RateSetter is a peer-to-peer lending marketplace that launched in the UK in 2010. RateSetter offer investors direct access to the risk and returns from lending to creditworthy individuals and businesses. To date, every individual RateSetter investor has received every penny of capital and interest they expected, without losing a penny. In seven years, RateSetter’s investors have lent over £2 billion to their borrowers and from that they have earned £70 million in interest.
Technology is at the heart of everything RateSetter does. From the marketplace that matches the lenders with the borrowers, to managing the customer life-cycle and the whole infrastructure – every thing is driven by technology. RateSetter’s focus for the past 7 years has been around consumer finance. Approximately 18 months ago RateSetter made the decision to invest heavily into business finance to lend to small-medium sized enterprises to boost their productivity and ultimately help UK PLC productivity. RateSetter knew that as well as investing in a sales team to aid the project, they’d need a technology platform that will support the thousands of companies their sales people were approaching.
RateSetter reviewed many business solutions that unify CRM and ERP capabilities before making the decision to implement Microsoft Dynamics 365; an intelligent cloud application that offered them all of the functionality they needed and more, allowing them to start with what they need and add applications as their business grows for the right price point.
WORKING WITH QUANTIQ
“QUANTIQ were very attentive and discerning of our needs from the outset. QUANTIQ’s consultants listened to our aims of the solution and took us through the key features in Dynamics 365 that were going to help us achieve them. QUANTIQ’s openness and transparency infused confidence in our team and we knew very early on that they were a good fit. We knew that we could expect much more than a supplier vendor relationship with QUANTIQ – instead one where both parties are striving for the same aim. We work in an agile way with new features being released through the RateSetter platform every 2 weeks and that’s exactly how QUANTIQ work as well so there was already an alignment between the two organisations in the way of working.
QUANTIQ’s support has been invaluable and the entire process from diagnostic, analysis, design, development, deployment and operation has been encouraging and smooth-sailing. QUANTIQ’s consultants knew exactly how to work with the business team which allowed me to take a step back. It was a rapid implementation, delivering what we needed and getting it out to market in under 8 weeks which enabled us to accelerate the growth of our business finance – which is a key part of RateSetter now.”