EQ Credit Services announces delivery of digital loan management platform to MYJAR

By Megha Bhattacharya

UK-based consumer credit technology and outsourced services provider, EQ Credit Services (EQCS) announced that it has provided a flexible loan management solution for a direct online lender, MYJAR. EQ Credit Services stated that it has worked with the lender to replace its loan management system with that of EQCS’ API-led platform. The direct online lender is now able to use the company’s platform for improving customer experience and supporting customers’ repayment journeys.

“The partnership between EQCS and MYJAR is a real alignment of values,” said Caroline Walton, Group Chief Executive, MYJAR. “We’re both committed to using digital technology to underpin responsible lending and provide exceptional levels of customer experience. We have been impressed that EQCS was able to step-in at such short notice to transform our loan management and collections capabilities in under six months. Not only can we now provide our customers with the tools to conveniently make payments and manage their accounts online but we now also have EQCS’ fully scalable platform providing us with the tools to launch new products and services with speed and ease.”

MYJAR has also selected EQTek for supporting its IT services function out of its Krakow-based technology pub. MYJAR aims to help customers facing temporary financial shortfalls with loans from £100 to £2,000, repayable over three, six, or twelve months.

Richard Carter, Managing Director, EQCS, added, “We are delighted to be working with dynamic online lender, MYJAR, to underpin its loan management function. Like MYJAR, we also focus on a digital-first approach to loan functionality. Our cost-effective, API-led solution is enabling lenders to enhance automation, customer self-service, and operational scale and efficiency while remaining compliant with regulation.”