Exclusive: Blockchain platform Othera signs Schroders backed direct lender

By George Geddes on Friday 30 November 2018

Savings and Investment

Othera’s blockchain technology digitises the creation and servicing of the assets, reducing both the time and costs of selling loans.

Sydney-based Othera has struck a deal with NEOS, a leading Dutch direct lender, to use its platform to onboard NEOS’ SME borrowers. NEOS hopes this development will help the company stand out in a growingly competitive lending market.

In addition to onboarding, NEOS will use Othera’s blockchain platform to digitise the lending underwriting, settlement and servicing process for its loans. This approach will provide loan liquidity and transparency to improve the users’ experience.

The credit provider believes the blockchain technology will be the best opportunity to expand its lending business. Othera digitises the creation, structuring and trading of the loans which enables the process to become cheaper and faster, it says.

Asset management firm Schroders acquired a 25 per cent stake in NEOS back in 2016 which has also since received backing from major investor KKR.

John Pellew, CEO at Othera, said: “As their global lending technology partner, we are committed to helping NEOS to scale their lending business across Netherlands and Germany. By increasing liquidity and transparency across their loan lifecycle, we are confident that they will see a marked increase in efficiency and profitability.”

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