UK financial employee benefits provider Neyber has launched a new consumer lending platform that will allow employers to offer loans at low interest rates.
The loan repayment will be done through a salary deduction technology that directly integrates with employer payroll systems, without the requirement of bank interaction throughout the entire lending process.
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The launch of the platform comes on the heels of a £6m fund raising by Neyber in a Series A funding round.
Neyber was founded by ex-Goldman Sachs employees Martin ljaha and Monica Kalia, as well as fintech specialist Ezechi Britton.
Commenting on the new platform, Ijaha said: "Through Neyber we have created an exciting alternative lending platform which aims to address some of the challenges faced by existing alternative lenders. Neyber’s disruptive approach to consumer lending allows us to better manage borrower defaults and originate loans at a vastly lower cost of acquisition and find credit worthy borrowers.
"Employers gain access to an easy to implement solution that integrates seamlessly with payroll that can also act as a tool for engagement and productivity and reduce stress related absenteeism."
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By GlobalData
