Credit, Collections & Insolvency News
Consumer credit technology and outsourced services provider, EQ Credit Services (EQCS) is announcing a new seven-year contract to provide a digital loan platform and collections services to 247 Money.
The deal follows a successful three-year partnership where EQCS provided its API-led credit servicing platform and collections services to 247 Money.
EQCS’s technology means 247 Money can integrate with Open Banking to demonstrate affordable lending. Access to this real-time data will allow a more accurate understanding of customers with a greater level of personalisation – imperative given today’s fluctuating economy and tighter regulation.
Richard Carter, Managing Director at EQCS, said “Over the last three years, our partnership with 247 Money has seen it grow to become one of the industry’s major players and we expect that trajectory to continue as it strives to offer a greater level of personalisation to customers.”
“Our continued investment in R&D demonstrates the capabilities of EQ Credit Services to provide products that can support our clients in their growth and be flexible to cater for their short, medium and long-term strategies.”
“Our cost-effective, API-led solution is enabling lenders to enhance automation, customer self-service and operational scale and efficiency, while remaining compliant with regulation.”
Alex Hurst, Managing Director of 247 Money said of the deal “Our commitment to our customers is to make car finance a straightforward and positive part of the car buying process. By continuing to partner with EQ Credit Services, we can ensure that we are connected to our customers and continue to offer them the best experience available.”
