Equiniti has entered into an agreement to provide its Core Pancredit technology to Axcess Financial Europe (AFE), for its new online portal Square Today.
Square Today is a new lender in the UK loans market providing customers with short term loans.
Equiniti’s Core Pancredit is a complete loan application, servicing and collections solution which integrates with a range of third party systems to support the loan application process. Utilising Core Pancredit, Square Today’s online loan solution carries out underwriting and affordability checks on all applicants. These include two credit checks with Callcredit or Experian, and a fraud evaluation system.
Using Equiniti’s technology, Square Today is aiming to decrease the amount of time to completion, allowing successful applicants to receive money within a few hours.
Graham Donald, managing director of Equiniti Pancredit, said: “I am delighted to be announcing this new collaborative relationship. The technology we are providing to Square Today will make it easier and quicker for people to apply for a loan and demonstrates Equiniti’s ability to provide technology solutions that help our clients compete and improve their customers’ experience.”
Paul Court, managing director at AFE, added: “We are very pleased to be launching our new Square Today product set in partnership with Equiniti Pancredit. We are at the start of our plans to create a straightforward new value proposition for customers in the UK lending market and need a reliable partner to help us grow. I am confident that Equiniti Pancredit has the track record to help us achieve our goals.”