Paydown Launches in the UK to Simplify High-Interest Debt Consolidation
Paydown, a new mobile-first lending platform, has launched in the UK. It aims to help residents consolidate high-interest debt into a single, lower-rate loan. The platform is a joint venture between Pepper Advantage and Clay Technologies, with Fraser Gemmell and David Yalland serving as respective CEOs.
Paydown uses open-banking technology for swift income and spending verification, enabling quick affordability checks and approvals. Applicants must be UK residents aged 18 or over and can check eligibility through a soft credit search. The platform offers personal loans ranging from £1,000 to £25,000, with repayment terms of one to five years.
All loans are managed directly by Pepper Advantage, with customers able to handle their loan entirely through the Paydown app. The platform's AI-driven tech stack combines Clay's Brandable Credit APIs and Pepper Advantage's proprietary credit management platform, PRISM. Fraser Gemmell, Group CEO of Pepper Advantage, is driving the rollout of such innovative technological solutions. David Yalland, Founder and CEO of Clay Technologies, hopes to make debt repayment easier with Paydown.
Paydown, launched by Pepper Advantage and Clay Technologies, offers UK residents a streamlined way to manage and reduce high-interest debt. With open-banking technology and AI-driven tech stack, the platform provides quick and convenient loan approval and management.
Read also:
- India's Agriculture Minister Reviews Sector Progress Amid Heavy Rains, Crop Areas Up
- Over 1.7M in Baden-Württemberg at Poverty Risk, Emmendingen's Housing Crisis Urgent
- Life Expectancy Soars, But Youth Suicide and Substance Abuse Pose Concern
- Cyprus, Kuwait Strengthen Strategic Partnership with Upcoming Ministerial Meeting
