Two award-winning fintech companies have entered into a partnership to help ethical finance companies compete more effectively with mainstream providers.
Glasgow based Soar and London based Payments Technology Platform Acquired.com are integrating their technology platforms to help credit unions and other ethical organisations provide more streamlined and transparent services.
Soar’s cutting edge banking technology platform is already being used by 10 credit unions around the UK and they will now have access to Acquired.com’s entire suite of award-winning payment products allowing a host of new services like automated reconciliation and for the first time - complete transparency over the entire payment life cycle.
Soar’s founder and CEO, Andrew Duncan, said: “This is an important partnership for us and a statement about how we intend to improve business processes for our ethical clients. It will also allow their customers to view, manage and pay for a variety of services through one mobile and desktop application.
“Our clients will not be playing catch up with mainstream players as they are now enjoying the latest cutting-edge tech, which is a match for any organisation in the financial services sector.”
Rob Clark, Managing Director of Acquired.com, said: “Acquired.com was born in the highly regulated Consumer Finance sector and has always been committed to helping businesses serve their customer better. We believe that credit unions play a key role in offering fair and transparent banking and credit products to communities all around the country, which we are delighted to play a part in.
“Using our award-winning payment technology, Soar’s clients will be able to gain a much better insight into their customers using our rich payment data.”
In the last quarter Soar has been awarded over half a million pounds of research and development grants and this new partnership is seen as a further boost as the company looks to expand throughout the UK and into overseas markets.