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Credit Lending

These are both exciting and challenging times for credit lending, a sector which is currently a key area of focus for the Financial Conduct Authority (FCA).

Our expert team provides specialist regulatory support services for new and established firms.

We are currently working with innovative new firms coming into the market to service a range of different sectors including:

    • Short-term lending
    • Salary advances
    • Term loans
    • Asset-backed lending.

Credit lenders operate under a number of different licences including:

    • Peer-to-peer (P2P) lending
    • Direct credit lending
    • High-cost short-term credit lending (HCSTC).

The FCA is particularly concerned with the quality of credit lending firm’s underwriting policies and their ability to manage debt appropriately following drawdown. If you rely to some extent on an algorithm to help you do this, it is essential you have appropriate systems, controls and governance in place around its operation. We can advise you on precisely what the regulator’s looking for here.

A particular area of concern for the FCA has been the HCSTC market, where it introduced a price cap in 2015 and has since carried out a number of reviews looking at how the market works and how it interacts with customers. Again, we can provide practical guidance on meeting the FCA’s requirements.

Whatever model or structure your credit lending firm adopts, we have the experience and expertise to provide a comprehensive and effective regulatory support service in this space. If you’re just moving into the market, we can guide you through the FCA authorisation process, then work with you to keep you fully up to speed with a constantly evolving regulatory landscape.

For more information about our services, call 0207 436 0630 to speak to a member of our expert team or email info@thistleinitiatives.co.uk.


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