The verdict in three sentences
A bank in London or Dubai that processes 1,800 SME loan applications a year with 6 to 8 week turnaround loses the borrowers who have options. A loan origination platform orchestrating 9 approval steps, scoring and online committees falls in the complex band of Kolonell's grid, 7,000,000 to 15,000,000+ FCFA, once it integrates with the core banking system, over 4 to 6 months. The realistic goal is a median turnaround of 2 to 3 weeks without loosening credit policy.
Where the 6 to 8 weeks go
In most credit departments the delay is not the analysis itself but the dead time between steps: a missing document spotted late, a file waiting on a desk, a committee postponed for lack of quorum. A platform makes that dead time visible and cuts it.
| Step | Current average (estimate) | Target with platform |
|---|---|---|
| 1. Intake and document completeness | 7 to 10 days | 2 to 3 days, online checklist |
| 2. File set-up | 2 to 3 days | Same day |
| 3. Financial analysis by relationship manager | 5 to 7 days | 3 to 4 days |
| 4. Internal scoring and rating | 2 days | Automatic, minutes |
| 5. Risk opinion | 5 to 8 days | 2 to 3 days |
| 6. Legal review of security | 3 to 5 days | 1 to 2 days |
| 7. Credit committee | 5 to 10 days waiting | Weekly or ad hoc online committee |
| 8. Offer letter and conditions | 2 to 3 days | 1 day |
| 9. Booking in core banking | 3 to 5 days | 1 to 2 days via interface |
Features that make the difference
- Single digital file: incorporation documents, accounts, bank statements, property titles, with completeness checks by product.
- Configurable workflow: the 9 steps, delegated authority by amount, automatic escalation after X days.
- Internal scoring: your ratios, weights and exclusions, with versioned history for model governance.
- Online committee: generated agenda, recorded votes, minutes produced automatically.
- SME portal (optional): borrowers upload documents and track progress.
- Core banking interface: pull customer history, create the facility without re-keying.
- Reporting: turnaround by step, approval rate, exposure by sector, regulatory returns.
Budget and timeline in 2026
For a UK or UAE bank, the usual benchmark is an enterprise origination suite. As a 2026 order of magnitude, these cost $80,000 to $300,000 in licence and integration in year one, plus 18 to 22% annual maintenance, and a bespoke build by a London fintech consultancy often runs £150,000 to £400,000. Kolonell's custom grid, quoted in FCFA and EUR:
| Level | Typical scope | Kolonell budget | Timeline |
|---|---|---|---|
| Simple | Internal workflow, digital documents, 1 loan product | 2,500,000 to 4,000,000 FCFA (3,810 to 6,100 EUR) | 2 to 3 months |
| Medium | 9 steps, delegations, scoring, online committees, reporting | 4,000,000 to 7,000,000 FCFA (6,100 to 10,670 EUR) | 3 to 4 months |
| Complex | Core banking integration, SME portal, e-signature | 7,000,000 to 15,000,000+ FCFA (10,670 to 22,870+ EUR) | 4 to 6 months |
| Maintenance | Fixes, minor regulatory changes | 35,000 / 75,000 / 120,000 FCFA per month (53 / 114 / 183 EUR) | Ongoing |
The cost of core banking integration depends on the vendor and available APIs; it is confirmed after a 2 to 3 day technical workshop.
Security, compliance and change management
A platform handling accounts and collateral needs strong authentication, role and branch based permissions, a tamper-evident audit trail and hosting aligned with the bank's policy. In the UK, the FCA's operational resilience and outsourcing rules apply, along with UK GDPR; in Dubai, the DFSA or Central Bank of the UAE framework depending on licence. Scoring models fall under model risk governance.
The main risk is adoption, not technology. Relationship managers must save time from month one, or paper comes back. Hence a pilot on one team and one product before rollout.
Mini case study
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Rachel, head of SME credit at a mid-sized bank in London, handles 1,800 SME applications a year with a 7-week average turnaround. Her data shows 15% of approved SMEs borrow elsewhere before drawdown, 270 files. With an average loan of £40,000 and a 5% net interest margin, each lost file is worth £2,000 of annual revenue.
Calculation: 270 x £2,000 = £540,000 of annual revenue lost. If the platform brings turnaround to 3 weeks and halves the leakage, the bank recovers about £270,000 a year. A complex-band project at 14,000,000 FCFA, about 21,340 EUR, pays back within weeks of go-live.
FAQ
Does the platform replace our core banking system?
No, it sits upstream: it processes the application and then creates the facility in core banking through an interface. Accounting and portfolio management stay in your core.
Can we change the scoring without a developer?
Yes, weights, thresholds and exclusions are configurable by a risk administrator, with version history. A new scorecard can be back-tested on 3 to 6 months of past files before activation.
How long does the full project take?
Allow 4 to 6 months, including a 6 to 8 week pilot with one team. Core banking integration is usually the critical path.
Are online committees valid?
Yes, if your credit policy allows them: named votes, time stamps and electronically signed minutes. Policy updates run in parallel during the first 2 months.
Where is the data hosted?
On your infrastructure or with a provider approved by your risk function, in line with outsourcing rules. That choice is priced in the quote.
Let's scope your project. Share your current 9 steps, delegated authorities and core banking system, and we will propose a scope with a one-team pilot in 6 to 8 weeks. Detailed quote within 48 h. WhatsApp +221 77 596 93 33.
Mohamed Bah
Fondateur, Kolonell
Passionate about digital and entrepreneurship in Africa, Mohamed has been helping Sénégalese businesses with their digital transformation since 2020. Founder of Kolonell, he believes every SME deserves a professional and accessible online présence.
