Shawbrook Bank, the specialist savings and lending bank, has been a Redline client since the bank’s inception in 2011. Today, Shawbrook’s consumer division continues to rely on Cognition, Redline’s software platform, to offer loan products directly to consumers and through their broker and partner network.
From the outset, Shawbrook needed a highly configurable and flexible solution capable of delivering requirements critical to their business:
- To integrate with existing Shawbrook Bank systems
- Bespoke credit scoring
- Automated underwriting and instant decisioning
- Fraud data screening
- Automated document production
- Integrated collections functionality
- Paperless using advanced e-signature technology
- Secure and compliant service
In addition to their technical requirements, Shawbrook were seeking a team with whom to build a long-term partnership based on trust and a shared commitment to deliver against their current and future needs.
Redline integrated the Cognition platform with Shawbrook’s existing systems to perform both front and back office functions. Redline also provided rigorous testing and high security standards, managing their SaaS from their own hardware in one of the most secure data centres in the UK.
Redline brought a number of benefits to Shawbrook which have contributed to the rapid growth of the bank’s consumer lending division. The high performance and scalable API has enabled Shawbrook to quickly and easily onboard new partners and rapidly expand its range of distribution channels. In addition, Redline have supported product innovation such as ‘real rate pricing’ for personal loans.
Paul Went, Products and Markets Director commented “Redline have worked with Shawbrook from the start and they continue to be responsive to our needs in this ever changing marketplace. Their Cognition platform is highly configurable and has enabled us to expand our distribution channels and grow rapidly.”
Shawbrook is a specialist UK savings and lending bank founded in 2011 to serve the needs of SMEs and individuals in the UK with a range of lending and saving products. At 31 December 2017, Shawbrook’s total lending reached £4.9 billion and they have now raised more than £4.4 billion in customer deposits.
Shawbrook Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.