5 Digital Lending FinTechs making credit more accessible in the UK

By Gloria Methri

As online banking platforms grow popular in the United Kingdom, both traditional financial institutions and neobanks are expanding their offerings with digital lending.

Financial Technology has allowed lenders to accelerate their payment processing time and offer personalized experiences based on individual mortgage seeker’s needs.

Lending Service Providers (LSPs) generally work closely with non-banking financial companies (NBFCs) to disburse credit to customers using the LSPs’ platform. The companies enable customers to use either a mobile app or web platform to apply for a loan or make repayments.

Here are 5 FinTech lenders boosting their market presence in the UK:

• Assetz Capital

Assetz Capital operates in short to medium-term lending and offers a range of bespoke property-backed specialist finance solutions. Its loan products are mainly commercial mortgages and buy-to-let loans for landlords. It is aso invested in bridging finance and residential refurbishment loans. The company has already exceeded £1.5 billion of lending to UK businesses. It covers any business sector and the whole of the UK, taking tangible property security on every loan.

• Divido

Divido is a white-label retail platform created to connect lenders, retailers, and channel partners with proven technology and expertise. It is an innovative way of controlling and configuring payments. Divido delivers an omnichannel, multi-geo platform that is fully configurable to meet fast-changing customer needs. The lending company has worked with BNP Paribas, Nordea, Nectar, and lastminute.com.

• Landbay

LANDBAY is a 100% online broker platform revolutionising the industry through its innovative ‘Mortgage-as-a-Service’ platform. Its core service is P2P lending in buy-to-let mortgages and the provides investors with direct access to loans. LANDBAY’s platform also allows speedy shipping of new mortgage products to the market and works with numerous networks, packagers, and clubs. This extensive network includes Primis, Connect Mortgages, Tenet, RHL, CommercialTrust, Synergy Commercial Finance, and TMA.

• LendInvest

LendInvest is one of the UK’s leading platforms for mortgages designed especially for intermediaries, landlords, and developers. Since starting out in 2008 the company has lent more than £6 billion of property finance, and provided an online experience for customers through its technology. Some of the big players that entrusted LendInvest with mortgage lending are CitiGroup, J.P. Morgan, and the National Australia Bank.

• Newable

Newable Limited provides finance, consulting, and property services for start-ups, and small and medium-sized businesses in the UK. Every year, the platform helps over 43,000 companies by offering business or commercial loans, mortgages, professional support, or providing new flexible working spaces for businesses.

Newable’s range of services include life insurance and finances like commercial mortgages or bridging loans. They also have a wide portfolio of services dedicated to SMEs and investors.

ALSO READ: Global Lending Vendors & Landscape Report Q2 2023