Financial default or late payment by clients is cited as the leading cause of loan default by business Borrowers in the UK.
Coface is the second largest globally operating domestic and export credit insurer and debt collection agency, providing solutions to companies to protect them against the risk of financial default of their clients.
Coface and ArchOver formed an exclusive partnership in 2016 for P2P business lending credit insurance cover. Borrowers using the ArchOver Secured & Insured service must have credit insurance on risk to cover their Accounts Receivable for protected default or absolute loss. ArchOver, on behalf of its Lenders, is the loss payee for any payments made by Coface where client default takes place.
The detailed information on companies and markets held by Coface and their ability to write insurance cover helps ArchOver in onboarding quality Borrowers and supports our monthly risk monitoring of all loans over their term.
Escalate is a fixed-cost commercial dispute resolution service for SMEs, payable only on a successful outcome and with no upfront costs. ArchOver’s partnership with Escalate strengthens our ability to provide secure loans to the SME market, helping Borrowers to bring in disputed payments and enhancing security for Lenders as a result.
Escalate works by focusing on a negotiated settlement, using licensed corporate recovery specialists with a track record of rapidly recovering assets to negotiate on behalf of the claimant, and encouraging the defendant to settle quickly in the client’s favour without the need for litigation. The process allows a maximum of three months for this negotiation.
MangoPay is an online payment technology designed for marketplaces, P2P lending platforms, crowdfunding platforms and sharing economy businesses. MangoPay provides ArchOver’s payment system, using e-wallets, where funds can be held securely for as long as needed. The end-to-end payment solution is unique in the market due to MangoPay’s E-Money Issuer license, which enables businesses to accept payments, hold the funds in escrow and pay out with ease, speed and efficiency.
UK Finance helps to facilitate the UK’s continued role as a global leader in financial services, working at the highest levels of industry, regulators and governments. UK Finance harnesses the expertise and skills of six existing trade associations, drawing them together to provide members with a coordinated single entity for their trade association services.
ArchOver’s membership within UK Finance allows it to enhance its status within the P2P sector, as well as representing the interests of P2P lending organisations more broadly.
Gislen Software Is a Swedish/Indian IT company founded in 1994, with its main software development operations based in Chennai, India.
Gislen boasts an impressive client list in large scale software projects including a number of leading Swedish and Norwegian public companies. Gislen is recognised as a leading development company with server side and mobile competence for Microsoft, Apple and Android platforms and has an enviable reputation in delivering high quality solutions using agile methodology and with an ISO 9000 TickIT quality system.
Gislen Software AB of Sweden are investors in ArchOver and have been working with the company since ArchOver’s inception, developing our secure platform alongside our in-house team and supporting our continuous development.
Goji operates an online platform that aggregates Peer-to-Peer investment opportunities. They work with ArchOver to provide a service that manages the administrative process for our Innovative Finance ISA (IFISA).
Their role is encompasses the operation of the major technological administration involved with the IFISA. They also monitor for any ISA over-subscriptions (instances where people who have invested beyond their annual ISA allowance).
Goji’s managerial expertise of online platforms, as well as their provision of a compliant,end-to-end solution allows ArchOver to maximise the opportunity of the IFISA in bringing new investors to the Peer-to-Peer lending market.
SIPPclub provides information and support to people with self-invested pensions. ArchOver partners with SIPPclub to allow its Lenders to invest via its self-invest personal pension (SIPP) or small self-administered scheme (SSAS).
A SIPP is a personal pension scheme which allows individuals to invest their pension in a range of approved investment vehicles. A SSAS is a small occupational pension scheme whereby the directors of a business can use their pensions to invest in their own company, while benefitting from increased control over their investments. These schemes are approved by HM Revenue & Customs (HMRC) and are regulated by the Financial Conduct Authority (FCA). Both options give you the freedom to make your own investment decisions when it comes to your pension.
Lenders can choose to invest over ArchOver’s platform using their SIPP or SASS. If you are interested in doing so, SIPPclub can provide you with support throughout the process, from finding a SIPP operator that suits your needs, to setting up a new SIPP and using it to lend over ArchOver’s platform.
Our Lender Team would be more than happy to answer any questions you might have or introduce you to SIPPclub. Please contact us at firstname.lastname@example.org for more information about lending using your SIPP or SSAS. Capital at risk.