Oakbrook announces partnership with Modulr

Oakbrook has announed a new partnership with payments automation platform Modulr. The partnership will enable the lender to expand its repayment choices for customers and strengthening its technology-enabled servicing platform with the launch of Variable Recurring Payments (VRPs).

The introduction of VRPs gives customers an additional way to manage their loan account repayments alongside Direct Debit and a broad suite of payments capabilities. Customers now have more flexibility and choice, with clear visibility of payment amounts and the ability to manage consent through their banking provider.

By expanding repayment flexibility, the partnership will enable Oakbrook to give customers more control and transparency in how they manage their loan repayments.

Rich Payne, Chief Operating Officer at Oakbrook, said “At Oakbrook, we believe repayment should feel straightforward, transparent and predictable – particularly for customers who value clarity and control in how they manage their finances.

“Direct Debit remains an important and trusted repayment method for many customers. By introducing Variable Recurring Payments as an additional option, we’re giving customers more choice in how they repay, recognising that financial management isn’t one-size-fits-all.

For us, serving underserved borrowers means designing systems that are clear, supportive and built for long-term sustainability. Strengthening our payment infrastructure is part of delivering consistent customer outcomes while maintaining the operational discipline that underpins our platform.”

Melek Pirgon, Chief Product Officer at Modulr,  said “At Modulr, we’re focused on moving money with accuracy, control and reliability at scale. In lending, this means making repayments work better for everyone. Borrowers value choice and transparency, whilst lenders need streamlined, dependable operations. Variable Recurring Payments deliver on both, and we’re pleased that Oakbrook has selected Modulr to bring greater flexibility across repayment journeys alongside improved operational efficiency.”