Over 8 million individuals utilize credit to cover everyday home costs, and several of them battle to access reasonable, affordable credit. Community loan providers provide one option to profit-driven economic solutions – but with no deep pouches to buy such things as advertising or technology, they usually have remained underneath the radar. Chris Gorst, from Nesta Challenges, as to how a brand new competition is motivating collaboration with fintech innovators to contour a kinder individual financing market.
Are community loan providers certainly one of the UK’s best-kept secrets?
With several credit unions and community banking institutions now providing cost cost savings and loans items, and also present accounts and mortgages, could these be an alternative that is viable mainstream, profit-driven economic solutions? Continue reading Can tech help reinvent the community sector that is lending?