Nostrum Group enters secured loan processing market

Clearly Loans is a secured, second charge lender providing loans typically £5,000 to £100,000 over terms of 5-20 years. After launching in the UK in 2013, it recently extended its coverage to include Northern Ireland where it has established a differentiated niche. The Nostrum engagement involves it providing its scalable platform and specialist resources to support core loan processing including customer services and collections.

Commenting on the deal with Clearly Loans, Richard Carter, Chief Executive of Nostrum said:

“We’re delighted to be supporting Clearly Loans and see that the secured loans market has huge growth potential. Not only does this engagement confirm our ability to provide technology to this sector, our servicing capability also eases market entry for new start businesses.”

On choosing Nostrum, Garry Monaghan co-founder and director of Clearly Loans said:

"From the outset of our discussions with Nostrum, it was evident that they had the correct mix of experience and technology to help launch our business and support our longer term ambition. I’m delighted with our engagement and the services Nostrum provide and look forward to a long working relationship with them.