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EQ Credit Services Delivers Digital Loan Management Platform For MYJAR

Tuesday, 11 August 2020

EQ Credit Services (EQCS), the UK’s leading consumer credit technology and outsourced services provider, today announces it has delivered a flexible loan management solution for direct online lender, MYJAR.

MYJAR is a responsible lender which helps customers facing temporary financial shortfalls, offering loans from £100 to £2,000, repayable over three, six or twelve months. EQCS worked with the lender to quickly replace its existing, outdated loan management system with EQCS’ API-led platform. The installation was completed in less than six months and is now fully integrated into MYJAR’s in-house origination system, resulting in a fully scalable, flexible end-to-end solution. MYJAR is now able to leverage EQCS’ scalable platform, including a digital self-service environment to improve customer experience and flexibly support customers’ repayment journeys.

“The partnership between EQCS and MYJAR is a real alignment of values,” says Caroline Walton, Group Chief Executive, MYJAR. “We’re both committed to using digital technology to underpin responsible lending and provide exceptional levels of customer experience. We have been impressed that EQCS was able to step-in at such short notice to transform our loan management and collections capabilities in under six months. Not only can we now provide our customers with the tools to conveniently make payments and manage their accounts online but we now also have EQCS’ fully scalable platform providing us with the tools to launch new products and services with speed and ease.”

Richard Carter, Managing Director, EQCS, adds: “We are delighted to be working with dynamic online lender, MYJAR, to underpin its loan management function. Like MYJAR, we also focus on a digital-first approach to loan functionality. Our cost-effective, API-led solution is enabling lenders to enhance automation, customer self-service and operational scale and efficiency, while remaining compliant with regulation.”

In addition to working with EQCS - which is part of the international technology-led services and payments specialist EQ (Equiniti Group plc) - MYJAR has chosen EQTek to support its IT services function out of its Krakow-based technology hub.

EQCS is transforming the future of lending by delivering flexible, agile solutions that support the entire lifecycle of a loan. It operates across a diverse range of financial services companies including banks, investment banks, building societies, motor finance, specialist finance and challengers.

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For more information:

Tulchan Communications

Martin Robinson
Tel: +44(0)20 7353 4200

Notes to Editor:

About EQ (Equiniti Group plc):

EQ provides accessible digital services for regulated markets. It specialises in equity and investment products, pensions, payments and regtech.

EQ is working to become a business with a stronger purpose. Its aim is to care for every customer and to make its services accessible for everyone, delivered with less of an impact on the environment.

It is the UK’s leading provider of share registration, employee share plans, and associated investor services, and also has market leading positions in pension administration and software, and employee benefit schemes. EQ’s services, which are delivered by over 5,000 employees, benefit 36 million people in the UK and 120 countries around the world.

EQ is listed on the London Stock Exchange as Equiniti Group plc.

About EQ Credit Services

EQ Credit Services builds innovative solutions that are transforming the credit industry. Offering a complete outsourced credit management solution, combining award-winning proprietary technologies, specialist personnel, FCA compliant processes and industry best practice.

EQ Credit Services delivers flexible, agile solutions that support the entire loan life cycle process. The scalable platform enables lenders to increase efficiencies, reduce time to revenue and improve operations.

‘EQ Credit Services’ is the trading name of the following companies: Pancredit Systems Limited (Registered in England and Wales no. 02215760), Equiniti Gateway Limited (Registered in England and Wales no. 06729467) and The Nostrum Group Limited (Registered in England and Wales no. 04274181). Part of the Equiniti Group.
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