On Tuesday, point of demand lending platform, Pay4Later, announced it has signed a deal with new partner peer-to-peer (P2P) lender, Lending Works, to join its fast growing consumer lending platform.
The deal means Pay4Later may now extend market reach and increase credit acceptance for merchants while Lending Works can now safely and effectively originate point of sale consumer loans.
Lending Works joins existing Pay4Later partner lenders Close Brothers, Omni Capital, RateSetter and Shawbrook in adopting platform as a service (PaaS), which features automated processes and sophisticated“rate for risk” credit decisioning.
Nicholas Harding, CEO of Lending works stated:
“We are delighted to partner with Pay4Later. Their platform gives us instant access to new retail finance markets and allows us to build a book quickly and efficiently.”
Scott Law, Founder & CEO of Pay4Later added:
“We’re thrilled to welcome Lending Works to our platform. Here is a business that shares our desire to innovate and provide world class consumer finance solutions.”