Pingtree, part of the Quintessential Finance Group, the UK's leading financial technology (fin-tech) business, is launching a new version of its loans platform to support online personal loan lenders.
The new service will allow Pingtree's affiliates and partners to access lenders and provide borrowers with a much wider choice of loans and lending products, with amounts ranging from £1,000 to £50,000 on terms from six to 60 months. The offer centres on a 'whole of market' proposition, catering to both the prime and non-prime markets.
The new platform will also give the lenders on Pingtree access to a huge network of customer origination sources, enabling them to secure increased distribution in a more integrated and intelligent way.
Powered by Quintessential's market-leading proprietary Pingtree technology, the personal loans platform will give consumers access to an initial panel of 30 lenders.
The panel includes some of the UK's largest and most trusted high street names, as well as new and non-conventional lenders such as guarantor lender Amigo and peer-to-peer lender Rate Setter.
The personal loans Pingtree has been developed in response to the growing number of lenders offering online unsecured loans. This, combined with the way the market is responding to planned legislative changes, has led Quintessential to evolve its technology, making it easier and simpler for customers to find lenders online and take advantage of the lower RAPRs attached to mid-term loans.
It will also offer market-leading commission rates to affiliate partners using the platform to power their own sites and businesses.
Quintessential's Pingtree platform currently sees over 600,000 loan applications a month, and the group is hoping that this flexibility and agility will prove equally successful in the mid-term market.
Quintessential co-founder and chief executive Greg Cox said: "The way in which people buy financial products, including how they borrow and save, has changed. New technology is driving choice, and with it increased competition. Pingtree Personal Loans will give consumers more borrowing options, and it's an obvious expansion of our technology and applications.
"There is an increasing need to ensure consumers have access to the right products, and this new platform will help people get quick and easy access to a whole range of instalment loans, whilst our Pingtree technology ensures a consistent supply of high-quality sales leads to our panel of lenders."
Quintessential Finance is also launching ukloans.co.uk, supported by the personal loans pingtree and offering consumers a smarter loans search to provide them with the cheapest loan possible.
For further information please contact Jenny Wilkinson or Tim Downs at Aberfield Communications on 0113 357 2070 or email: firstname.lastname@example.org / email@example.com
Notes to editor:
Quintessential Finance Group is a leading-edge financial services technology provider and one of the UK's largest independent financial solutions groups. Its technology helps power market-leading consumer finance brands and businesses, as well as its own products and services. Founded in 2006, the company is headquartered south of Manchester and now operates in four countries worldwide, with over 100 employees servicing both directly-marketed consumers and third party introductions. In 2013 Quintessential Finance Group was named the 3rd fastest-growing technology business in the UK, and the top company in the North West, in the Sunday Times Tech Track 100.