Announcing New Top Up Investment to Accelerate  Singlify’s Platform for UK Credit Unions

Fair4All Finance and Singlify are pleased to announce a significant top up investment in Singlify‘s platform, taking another stride towards Fair4All Finance’s goal to build a market of technology providers to serve UK credit unions.

This additional funding, amounting to £350,000 (£250,000 from Fair4All Finance and £100,000 from Singlify), underscores our confidence in Singlify’s vision and the progress they have made in their product offering for the community finance sector.

Strengthening Our Commitment to Inclusive Finance

At Fair4All Finance, we believe that the credit union sector plays a large role in providing access to fair and affordable financial services for people in financially vulnerable circumstances. Singlify’s platform, built on Salesforce, is designed to meet the specific needs of credit unions and community finance providers. 

This latest investment will further enhance Singlify’s offerings and accelerate their entry into the UK credit union sector.

Progress and Achievements

Since our initial investment of £400,000 in Singlify in February 2023, substantial strides have been made:

• Product Development: Significant resources have been dedicated to product development, focusing on core banking functionalities as well as critical integrations to ensure a seamless experience for credit unions
• Customer Base Expansion: Singlify is now actively working with 8 UK credit unions, is about to go live with their Loan Origination module with Leeds Credit Union, and is engaged in several core banking migrations

The Case for Acceleration

This additional investment will enable Singlify to further accelerate their growth and entry into the UK credit union sector, allowing them to go to market quicker and meet the increasing demand. This funding will be directed towards:

• Enhanced Product Features: Incorporating feedback from existing and potential credit union clients to deliver a more robust and comprehensive solution. This will also enable Singlify to increase their ecosystem of third-party integrations, providing further options in loan decisioning, open banking, e-ID, payments, and credit control
• Scalable Implementation: Strengthening implementation processes to ensure smooth and efficient onboarding for new clients

We’re looking forward to Singlify’s Launch Event on July 2nd which will showcase their latest advancements and provide an opportunity to connect with industry peers

‘Our continued investment in Singlify reflects our commitment to driving technological innovation in the community finance sector and to build a market of technology providers that can serve this sector. We believe in Singlify’s vision and their ability to deliver a cutting-edge solution that will significantly benefit UK credit unions and their members.’

Jonathan Turner, Technology Strategy and Innovations Lead at Fair4All Finance

‘This top-up investment from Fair4All Finance is a testament to the progress we’ve made and the potential we have to transform the credit union sector. We are excited to further enhance our platform and accelerate our entry into the UK credit union market, ultimately supporting more inclusive financial services.’

Maarten Rooney, CEO of Singlify

Our goal is to build a market of technology providers that can serve the credit union sector. With this investment, we support Singlify in the development of a new and innovative core banking software product for UK credit unions within the next two years. 

By continuing to innovate and respond to the needs of clients, we are confident that Singlify can drive substantial improvements for people in financially vulnerable circumstances.