The move will see Scotland’s only fintech lending platform use Brismo’s standardised loan performance metrics.
Edinburgh based LendingCrowd is the latest lending platform to partner with Brismo to provide independently verified performance metrics for investors.
Brismo’s platform provides detailed loan book analysis, including loan origination figures, risk bands of borrowers, term and interest rate of outstanding principle and independently verified data on the arrears and default rate.
Another recent sign up to Brismo’s metrics was US giant Lending Club who said standardisation can help to improve transparency for investors in loan assets.
Mike Allan, Director of Operations, LendingCrowd, said: “We are proud of our track record and believe in enabling transparency so that investors can compare performance across the lending sector. LendingCrowd has made great strides in scaling the business while remaining committed to robust credit processes and responsible lending.”
Rupert Taylor, founder and CEO, Brismo, said that LendingCrowd is scaling its operations and diversifying its funding base at an "impressive" rate.
“We are delighted that LendingCrowd is the latest leading platform to join Brismo and we look forward to helping illustrate the company’s impressive track record to investors."
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