How they describe themselves: Nostrum provides technology to make lending cheaper, faster, and safer. Our technology is used by banks, finance companies and retail brands to make faster, more informed credit decisions, reducing their credit defaults and facilitate cheaper credit. A high level of customer self-service and automation combines to reduce lender operating costs and interest rates whilst also providing exemplary customer service. Emerging regulatory requirements focus on transparency and treating customers fairly – these principles are embedded within our software. The software is provided on a fully managed SaaS basis through dual secure, high availability data centres.
How they describe their product/innovation: Our research shows that consumers want to be in control and service their own accounts at a time and place that suits their lifestyles. Nostrum understands that to maintain customer loyalty, lenders need to offer an experience that encourages flexibility and the freedom to amend their loan in a simple, quick and transparent way. The next iteration of Nostrum’s core lending system satisfies this requirement and offers a lending solution that is cheaper, faster, and safer, reducing operational costs for lenders whilst also providing the required level of support 24/7 to allow consumers to get information immediately whenever they want and, critically, though a secure FCA compliant channel.
Product distribution strategy: Direct to Business (B2B)
Bus. Dev. & Sales: Richard Sunman, Head of Commercial, firstname.lastname@example.org
Press: Laura Priestley, Marketing Executive, email@example.com