Target Group Appointed As Standby Service Provider
Proplend is pleased to announce the appointment of Target Group, the financial services outsourcing and software business, as standby servicing provider. With the Financial Conduct Authority increasing its oversight of the peer to peer sector, the introduction of the Innovative Finance ISA (IFISA) in April and the expectation that peer to peer lending volumes will exceed £3.5 billion in 2016, resilience planning is a critical component of the platform’s business plan.
Brian Bartaby, Founder & CEO of Proplend added:
“Proplend has an ongoing responsibility to both our investors and the regulators to ensure that we provide a consistent and reliable service. Target, with their excellent track record and experience in commercial loan servicing, will help us deliver this as we continue to grow. Proplend is very pleased to have appointed Target to work with us in this way”