The Advisory Board's purpose is to leverage the passion, talent, and expertise of the UK's PayTech industry to help advance payments innovation.
The Just Loans Group CEO, John Davies, is one of five new members joining the Advisory Board of the Emerging Payments Association (EPA).
The Advisory Board's purpose is to leverage the passion, talent, and expertise of the UK's PayTech industry to help advance payments innovation. The board collaborates to identify common issues faced by the industry and EPA members, determine effective and feasible solutions, and influence relevant regulatory bodies by speaking with a common, unified voice.
This board is now composed of 14 experienced CEOs from leading payments companies who all have a desire to change the payments industry and create a profitable, sustainable payments ecosystem.
John Davies says, "I am delighted to be joining the Advisory Board and to be in a position where I can influence and help shape the EPA's agenda that is focussed on innovation and how to get fair and equal access to the UK's payment infrastructure. With my alternative lender background I am very aware of the need to convince Regulators, the Banks and the Bank of England that alternative payment providers can be trusted with access to the existing systems.
Tony Craddock, Director General of the Emerging Payments Association, commented: "The credentials, knowledge and expertise that these new members bring to the Advisory Board will help drive the growth of the emerging payments industry. It is a sign of our industry coming of age, that such senior executives have decided to collaborate under the EPA's umbrella."
JLG Group PLC is the first alternative commercial lender to be a Professional Associate Member of the British Banking Association.
The Group entered the alternative finance sector in 2012 with the aim of building a robust, scalable, Anti Money Laundering (AML) compliant process for on boarding Corporate Borrowers in the UK and eventually Europe. This was achieved through increasingly using FinTech to streamline the application process and deliver exceptional customer experience.
Having fully proven the model across the Just Loans portfolio, the Group is now positioned to provide these services additionally to Financial Institutions with a need to balance the management of costs with their regulatory obligations under the Anti Money Laundering legislation.
By doing so, both new entrant and established, Financial Institutions are able to serve the business and small corporate market cost effectively and with an improved quality of service.
The Group has invested heavily in developing its proprietary PropensityPlus scoring model. This is proving to be a major competitive advantage as it drives a comprehensive underwriting process, enabled by the latest technology, leveraging a wide variety of current and historical data points, many of which are not used by traditional banks or other lenders. This provides extensive insight into the propensity for both the Directors and businesses to be successful going forward.
PropensityPlus achieves significant efficiencies leading to a faster finance application process and a much improved impairment experience across the loan book.
These benefits are seen as attractive both to borrowers and stakeholders as a whole
PropensityPlus is a Registered European Union Trade Mark of JLG Group PLC under No. 15316797
The Emerging Payments Association (EPA) is a community comprising the UK's most progressive and collaborative payments companies.
The EPA helps them influence the payments landscape and collaborate with those operating in it, whether they are buyers, sellers or partners. Operating since 2004, the EPA now has over 100 member companies, has the support of UK government agencies, and regularly communicates with regulatory bodies to help advance payments innovation.
The EPA is led by an independent Advisory Board and has the support of Benefactors such as MasterCard, The Bancorp, Just Loans Group and SVS.