Monevo, Europe’s largest personal loan market place and platform, has launched Credit Staq for the UK market; a cutting-edge tech solution which gives consumers access to a comparison of pre-approved lending options from across the whole market.
For the first time, Credit Staq allows Monevo partners, including comparison sites, fintechs and consumer brands to present and compare pre-approved loan offers from Monevo’s panel of personal loan lenders natively within their own environments. Originally designed for the US market the platform leverages AI, Machine learning and deep integrations with over 150 lenders and banks globally. The ground-breaking new solution empowers brands to create fully integrated credit solutions within their apps or website by harnessing the power of Monevo’s API.
Monevo’s API returns real time results back to integrated partners’ systems or, alternatively can support various lighter integration options including embeddable widgets, hosted results pages and entire white label websites. By integrating with Monevo, consumer-facing brands can monetise their customer base by connecting their consumers to the right credit lending options at the right time.
Monevo is part of Quint Group, a UK headquartered, highly innovative, multi award-winning fintech company. Greg Cox, co-founder and CEO of Quint Group, said: “Monevo has always been committed to creating fintech that ultimately improves consumers’ access to the right credit. Credit Staq ensures consumers find the right credit product for them quickly and easily and gives brands the opportunity to connect their customers with market leading pre-approved loan comparison and search.
“Credit Staq also gives banks a new opportunity to offer their consumers a wider personal loan proposition for customers they are currently unable to service, increasing customer satisfaction and maintaining brand loyalty.”
Tim Kirby, Group Commercial Director at Quint Group said: “Credit Staq is about getting consumers the right deal quickly and easily. Consumers want the technology to do all of the heavy lifting for them to and to provide them with the best options to make an informed decision in an online environment they trust. Our innovative platform searches the whole of market to serve them personalised, pre-approved loan options in minutes.
“This technology can be utilised by any brand with a large customer data base. Anyone from online retailers, insurers or mobile apps can now brand a personal loan marketplace as their own and create instant revenue streams by giving their loyal customers a new service. These secondary lending market places also offer the banking sector an opportunity to generate revenues from their declined, or non-prequalified customer base, which is a huge shift for banking institutions to consider selling third party financial products but a massive commercial and consumer-centric opportunity.
“In 2019 consumers want and expect online marketplaces and challenger banks are already proving that customers want access to alternative products through their banking relationships. Mainstream banks currently have a huge opportunity to offer this type of experience to their customers and risk being left behind if they do not leverage Monevo’s unrivalled infrastructure and intellectual property through Credit Staq.”