News

OpenWrks, Tully, Payplan and PayLink, to merge

Thursday 13 May 2021 14:09 CET | News

OpenWrks, Tully, Payplan, and PayLink, have announced they will merge in a transformative deal for the debt advice sector and wider financial services ecosystem.

The merger will deliver a tech-enabled debt advice, financial wellbeing, and credit solutions group that can deliver transformative technology to customers and clients. The intention of the merger is to bring together complementary companies in debt advice, credit risk and collections industries with specialisms in Open Banking, technology, and data science to improve and diversify access to debt advice for customers and drive innovation in transformative technology for customers and clients.

Exponent is supporting the merger by providing investment to the newly-formed group. Exponent’s involvement will help with innovation and growth within the group benefitting existing and future clients and customers alike. For their clients and partners, OpenWrks, the UK-based provider of Open Banking applications and PayLink, the innovative onboarding and collections software provider, will combine to deliver a suite of solutions in collections, credit management and debt advice.

The companies within the new group will remain operationally separate until further notice as the group identifies the most beneficial route forward for clients and customers. The transaction remains subject to regulatory approval and customary closing conditions.

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Keywords: merger, financial services, credit scoring, Open Banking, data sharing
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
This article is part of category

Banking & Fintech