Gain Credit Launches Synapi to Offer Its Industry Leading Technology Platform to Businesses Looking to Offer Consumer Credit
Gain Credit, a leading online provider of consumer loans in the UK, has announced the incorporation of Synapi, a SaaS (Software as a Service) company offering businesses the technology and know-how they need to offer credit to their own customers. Client companies will include merchants looking to offer financing to their shoppers and lenders looking to serve their customers more efficiently while remaining compliant with regulatory guidelines.
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Having served more than a million customers in the UK since 2008, Gain Credit has built an industry-leading and fully compliant platform to drive its own consumer lending activities, and Synapi now lets other companies access this software and expertise. Synapi covers the full spectrum of lending activities, including customer authentication, fraud protection, credit decisioning, customer onboarding, payment processing and customer service – all fully compliant with applicable regulations. Synapi also offers businesses these capabilities as independent ‘modules’, so clients can choose the pieces they want and create solutions tailored to the needs of their customers. “Synapi was founded in the belief that companies who want to lend shouldn’t have to reinvent the wheel. Gain has spent more than a decade as a leader in UK consumer lending, and we believe other businesses can benefit from our experience. We think businesses should focus more on delighting their customers and less on navigating the complex operational challenges of being a lender”, said Chris deBoer, CEO of Gain Credit and co-founder of Synapi.
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Among Synapi’s initial suite of products is Synapi Shop (pronounced ‘snappyshop’), an end-to-end solution enabling retailers to offer their shoppers tailored financing options during the checkout process. Another offering is Synapi Chat, a chatbot allowing lenders to set up a fully automated and compliant customer service operation in days. “All our products are plug-ins. They integrate seamlessly with the client’s existing operations and systems, and can be quickly customized to its specific needs by someone with no coding experience. And our solutions are compliant from Day 1”, said Vijay Sachidanand, CEO and co-founder of Synapi.
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