|By Business Wire||
|November 13, 2012 04:01 AM EST||
LendProtect UK Ltd. and InnoTech Ltd. trading as LendFusion, today launched a joint initiative to provide short-term lenders with a sophisticated online lending platform with the power of the most robust underbanked consumer information in the short-term lending market. LendProtect UK is the leading provider of consumer risk solutions to the alternative financial market. LendFusion is an innovative, hosted online lending platform for short-term lenders.
“We wanted to provide short-term lenders with the power to accurately and proficiently rate consumer risk in order to increase revenue and drive efficiencies,” said Norris Koppel, CEO of LendFusion. “As the first specialised credit reference agency in the UK, LendProtect UK proved to be the most robust solution with credit risk data on the underbanked market reported daily and in real-time.”
LendProtect UK has offered specialised credit risk data in the UK longer than any other company in the industry. The company’s loan performance data, payment data, consumer stability data, and employment data is analysed in order to provide instant lending decisions using a proprietary comprehensive scoring platform. This analytics approach uses data not typically reported to the traditional credit bureaus, and is invaluable in helping consumers have access to more borrowing options, while also providing a more accurate risk assessment of the consumer for lenders.
The demand for alternative financial services has increased as consumers look for instantaneous and efficient processes that are fast, easy and online. “Because of this, LendProtect UK has continuously focused on building meaningful partnerships to deliver higher value for its customers,” said Greg Rable, CEO of FactorTrust, Inc., LendProtect UK’s parent company, “LendFusion is an industry leader, providing a cost-effective online lending platform which enables short-term lenders to manage and scale successfully. This partnership with LendFusion is a natural fit as it offers short-term lenders the most intuitive and flexible technology solution to manage their loans with confidence.”
About LendProtect UK Ltd.
LendProtect UK Ltd. has compiled the most comprehensive data on the underbanked market in the industry on portfolios that report data daily, in real time. This daily loan performance data on millions of underbanked consumers is analysed in order to provide instant lending decisions using the company’s comprehensive scoring platform. Lenders are continually faced with the challenge of how to effectively and intelligently manage risk to capitalise on this segment. This analysis uses data not typically reported to the credit bureaus, and is invaluable in helping consumers have access to better borrowing options, while also providing a more accurate assessment of the consumer for lenders. For more information please contact LendProtect UK at +44 (0) 113 251 5160 or [email protected].
LendFusion is a hosted software platform that helps short-term lenders to manage the smooth running and expansion of their business. This software enables lenders a scalable platform developed with a combination of innovative technology, strong experience and an imaginative approach to lending online. LendFusion is the easiest-to-use and most efficient platform currently available in the UK. For more information please contact InnoTech Ltd. at [email protected].