Leading UK fintech employee benefits provider opts for altfi technical platform
Cloud Lending Solutions, a cloud-based, end-to-end lending platform, today announced that Neyber, a leading UK provider of financial employee benefits, has chosen and implemented CL Originate, CL Loan, and CL Collections to support the rapid growth of its business.
Neyber is a UK based provider of financial employee benefits that enables employees to reduce borrowing costs with access to affordable loans integrated with payroll, at no cost to the employer.
Neyber’s technology integrates with existing payroll systems enabling employers to offer an easy-to-implement workplace financial solution that drives employee engagement, productivity and helps to reduce stress-related absenteeism. Neyber’s affordable loan rates have delivered an effective 5% pay rise to its borrowers, by enabling them to consolidate their debts, saving them up to 20% on monthly debt repayments.
Neyber was founded by former Goldman Sachs investment bankers Martin ljaha and Monica Kalia along with financial technology expert Ezechi Britton. Ezechi is Chief Technology Officer at Neyber and has ingrained tech into the DNA of the company. The founders joined together to deliver a genuine alternative to the solutions offered by financial service providers whose high borrowing rates and low returns on savings have helped to create an unprecedented era of financial stress.
Neyber has chosen the following Cloud Lending Solutions applications to digitise their origination, underwriting, servicing and collections for their lending operations:
- CL Originate™, a cloud-based origination and underwriting platform, enables users to automate and simplify the origination and underwriting process, customize and adapt to evolving market environment, and integrate effortlessly across disparate systems to optimize business processes.
- CL Loan™, a cloud-based end-to-end loan management platform, enables users to manage loans, lines of credit and other financing arrangements under one robust and secure platform. It efficiently manages portfolios, increases transaction volume and rapidly brings new products to market.
- CL Collections™ is an advanced collections solution that enables lenders to define and automate their collection process.
Commenting on Neyber, Cloud Lending Solutions CEO, Snehal Fulzele said:
“Neyber chose Cloud Lending Solutions because they wanted an end-to-end loan management platform that also allows them to be agile and responsive to changing regulations and business needs. The scalability of our platform will support Neyber’s growth plans, allowing them to focus on their business and continue to bring new, innovative Fintech offerings to market.”
Commenting on Cloud Lending Solutions, Neyber CTO, Ezechi Britton said:
“Neyber’s mission is to pioneer the creation of workplace communities that will enable employees to borrow and save together at fairer rates and reduce the indebtedness of the UK’s workforce, and in turn, help increase staff engagement and productivity. In combination with our own proprietary technology Cloud Lending Solutions’ platform will support the growth of our business and enable it to fulfil this mission.”