Ophelos, Plend partner for ethical debt resolution

Wednesday 18 May 2022 13:25 CET | News

Technology company Ophelos has partnered with Open Banking ethical consumer lender Plend.

Both pending B-corporations, Plend and Ophelos are closely aligned in their commitment to building fairer, more accessible financial solutions with social impact at their core.

The partnership will see Ophelos transform how Plend manages the support of customers who may find themselves in arrears. Having experienced challenging debt management processes firsthand, Plend’s CEO sought a tech-driven collections partner whose ethics around debt resolution aligned with that of Plend’s purpose-driven approach to credit. Ophelos’ proprietary machine learning platform will help Plend to engage with, and support its customers facing debt – giving them options to resolve their debts through manageable instalments via personalised repayment plans.

Launching in 2022 with registrations for Early Access now open, Plend is an ethical consumer lender providing affordable loans for individuals in the UK with thin or inaccurate credit files struggling to gain access to credit. Using Open Banking technology, Plend utilises a fairer way to assess creditworthiness, dubbed ‘the PLEND Score’, which makes lending decisions on an individuals’ transaction history and spending behaviour, enabling Plend to tailor a loan to their unique needs.

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Keywords: partnership, Open Banking, lending
Categories: Banking & Fintech
Companies: Ophelos, Plend
Countries: United Kingdom
This article is part of category

Banking & Fintech




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