Case Studies
Industry : Financial, Consumer/Commercial Finance
Product : Financier

When Harvey & Thompson, the UK's largest pawnbroking group, decided to venture into unsecured loans they realised they needed more than just a suitable IT solution, they needed impartial industry expertise.

In 2003 the company decided to expand into the increasingly popular area of unsecured loans, with the aim of launching a product christened Kwikloan. "As a continually expanding company it is important that Harvey & Thompson keep up with consumer demand and stay ahead of our competitors," said Mark Harrold, Business Development Manager. However, the company's existing pawnbroking software didn’t have the facility to deal with short-term loans.

"I made contact with Welcom Software and met Ian Wilson. His demonstration proved that the system could do everything we wanted. More importantly we realised that, because of their long-term association with the consumer credit sector, Welcom Software could provide invaluable consultancy services.

“All of the Welcom consultants have a remarkable 'hands on' understanding of the marketplace – the trading environment and business processes, as well as the practical system requirements."

The partnership proved to be very fruitful for Harvey & Thompson, as Mark explains: "We had an understanding of current legislation and an awareness of the processes, but Welcom Software provided the necessary focus, working closely with us when developing our business plan. Not only were they able to speak with authority, they were also able to put us in touch with other industry specialists, from legal aspects to specialist insurance.

“On Welcom Software's recommendation we joined the Consumer Credit Trade Association. We also gained a lot from the Finance Industry Summits organised by Welcom Software – just the right mix of professional advice plus links into appropriate business networking. The work we have done with Welcom Software has been invaluable.”