Equiniti acquires Nostrum Group
06 July 2017 | 3619 views | 0
Equiniti Group plc, the FTSE listed FinTech and regulatory services business, today announces the acquisition of the Nostrum Group Limited (Nostrum).
Nostrum is a fast growing, award winning provider of end-to-end loan management technology that helps banks, finance companies and retail brands provide innovative credit solutions to their customers. They deliver services that support the whole lifecycle of lenders’ operations from front-end lead generation and application processing through to customer servicing.
The acquisition strengthens Equiniti’s position in the lending sector and consolidates the strategy of providing technology enabled loan and mortgage solutions to meet the requirements of this fast-moving market place, building on the technology platforms of Pancredit and the loan, mortgage and insurance servicing permissions of Equiniti Gateway.
The lending sector is experiencing unprecedented change as consumers demand greater digital engagement from their finance providers. Equiniti’s capabilities are now united under the Equiniti Credit Services brand which will accelerate product development to meet this growing market opportunity.
Commenting on the acquisition, Guy Wakeley, Chief Executive, said: “We are delighted to announce the acquisition of Nostrum which consolidates Equiniti’s capabilities in the loan sector. The integration of Nostrum will provide greater depth, scale and capability in a dynamic growth market, whilst also providing the platform for a range of new products and services.”
“The business is aligned with the Group strategy of providing regulatory-driven, technology-enabled services, and will contribute to organic growth.”
“I am pleased to welcome Richard Carter, Nostrum’s current Chief Executive, as Managing Director of the newly formed Equiniti Credit Services business.”
Commenting on the transaction Richard Carter said: “Our acquisition by Equiniti and the launch of Equiniti Credit Services represents the next chapter in the development of our business. We are bringing together the best of Equiniti’s rich feature set and Nostrum’s agility. Our solutions and shared heritage will allow us to realise our combined strategic ambition.”