Discover Fignum: Innovative Solutions for Modern Lending
Founded in 2019 as an integral part of the Bluestone Group, Fignum specializes in developing advanced software for loan origination and servicing across various sectors, including mortgages and motor finance. Our cutting-edge technology, known for its configurability, sets us apart in the competitive financial services market. Designed to meet the complex demands of modern lending, our software automates critical processes like lending decisions, document processing, and payments. Initially serving as Bluestone Group’s in-house IT team, our solutions are grounded in real-world financial experience, featuring over 30 integration options to ensure adaptability and efficiency.
Solving Critical Industry Challenges
Fignum was established to address the inefficiencies of outdated legacy systems, which often hinder user experience with their complexity. The mortgage market’s volatility, characterised by unstable swap rates and sudden product withdrawals, has underscored the need for more responsive technology. Many lenders struggle with legacy systems that impede their ability to adapt. Our smart platform offers easy integration with both modern and existing systems, streamlining the onboarding process, and reducing project timelines and costs. This flexibility enables lenders to swiftly adjust to market changes, providing a competitive edge.
Evolution and Growth
Since our inception, Fignum has grown and transformed, solidifying its position within the Bluestone Group alongside Bluestone Mortgages, Bluestone Motor Finance (Ireland), and Bluestone Consumer Finance. In 2023, significant acquisitions by Shawbrook Bank and Close Brothers of Bluestone Mortgages and Bluestone Motor Finance respectively, have refocused Fignum on commercialising the innovative technology that underpins these successes. Leveraging our technological expertise, we have consistently enhanced operational efficiency and pioneered financial solutions like the Deposit Unlock scheme by Bluestone Mortgages. Our mission is to make our technology more accessible while continuing to drive innovation across the financial services industry.
Challenges and Triumphs
A major challenge has been prioritising development initiatives amidst the volatile mortgage and motor finance sectors, further complicated by regulatory scrutiny such as the FCA investigation into discretionary commission. Balancing adaptability with strategic planning in a fluctuating economic and political landscape has been essential. Despite these challenges, our proudest achievement remains the rapid development of our software within 18 months. This feat, achieved through collective effort, resulted in a highly functional, configurable, and user-friendly solution. Our focus on seamless integration with client’s business processes ensures minimal training requirements and maximised efficiency, exemplifying our commitment to agile technology.
Company Culture
Our success is deeply rooted in our company culture. Fignum thrives in a supportive and friendly environment that prioritises technological innovation. With a flat hierarchical structure, we encourage transparency and active contribution from all team members to drive change and creativity. This collaborative approach enables us to deliver cutting-edge solutions tailored to our customers’ needs. Based in Cambridge, a UK tech hub, we benefit from access to exceptional talent and remain at the forefront of tech developments. Regular innovation workshops foster a culture of collective brainstorming, with a particular focus on the transformative potential of AI in financial services.
Looking Ahead
The future is bright for Fignum. Our solutions are poised to make a significant impact on the financial services industry. This year, we aim to extend our services to more mortgage lenders and motor finance providers, enhancing their offerings and customer service. Our recent corporate membership with Asset Finance Connect marks a significant milestone, enabling close collaboration with industry leaders to advance motor finance technology. We are also excited to launch our updated website and rebranded loan origination product. Upcoming industry events, including the Building Societies Annual Conference and Credit Week in Wales, will provide opportunities to share our insights and connect with peers.
Stay tuned for more exciting developments as we continue to innovate and expand our influence across the financial services landscape.
