas where there are either:
- Fees / costs which maybe viewed as not necessary by the consumer.
- Perception of high pressure sales techniques
- To provide the consumer with a facility to view lenders actively bidding for their mortgage business within an auction environment.
- To provide total transparency and real value for money for the customer.
- To provide the lender with cleaner, longer term business (reduced churn)
- To enhance Lenders profit margins.
The delivered system had to be web based and provide an ‘e-Bay’ type auction experience for users. The system must be capable of interfacing with the lenders back-office systems via a multitude of interfacing options such as CSV, XML, Transact SQL via VPN and other EDI.
Extensive design and workflow was carried out to ensure the user experience and teh interactions wiyj all of teh lenders was as automated and efficient as possible. The system would be FSA regulatedand data security was paramount.
Basic Data Flow With 3rd Part Interactions
Secure EDI had to be built between a range of lenders
A whole set of processes and systems was put in place for data protection, resiliance and disaster recovery.
- Bidme.com Price Comparison and Auction Portal
- examples of our work, portfolio, bidme, bedme.com
"Having worked with the staff at Impact for over 10 years I can confidently recommend their services. I originally chose them as the preferred partner for my project as they demonstrated a clear understanding of the issues involved, and had a refreshing can-do attitude. The issues we faced were technically challenging but Impact always provided a well thought out solution. With our products being regulated by the Financial Services Authority (FSA), security and adhering to standards was vitally important, along with offering a slick user experience. From design through user interface, third party integration and back office integration Impact’s knowledge and experience shone through."
Marketing Director, Bidme.com