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News and resources on regulation, compliance, legal and governance issues for banks and fintechs.

Salt gets FCA approval to provide consumer lending services

Source: Salt

Salt is proud to announce that it has received regulatory approval from the Financial Conduct Authority (FCA) to provide consumer lending services.

This is a significant milestone in the company’s journey towards revolutionising boat ownership through its new app. The incredible success they are seeing in their current Seed funding round has further validated SALT’s exceptional business potential and instilled confidence in its ability to facilitate growth.

Initially scheduled to close at the end of May, SALT’s seed funding round is still attracting interest from a diverse range of investors across the UK, a testament to the confidence in their vision and potential for high returns. Those interested in helping to shape the boat finance revolution should contact Joe Dalton directly.

With its unique app and 21st century banking technology, SALT is simplifying the boat-buying process. Their 24/7 platform offers fast credit decisions, and real-time updates for customers and boat retailers, ensuring transparency in transactions. This allows borrowers and boat dealers to proceed at a pace that suits everyone, making the boat purchase journey seamless and efficient. The app, backed by professional support via web chat and phone, enables individuals to hit the water at the earliest opportunity.

As SALT gears up for the app launch this summer, it is delighted to welcome Rob Cottingham as its new Chief Risk Officer. Rob’s extensive experience in risk management and compliance, coupled with his passion for innovation, automation, and AI, will be instrumental in propelling SALT’s ambition to bring 21st-century finance to the leisure marine sector.

Joe Dalton, SALT’s CEO, said: “Bringing someone on board with Rob’s vast experience in risk management and compliance, coupled with his passion and skills in innovation, automation and AI, will greatly accelerate SALT in its ambition to bring convenient, fast, 21st-century finance to the leisure marine sector. The entire SALT team is overjoyed to welcome Rob, and already the sparks are flying for future innovative ideas that will support our purpose of making it simple for more people to enjoy the oceans today and tomorrow!” 

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