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Asset Based Lending

Street UK appoints Equifax for affordable online lending launch

By CreditMan Monday, September 26, 2016

Equifax Limited, the consumer and business insight expert, has been appointed by non-profit lender Street UK to support the launch of its online lending platform, offering affordable and responsible short-term personal loans with clear and transparent fees.

Street UK will utilise a number of Equifax solutions, including credit risk, fraud and income verification tools, to conduct reliable and efficient affordability assessments. Working with Equifax will mitigate the need for manual checks and excessive documentation, allowing customers a smooth journey to fast and flexible finance.

Street UK is an ethical lender that provides loans to people underserved by traditional lenders. Its new online platform will offer personal loans of between £100 and £500 up to six months to cover unexpected financial expenditure, with instant decisions made on all applications.

Craig Tebbutt, Head of Alternative Lending at Equifax, said: “This appointment reflects our growing foothold within the alternative lending market as we continue to support new and existing lenders expanding their market reach. Street UK has a strong proposition and its decision to boost its online exposure will enable more people to easily access its services.”

Kashaf Ali, CEO at Street UK, said: “Equifax was our first choice as we sought a reliable and well-known brand with a comprehensive and robust range of verification solutions. The Equifax solutions will enable us to provide high quality online services, providing an excellent customer experience while maintaining robust affordability checks.”