LSB adds SME lender Iwoca to business standards registration

The Lending Standards Board’s (LSB) has announced Iwoca, as the latest firm to achieve full registration to the Standards of Lending Practice for business customers.

The LSB’s business Standards set the best practice benchmark for SME lending in the UK and can be applied across a range of financial services firms, from digital or challenger firms to high-street banks. They are one of just four industry codes recognised by the FCA.

Iwoca’s full registration with the LSB follows the completion of its interim registration period, during which the fintech SME lender worked with the LSB to ensure its compliance with the Standards.

Emma Lovell, Chief Executive at the said “We are delighted to welcome iwoca into full registration with the business Standards. The more firms registered with these Standards, the more SMEs who are protected. iwoca are helping to lead the way for other digital financial providers to prioritise SME protections, building trust between SMEs and the financial services sector. Registered firms are committed to upholding the highest standards of conduct in lending – delivering tailored and sustainable outcomes to customers amid a challenging economic environmen

“SMEs should always check their finance provider is LSB registered if they want to make sure they have access to independent lending protections.”

Seema Desai, Chief Operations Officer at Iwoca said “Our registration with the LSB’s business Standards provides assurance to our customers that we continue to put fair treatment of our SME customers at centre-stage, and is a sign of our commitment to the highest standards of conduct.”