Payment and administration services provider Equiniti Group has acquired end-to-end loan management provider Nostrum.
Following the transaction the companies will partner under the new Equiniti Credit Services brand, with this to speed up product development.
Nostrum helps banks, finance companies and retail brands offer credit solutions to customers. The company’s technology gives support throughout the lending lifecycle from front end lead capture and application to customer servicing and delinquency management.
The platform helps financial institutions with attracting and retaining customers, balancing risk and maximising efficiency and value.
UK-based Equiniti is a technology outsourcer, providing share registration and associated investor services. The company also offers administration services for employee pension administration and software, share plans, and employee benefit schemes.
Equiniti Group chief executive Guy Wakeley said, “We are delighted to announce the acquisition of Nostrum which consolidates Equiniti’s capabilities in the loan sector. The integration of Nostrum will provide greater depth, scale and capability in a dynamic growth market, whilst also providing the platform for a range of new products and services.â€
As part of the transaction, Nostrum chief executive Richard Carter will join the newly formed company as managing director.
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