Fair4All Finance and Singlify to expand technology offer to community finance sector with £400,000 investment

We’re investing £400,000 in Singlify to enable them to work with UK credit unions to bring their loan origination, core banking and Customer Relationship Management (CRM) system to the community finance sector – this is first investment we’ve made as part of our Technology Investment Programme.

This investment will enable Singlify to further develop their available application to help credit unions in England, Scotland and Wales move forward in their digital transformation journeys, and allow them to better serve their members.

In an innovative ‘for the sector, by the sector’ approach, Singlify is working with a number of independent credit unions (including Citysave Credit Union, Great Western Credit Union, Central Liverpool Credit Union, Notts and Lincs Credit Union). This diverse group will provide guidance on the key technology requirements of the sector, process and user interface design recommendations, prioritisation for 3rd party integrations and data migration requirements.

‘Technology innovation is key to the health and growth of the credit union sector. We welcome any initiative that makes the best technology accessible to credit unions and helps us to compete better with high cost and fintech lenders, and most importantly to deliver tangible benefits for those needing improved access to responsible lending.’

James Berry, CEO of Great Western Credit Union

The investment from Fair4All Finance, combined with the expertise of independent credit unions and integration partners, will enable Singlify to further develop their technology to meet the unique needs of personal finance providers such as credit unions, providing them with a modern technology platform that will underpin their growth and better support their members.

Singlify is built on Salesforce.com technology, providing credit unions with both access to the world’s leading CRM solution and an easily customisable and extensible platform that is both secure and future proof.

‘This investment is the first from our Technology Investment Programme, which is designed to encourage innovation and expand existing solutions for the community finance sector. Our research shows there’s a high level of ambition throughout the sector to further develop their use of technology and we’ve been really impressed by what Singlify have already achieved.

With this support and further investments in the market, we believe they help community finance providers address some of the challenges the sector is facing, particularly around dependence on legacy technologies.’

Jonathan Turner, Innovations Lead at Fair4All Finance

‘As a social enterprise we are committed to providing affordable solutions to all inclusive finance providers. We estimate that our current platform of loan origination, core banking and CRM capabilities is already an 80% fit for credit unions.

The investment from Fair4All Finance will allow us to work with a select group of visionary credit unions to develop the additional functionality over the course of 2023 with the first live deployments anticipated later this year or early 2024. We will also be partnering with other game changing technology providers in the sector to enable credit unions to adopt a best of breed ‘open’ approach to their systems architecture’

Maarten Rooney, Founder and CEO of Singlify

We’ll be sharing more about our Technology Investment Programme in the coming weeks.

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