We’re so happy to announce our latest partnership with ethical consumer lender Plend. With similar missions and values, working with Plend was an obvious choice for us. We’re both committed to building fairer financial solutions, our business models are designed for social impact and we both put the customer at the heart of everything we do.
Plend are bringing affordable loans to the 13 million people in the UK who are held back by their unreliable or inaccurate credit files. When going off traditional financial credit scoring systems, millions of us are virtually invisible to the financial system. Being locked out of credit increases the risk of financial hardship and exclusion, with expensive payday loans seeming like the only option, and has a knock-on impact on everything from health and housing to education and career.
Instead of relying on credit scores alone, Plend utilise their own proprietary Open Banking engine to assess creditworthiness, building up a more personalised picture of an individual’s finances through their bank transaction history and spending behaviour, and providing customers with an economical alternative to eye-watering credit solutions.
We’ll be helping Plend to support any customers who happen to find themselves in arrears, guiding them through our AI-driven digital journey and working to boost their financial health with affordable, personalised plans and the highest degree of support. Our machine learning technology will help to flag up potentially vulnerable customers as well as provide Plend with key insights on their customer’s financial wellbeing.
It’s really great to be working with a company that not only aligns with our purpose as a business but is actively working to improve the lending ecosystem. We can’t wait to see what we achieve together!