24 February 2018
visit www.nextgenbanking.co.uk/

Oakam launches its first smartphone app

28 August 2015  |  3460 views  |  0 Source: Oakam

Oakam, a UK-based lender providing financial services to people who find it difficult to borrow from banks, today announced its new smartphone app is available to download from the App Store.

The app (iOS) marks the first stage of the company’s digital expansion of its proven in-store model with the intention of it being applied across the UK and beyond.

 

The app is unique in its category. Unlike other loan apps, which focus on customer acquisition, Oakam’s app allows current customers to track their payments, balance and how much money they owe. In this way, the app will help borrowers to meet repayments and give them more control over their loans. Additional features of the app allow customers to call a customer advisor direct and view personal loan details.

 

Future versions of the app to be released over the next 12 months will include the latest engagement and incentivisation techniques to positively influence customer behaviour. Advanced data science techniques will also be utilised to design better underwriting processes for both existing and new customers while rewarding Oakam customers with lower interest rates.

CEO Oakam, Frederick Nze said, “At Oakam we’re committed to addressing the needs of the under-banked ethically and sustainably, with a digitally-led solution that is fit for the 21st century. The launch of our first app is the exciting first step - by giving our customers more control over their loans we’re helping them manage their finances effectively. Continual digital innovation over the next 12 months will mean we can confidently expand the reach of our services across the UK and the rest of the world.”

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit http://info.nice.comvisit www.nextgenbanking.co.ukVisit https://www.capgemini.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
11848 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10337 views 3 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8603 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8124 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7798 views comments | 10 tweets | 14 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job