20 September 2017
Visit http://response.ncr.com

Aurora Exchange enlists Maiden Life and Mangopay for P2P lending platform

11 October 2016  |  3269 views  |  0 Source: Aurora Exchange

Aurora Exchange, a consumer loans exchange for responsible borrowers announced two major partnerships that pave way for bringing transparent and cost efficient consumer lending to the European market.

Aurora Exchange is a forerunner in making peer-to-peer lending a trustworthy and natural part of the new financial system.

“Aurora Exchange cuts all unnecessary costs out of consumer lending by bringing borrowers and lenders to one exchange, where both new and aftermarket loans trade for maximum liquidity. With Maiden Life, we can combine the benefits of FinTech and InsurTech in one reliable customer journey.”, says Jarno Piironen, CEO of Aurora Exchange Oy.

“This partnership combines our global reach and innovative insurance solutions with Aurora Exchange's state-of-the art lending platform. We are excited to be moving the financial system towards more transparency and efficiency.” says Keith Medgett, Managing Director of Maiden Life. Aurora Exchange offers Maiden Life's payment protection insurance with no extra cost to cover all loans against borrower's death, permanent and temporary disability with lenders as beneficiaries.

Aurora Exchange has chosen MANGOPAY as its custodian and payments technology provider. MANGOPAY is an e-money issuer, regulated by the CSSF, Luxembourg's financial regulator, with a license in all EEA countries. "Since 2013 we have supported some of the most innovative companies in the FinTech space" says Celine Lazorthes, CEO of MANGOPAY. "We are very excited to support a P2P consumer lending platform as agile as Aurora Exchange."

“We are delighted to work with MANGOPAY. Their solution allows us to rapidly serve new geographies, while giving the customers a peace of mind that their funds are held with a regulated entity backed by French banking group Credit Mutuel Arkéa.” continues Jarno Piironen, CEO of Aurora Exchange.

Aurora Exchange opens for transactions in Finland as soon as filings to the Finnish Financial Supervisory are done. This is estimated to happen by end of October 2016. After the launch in the Finnish market, Aurora Exchange expands rapidly to multiple European markets.

Aurora Exchange is backed by a group of Finnish investors and the Finnish technology investment fund TEKES, and is inviting investors into Series A funding stage to expand the service for global growth. 

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.temenos.comvisit www.capgemini.com

Who is commenting?

A Finextra member Finextra Member Commented on: The C-Suite Challenges...
A Finextra member Finextra Member Commented on: Dutch bank sentences t...

Top topics

Most viewed Most shared
JPMorgan Chase chief says he would fire traders dealing in bitcoin for stupidityJPMorgan Chase chief says he would fire tr...
10581 views comments | 16 tweets | 29 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10223 views comments | 6 tweets | 17 linkedin
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
10168 views comments | 21 tweets | 39 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9095 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7566 views comments | 5 tweets | 4 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job