The lending process can be a daunting one. For consumers as well as the loan providers, the process has the potential to be stressful and confusing. Nostrum Group is working to reduce this friction and make lending cheaper, faster, and safer for everyone.
Based in Harrogate, Nostrum Group provides automated loan management software and processing, with clients including high street retailers and well-known global consumer brands.
The platform manages more than 10,000 new loans every day or one loan application every ten seconds on behalf of clients. It is the UK’s largest digital loan software provider.
In February, Nostrum was recognised as one of London Stock Exchange’s 1,000 Companies to Inspire Britain. To be included, companies needed to show consistent revenue growth over a minimum of three years and significantly outperform their industry peers.
CEO Richard Carter wants to do no less than reinvent the way people borrow money. He joined Nostrum in 2002 and has been at the centre of the business’s development and growth over the past decade.
He is responsible for setting the company strategy and overseeing Nostrum’s operations on a day-to-day basis. His experience stretches more than 25 years in the financial services industry, with positions held in the UK, Europe and the US.