Landbay selects Oracle NetSuite to support lending growth

Landbay has selected Oracle NetSuite to support its goal of building a more accessible buy-to-let mortgage marketplace for investors, borrowers and brokers.

With the addition of NetSuite, the P2P lender claimed it would be able to attract more users to its platform and process loan applications 10 times faster than other lenders.

The partnership will look to help Landbay achieve its aims of lending £1bn to UK landlords by 2020.

Julian Cork, COO at Landbay (pictured above), said that it was rapidly scaling and to support its growth it needed a technology platform that would enable it to make decisions quickly, while continuing to offer competitive products to its borrowers and lenders.

“For us, growth means signing up more people as investors and providing more mortgages to landlords, so we need to offer competitive rates on both sides.

“NetSuite supports that goal by giving us the insights we need and also frees up our team to build out the best mortgage products for landlords and investors.”

By using NetSuite, Landbay claimed it could approve any loan application in just 48 hours.

Nicky Tozer, EMEA vice-president at Oracle NetSuite, added: “By running its business on NetSuite, Landbay has a solid foundation for growth and can focus its time and resources on continuing to provide its customers with market-leading products and services.”


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