UK-based ethical debt management platform Ophelos has partnered with new consumer lender Plend.
Through the partnership, Ophelos’ machine learning platform will enable Plend to engage with and support customers who are in debt by providing options to pay it back via manageable installments and personal repayment plans.
Launching this year, Plend bills itself as an ethical consumer lender providing affordable loans to people in the UK who struggle to gain access to credit.
Using open banking technology, Plend says it uses a “fairer way” of assessing creditworthiness – the PLEND Score – making decisions based on an individual’s transaction history and spending behaviour and then tailoring a loan to the individual’s needs.
“Ophelos’ technology-driven approach will be invaluable to ensure our customers at Plend are given the care and attention they deserve when resolving their debts,” says Robert Pasco, CEO and co-founder of Plend.
“Debt resolution needs to be accessible for our customers, not an afterthought, which is why Ophelos’ debt resolution technology platform will become a core part of our lending platform,” he adds.