Ophelos, the technology firm building “fairer” debt resolution for businesses and their customers, announces it has partnered with Plend, an “ethical” consumer lender using Open Banking “to provide affordable loans to those struggling with access to credit.”
Both pending B-corporations, Plend and Ophelos are closely “aligned in their commitment to building fairer, more accessible financial solutions with social impact at their core.”
The partnership will see Ophelos “transform how Plend manages the support of customers who may find themselves in arrears.”
Having experienced challenging debt management processes firsthand, CEO and co-founder Robert Pasco sought “a tech-driven collections partner whose ethics around debt resolution aligned with that of Plend’s purpose-driven approach to credit.”
Ophelos’ proprietary machine learning platform will “help Plend to engage with, and support its customers facing debt – giving them options to resolve their debts through manageable instalments via personalised repayment plans.”
Launching in 2022 with registrations for Early Access now open, Plend is “an ethical consumer lender providing affordable loans for individuals in the UK with thin or inaccurate credit files struggling to gain access to credit.”
Using Open Banking technology, Plend utilizes “a fairer way to assess creditworthiness, dubbed “the PLEND Score®”, which makes lending decisions on an individuals’ transaction history and spending behaviour, enabling Plend to tailor a loan to their unique needs.”
Amon Ghaiumy, CEO and Co-Founder of Ophelos, stated:
“It’s really great to be working with a company like Plend that not only aligns with our purpose as a business, but is actively working to improve the lending ecosystem. At Ophelos we’re dedicated to ensuring that customer relationships are appropriately managed across the entirety of the customer lifecycle – not just at the point of sale – which is why working with Plend was a no-brainer. We’re excited to be working with Rob and his team as they work to build fairer, more accessible lending products for customers in the UK.”
Robert Pasco, CEO and Co-founder of Plend, remarked:
“Ophelos’ technology-driven approach will be invaluable to ensure our customers at Plend are given the care and attention they deserve when resolving their debts. As a pending B-corporation like ourselves, Ophelos understands the importance of putting people first and managing customer relationships with a degree of empathy. Debt resolution needs to be accessible for our customers, not an afterthought, which is why Ophelos’ debt resolution technology platform will become a core part of our lending platform.”
As noted in a release, Ophelos is the technology firm “dedicated to building fairer debt management products for businesses and their customers.”
Marrying proprietary machine learning technology with a caring, empathetic and attentive approach, Ophelos “simplifies, digitises and automates the debt resolution process while empowering businesses and their customers to take control of their financial health.”
Through Ophelos, customers can now “resolve their debts on their own terms by setting up manageable instalments through personalized repayment plans, while businesses can get critical insights into their customers’ financial wellbeing.”
Ophelos is authorized and regulated by the FCA “for debt-collection activities and a Pending B Corporation.”