• Company
  • Group
  • Information
  • Investments
  • News
  • Contact
JLG Group Logotype

News

Lending weight to UK lobby on fairer access

We're benefactor of Emerging Payments Association's Project Rome. Project Rome targets fair and equal access to payments infrastructure.

JLG Group PLC has announced that it has become a benefactor of ‘Project Rome’, a campaign from the Emerging Payments Association (EPA) lobbying for fairer access to payments infrastructure through FinTech providers.

JLG Group PLC was formed 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 has enabled us to provide much needed alternative finance to UK businesses that want to invest and grow.

CEO John Davies says, we have successfully met this challenge and want to expand the range of services we can provide. However, in common with other FinTech providers we are faced with the 'access challenge' - how to get fair and equal access to the UK's payments infrastructure.

"Understandably this is controlled by the Banks that over the years have created and heavily invested in the existing payments' system. However, we believe change is now needed as we believe innovation, competition and customer choice is being restricted. This is becoming even more important to our business as we are planning to launch our own banking service later this year."

"We are delighted to be investing in what I see as the most effective way of bringing about change by becoming a Benefactor of the Emerging Payments Association’s (EPA) Project Rome. This logically follows closely on the heels of the Group becoming the first alternative commercial lender to become an Associate Member of the British Bankers' Association”

The JLG Group is just one voice advocating change but the EPA speaks for 100 companies and organisations from across the payments ecosystem. Project Rome is determined to lobby strongly for collaborative change to the UK payment system.

The aim is to build a long-term solution that provides fair and equal access while paying due credit to the founding Banks. A key component of this is 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, Emerging Payments Association, explains: “The aim of Project Rome is to build a long-term solution that provides fair and equal access while paying due credit to the founding Banks. A key component of this is to convince Regulators, the Banks and the Bank of England that alternative payment providers can be trusted with access to the existing systems.”

John Davies adds, "One of the ways The JLG Group first started to address the 'access challenge' was to invest heavily in enhanced AML and KYC procedures. This type of action by alternative payment providers will build trust and allay understandable concerns."

Notes

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 JLG 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, JLG Group and SVS.

For more information about the EPA please go to www.emergingpayments.org/about-us/

@EPAssoc

Ana Giese EPA Marketing Manager

ana.giese@emergingpayments.org

Press Release

Date Issued September 2016.

  • Back to News Overview
  • @jlggroup
  • LinkedIn

The Group entered the alternative finance sector with the aim of providing a real alternative to Business Banking and has built a robust, scalable, Anti Money Laundering (AML) compliant process for on boarding Corporate Borrowers in the UK and eventually Europe.

JLG Group PLC is the first alternative commercial lender to become an Associate Member of the British Bankers' Association.

We are a benefactor of 'Project Rome', the campaign from the Emerging Payments Association (EPA) lobbying for fairer access to payments infrastructure through FinTech providers.

ISO

JLG Group PLC has been certified by BSI to ISO 9001:2015 and 22301:2012 under certificate numbers FS 668057, BCMS 668054.

AABF

And one of the seven founder members of the AABF

Social

  • @jlggroup
  • LinkedIn

Group Companies

  • Just Cashflow
  • Just Bridging
  • Just Finance
  • JLG C1 Bonds PLC

Covid 19

  • Risk Assessement

Announcements

  • Susanne Chishti FinTech Recognition Feb 2020
  • JLG Groups raises £85M in Bond Sale Nov 2019
  • JLG Groups joins LSE Elite Nov 2019
  • LSE 1000 Companies to Inspire Britain Report Nov 2019
  • John Davies appointed to Emerging Payments Association Advisory Board Jan 2019
  • Just Cash Flow PLC ‘A’ rated investment option. October 2018

Useful Links

  • Company
  • Information
  • Annual Report
  • Debentures
  • Share Exchange
  • Bonds
  • News
  • RNS
  • Contact us

Data Protection

  • Privacy Policy
  • Cookie Policy

Website Security

  • Overview
  • GlobalSign
  • Hyve

Registered Office

JLG Group PLC
1 Charterhouse Mews, Farringdon, London EC1M 6BB

Registered in England and Wales Company number 08062555

SSL

Your Privacy is important.

We use cookies to make sure you get the best experience on our website. You can find out more about how we use cookies in our Cookie Policy

In accordance with the Data Protection, any personal information provided will be treated in the strictest confidence so we promise not to re-sell or distribute your data. Our Privacy Statement describes which personal data is collected and for which purposes such personal data is processed by us.

We are also commited to the EU e-Privacy Directive. JLG Group PLC has a strictly no-spamming policy, we don't like it and we know you don't either.

Privacy Policy | Cookies | Using this site

JLG Group PLC © 2012 - | All logotypes are copyright their resepctive owners.

PropensityPlus is a Registered European Union Trade Mark of JLG Group PLC under No. 15316797