Stuart Law

Assetz Capital to launch broker portal after Covid-19 crisis

Assetz Capital is looking to launch a series of fintech initiatives once we are through the current market turmoil from the Covid-19 crisis.

In an exclusive interview with B&C, Stuart Law, CEO at Assetz Capital (pictured above), said one of the innovations the P2P lender was planning to introduce was a broker portal, designed to “transform” the way its business works, and “significantly improve” the broker and borrower experience.

Stuart also said that the lender had a number of new products to launch in mind, but the majority would be put on hold until later in the year.

“However, there may be some new developments depending on our involvement in government initiatives,” he added.

Following the news that Assetz Capital exceeded £1bn of lending to SMEs and housebuilders across the UK, Stuart said that its next long-term goal would be to have a live loan book of £1bn.

However, the P2P lender is currently focusing on short-term solutions to deal with the effects of the coronavirus crisis on the specialist finance industry.

“In that context, our next milestone is to help carry out significant deployment of government and/or Bank of England funds to power the economy through and out of the other side of this pandemic — getting money into the hands of SMEs and housebuilders as quickly as possible,” said Stuart.

“Ultimately, we’re seeing a slowdown of money flow throughout the entire economy, which is putting the majority of businesses under pressure. 

“For now, we need to stay the course and do everything we can to navigate through this difficult period.”

Stuart credited the lender’s “agile fintech” business structure to allow it to quickly “re-engineer” the way it worked in order to cope now and “thrive” moving forwards.

“That covers everything from moving to remote working, to creating new products, to serve businesses now and in the future.

“We are very much a relatively speedy tortoise, rather than a hare in this race, but that slower, more sustainable growth has still led to us lending £1bn in just seven years.”

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