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Yapily, Salad Money to provide NHS staff with cheaper loans

Wednesday 15 July 2020 10:11 CET | News

Open banking provider Yapily and ethical fintech Salad Money have announced a partnership to help NHS staff find cheaper loan options. 

The collaboration has already allowed Salad Money, the low-cost loan provider for NHS staff, to provide over 1,000 NHS staff with affordable credit options since the partnership first went live at the end of April 2020. Yapily’s API allows Salad Money to provide a complete overview of a customer’s finances in real-time by extracting financial information directly from a person’s bank account. 

The fintech can then create bespoke loans for customers, tailored to their financial needs by matching the classification of income and expenditure to Salad Money’s lending criteria. Research from Salad Money has found that 80% of NHS staff loan applicants are looking for ways to get out of their overdraft, with many struggling to stay afloat during the pandemic.

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Keywords: Yapily, Salad Money, NHS, loans, credit options, API, financial information, bank account, lending, loan application, UK, United Kingdom, pandemic
Categories: Banking & Fintech | Payments General
Countries: United Kingdom
This article is part of category

Banking & Fintech