Moneyboat wants to solve one of the most difficult problems for the British public – waiting until payday.
The lender specialises in direct, short-term loans and has been recognised for its focus on responsible lending.
When the Covid-19 pandemic struck, Moneyboat anticipated increasing default rates from customers.
It also realised that CRA data alone would fail to identify income shocks and furloughed employees, and was battling with long application processing times through manual review of PDF bank statements.
Moneyboat turned to open banking to help solve their problems.
