Unsecured lending is a rapidly evolving sector. Change in business models is driven by digitalisation, customer demand for sustainable solutions and the integration of open banking. Real-time financial data now brings lenders the opportunity to make quicker, more accurate credit assessments to match a growing demand for flexible loans. The sector is not without its challenges, including Consumer Duty requirements, increased competition and the constraints of legacy software.
The future of the industry will belong to those able to navigate these challenges expertly and efficiently, while embracing the skills and technology to take a truly proactive approach to managing their customers.
Overcoming key challenges in unsecured lending
Lenvi’s Fintech+ approach leverages top technology and expert talent to transform unsecured loan management
The 'technology debt'
Many lenders are saddled with legacy software and technology that holds them back because it becomes too challenging to unpick. The longer they wait, the more expensive it becomes to catch up.
Unable to respond to market change
Lenders using manual processes or out-dated technology are unable to embrace the proactive customer support increasingly demanded by the market. This lack of flexibility drains their competitive strength.
Meeting Consumer Duty
Lenders are now under unprecedented pressure to ensure that their customers’ interests are placed at the heart of every service and product they offer. For ambitious lenders, ensuring that full Consumer Duty compliance is maintained during periods of growth can be particularly challenging.
Changing consumer behaviour
Modern consumers are more discerning and knowledgeable about their options. Increasingly, they seek customised repayment options and personalised financial solutions to fit their specific circumstances. With new products constantly being launched, and the availability of user-friendly comparison tools, your customers are more likely to shop around.
How we can help?
Best-in-class technology
Combining market-leading technology with extensive experience in unsecured lending, we provide unrivalled end-to-end portfolio management.
Our software and servicing solutions can be implemented quickly to replace legacy systems, while integrating smoothly with other APIs and providers. Lenvi technology is designed for scale, growing in step with the expansion of your business and customer base.
Market responsivness
Traditional lending processes are time-consuming and prone to human error. With Lenvi’s market-leading technology, we provide an outstanding level of accuracy and reliability, meaning you can focus your resources on strategy and outstanding customer service.
Robust compliance
Our technology, built on our experience as an FCA-regulated business, ensures full compliance in the era of Consumer Duty, even during periods of rapid growth. Our real-time analytics also enable you to monitor your portfolio proactively, providing timely support to vulnerable customers.
Unrivalled risk management
Underpinning the wider market challenges is the increasing need for lenders to protect themselves from downside risk. The data insights available through Lenvi provide you with an exceptional standard of risk management.
Oversight of your portfolio becomes much more accurate and far less time consuming. Through gaining a greater understanding of your customer base, you will also create powerful opportunities for growth.
Clients who trust us
What our clients say about Lenvi
The new loan administration system is a key part of our investment in digital transformation and we are delighted to be working with Lenvi. This is a long-term partnership that will help us to drive operational efficiencies and better manage our customer portfolio of over 2,500 Welsh businesses as we support them with their commercial funding needs.
By proactively looking at world and financial events, we have been able to adjust our affordability model. It also made us look at customers we’ve already lent to from a credit risk perspective. We’ve looked back and tried to understand what percentage of our customer borrowing base would still have a financial buffer, if they’d applied with us today for a loan. We then identified the highest risk customer segment and have been reaching out to them to say - if they are struggling, we’re here to help.
Why Lenvi?
A wealth of expertise. Lived experience. A track-record of success. On-hand human support. Lending solutions that deliver industry leading innovation.
of credit assets are expertly managed on behalf of our clients
every 5 seconds a new loan application is processed on our platform
trust our platforms and services to deliver for their customers
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Check our solutions for unsecured lending
Reduce costs, increase efficiency and use one tool to manage your collections cycle. Let us streamline your operations.
Deliver a seamless lending experience to digital customers using intelligent workflows, improved data transparency, fully customisable tools and a collaboration layer that lets you deploy new features easily.
End-to-end solutions offering ultimate peace of mind for both securitised and non-securitised portfolios.
Talk to our team to see how we can help
Book a meeting with our team of experts to discuss your needs.
