London-based FinTech Amplifi Capital has agreed a private securitisation warehouse of up to £100 million with NatWest as to expand its personal lending platform Reevo Money.
The company said that it has partnered with Lenvi to provide backup servicing for the facility to ensure a “robust and reliable infrastructure” to support its lending.
Amplifi Capital claims the move will allow it to broaden the amount of products it offers and support its aims to make credit accessible to underserved communities in the UK.
Last June, Amplifi Capital received an additional £50 million investment in the form of debt funding from M&G.
Commenting on the news Tobias Gruber, chief executive of Amplifi Capital (U.K.) Limited, said: "Amplifi Capital's technology has revolutionised the credit union sector in the UK. As a credit introducer, it has helped credit unions to issue savings and loan products to over 100,000 customers in the UK with a total loan book of over £420,000,000.”
He added: “The facility with NatWest gives us access to financing Reevo Money at an important time to enable us to continue offering customers access to credit when traditional lenders have turned them away."
Latest News
-
Bank of England governor blocks Reeves Revolut meeting over independence concerns
-
PayPal launches crypto payments service for US merchants
-
Lloyds Bank joins asset finance network that flags suspicious borrowing
-
HSBC requires senior managers in office four days a week as banks tighten remote work policies
-
Mastercard launches A2A Protect to boost safety in UK account-to-account payments
-
Nottingham Building Society appoints Russ Thornton as new CTO
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories