"We're bringing a product to the UK market that benefits everyone from lenders to borrowers as well as regulators, by creating a high standard for industry confidence."
Canadian company Katipult has launched its peer-to-peer lending software in the UK.
Katipult has partnered with payments company Mangopay to create P2P lending software which facilitates the entire investment process from marketing and distribution through to investor tax reporting.
Holder of an e-money issuer licence passported to all 31 EEA countries, Mangopay is a multi-currency payment solution which accepts cards, bank transfers and Direct Debit.
Its solution will enable platforms to hold lender funds and receive earnings in a wallet in a secure and compliant way.
Brock Murray, CEO of Katipult, said: “Katipult is excited to offer bespoke P2P lending software with Mangopay as a payment solution to complement our investment crowdfunding solution. The level of sophistication and security required to properly service the debt markets is unique and we're bringing a product to the UK market that benefits everyone from lenders to borrowers as well as regulators, by creating a high standard for industry confidence."
Céline Lazorthes, CEO of Mangopay, commented: “P2P platforms require a high level of technical specification and functionality. The partnership between Katipult and Mangopay perfectly answers this need. Katipult offers a powerful software combined to Mangopay's seamless payment solution.”