P2P lender Flender Appoints Equifax to Support UK SME

P2P lender Flender Appoints Equifax to Support UK SME
01.02.2017 12:00 pm

P2P lender Flender Appoints Equifax to Support UK SME

Platform Technology , P2P Lending

Equifax Limited, the consumer and business insight expert, has been appointed by new P2P lending platform Flender to support the underwriting of loans for UK SMEs.

Equifax will supply real-time consumer and commercial data so that the underwriting process can be automated and optimised. The data insight, provided via the Equifax Business Insights solution, will give a holistic view of SME loan applicants, providing Flender with the tools to make robust and reliable lending decisions.

Flender is a P2P lending platform that enables both consumers and businesses to raise finance through their social circle connections including friends, family and customers. It is a primarily mobile platform and allows both lenders and borrowers to set their own interest rates. 

Andrew Hullock, Head of New Business - Alternative Lending at Equifax, said: “This partnership represents our continuing commitment to the alternative lending sector and our support for new and innovative entrants to the market. It’s a great example of a lender maximising the use of commercial data, an exciting area to watch as the potentially industry changing commercial credit data sharing (CCDS) scheme continues to develop. Competition in SME lending needs to improve, and providers like Flender with a new approach are a healthy addition to the market.”

Kris Koik, CEO at Flender, said: “We see Equifax as the primary bureau in the alternative lending sector and they were the clear choice for us. We’re the only P2P provider that allows you to lend money while integrating social circles into the process. We’re doing things differently and Equifax has a proven track record in working with lenders on flexible solutions at the early stages of their development. The combination of extensive consumer and commercial data that Equifax provides will be vital in enabling us to meet our targets, both in the UK and as we expand into Europe.”

Related News

B-Hive Community Celebrates Achievement of 2017

B-Hive, the collaborative innovation fintech platform that brings together banks, insurers and market... Read more »

New corporate supply chain finance platform to improve credit management

A new corporate supply chain finance platform launches today, which aims to improve credit management and provide additional transparency, security and flexibility for banks... Read more »

Overbond Expansion in U.S. Multiplies Bond Issuance Opportunities; New Digital Channels to Increase Fixed Income Market Liquidity

Overbond Ltd., the first end-to-end Capital Markets platform for primary bond origination and fixed income deal... Read more »

K2 Launches New Process Automation Platform Including New Cloud Service

K2 today announced the availability of its ... Read more »

Family Office Networks Expands Financial Technology Platform and Alternative Investment Database FONALTS.com

Family Office Networks announced today the launch of an online technology platform that offers family offices access to alternative investment products. The new ... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53, +44 (0) 173 261 71 47 Download Our Mobile App