Credit reference agency firm, Hope Macy, has completed a strategic acquisition for fintech loan firm, Slick Solutions.
The move aims to improve access to credit for low-income and vulnerable consumers through the Slick Solutions loan origination platform.
Hope Macy’s consumer technology has now been integrated into Slick Solutions’ full-service loan platform, which is trusted by over 20 major institutions, including responsible lenders, credit unions, and retail banks.
The integration of Hope Macy’s APIs will enable these institutions to make quicker and more accurate data-driven decisions while prioritising consumer welfare at the start of any lending process. Lenders can also significantly increase their compliance with Consumer Duty obligations.
Hope Macy CEO, Sam Manning, described the acquisition as “transformative”.
“We wanted to protect consumers from financial harm, and the starting point is the credit process. By placing ourselves right at the start, we can assist lenders in making better decisions and advancing FCA Consumer Duty,” Manning said.
“Building on our experience in the vulnerable consumer sector, we offer lenders one of the largest credit platforms with consumer duty at its core, ensuring that consumers achieve good financial outcomes.”
Slick Solutions CEO, Luke Scowen, added: “By merging our powerful technologies and regulatory permissions, we’re setting a new benchmark for efficiency, speed, and cost savings across the board.
“We put the duty to protect consumers at the start of the credit journey and offer our lenders high-quality loan management services. This way, both consumers and our business clients benefit.”
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