Redline’s lendtech powers new motor finance platform at Shawbrook Bank
UK-based challenger bank Shawbrook has launched a new lending platform for the motor finance marketplace, powered by Cognition Direct, a direct-to-customer loan decisioning engine from Redline.
Redline is already working with Shawbrook on the bank’s other consumer products: home improvements, retail finance and personal loans.
The vendor says its team “designed, built and implemented” Shawbrook’s lending platform, which provides applicants with “a swift and engaging customer experience”.
Contract agreements are administered and executed by an ID verified e-signature solution, provided by Bonafidee.
Redline says Shawbrook “carried out a thorough external procurement process to fully consider all relevant suppliers in the marketplace” prior to choosing Cognition Direct.
Steve Toms, MD of Redline, says his company “had to prove the ability to respond quickly and to deliver innovative functionality against a backdrop of regulatory change” to win the business.
With so many new entrants trying to muscle into the UK banking sector, Banking Technology has put together a comprehensive list of the known challengers to date and the technology they are using.
