“Lending Stream receives full authorisation from FCA”
Lending Stream, one of the UK’s largest online consumer credit providers, has been granted full
approval and permission to trade by the Financial Conduct Authority, following rigorous scrutiny of the
business and its operating processes.
Lending Stream was formally notified on 21/07/16 of its authorisation, which will enable the firm to
continue its growth within the sector. The firm is amongst the top four largest online short-term credit
providers in the UK.
Chris deBoer, CEO of Lending Stream says: “This is an important milestone in the development of the
firm and marks the next stage of our growth and continued service to customers. We take responsible
lending and customer satisfaction extremely seriously, and this news is testimony to the high quality of
our credit products, our operating procedures, our brands and our employees.”
This marks a particularly noteworthy day for Lending Stream’s parent company – Global Analytics, a
respected fintech leader. Today, 21/07/16, Global Analytics also launched an innovative, lower-interest
credit product for people in the financial middle: Drafty. As an alternative to payday loans and
emergency overdrafts, Drafty aims to be an affordable new way to borrow cash fast.
Mr deBoer says: “We are delighted that the high-quality of our operating processes and credit products
has been recognised by the FCA, following a period of intense scrutiny of the business to ensure we
meet the FCA’s standards.”
“Authorisation couldn’t have come at a more important moment in our company’s future. Our goal has
always been to grow with our customers along their financial journey. We just made tremendous
headway with authorisation, and believe our customers will be able to do the same with Drafty.”
Editors’ notes:
About Lending Stream
Lending Stream is one of the UK’s leading short-term financial services companies. Established in 2008,
Lending Stream has grown to become one of the top short-term online lenders by revenue, with more
than 1,000,000 loans made in the UK.
The company aims to responsibly change lending to consumers that are not, or do not wish to be,
served by mainstream banks, encouraging responsible behaviour to help improve the financial standing
of its’ customers.
A sophisticated underwriting programme enables the firm to be sure its customers can repay, helping
them to access simple, straightforward financial services that meet their needs.