Lateral continue to expand their diverse client portfolio by partnering with Creditstar, a leading international digital consumer finance company.
Lateral’s cloud-based debt collection software and debt management solutions will support Creditstar’s provision of its financial products across the whole of Europe. Ian McManus, Lateral’s Co-Founder and CEO comments on the partnership:
“We’re delighted to have partnered with Creditstar and look forward to providing support and guidance as they implement our collections software. We know that Creditstar have experienced impressive growth since they began their operations in 2006, and we expect that our partnership will accelerate their growth even further. It’s definitely an exciting time for both businesses”.
Lateral’s software works by automating and optimizing collection operations and resources, thereby streamlining the whole debt collection cycle. The software propels debt recovery efforts by the implementation of numerous innovative tools, including 2 way SMS, Live Chat, and VOIP integration. It’s flexible, sophisticated, and easy to use. In today’s world, debtors are digitally-savvy consumers, and they’re more likely to respond when engaged via digital channels they’re familiar with. Lateral’s software is a proven debt recovery platform, which maximise client’s profits, improves their cash flow and drives their growth.
Creditstar’s partnership with Lateral comes at an interesting time in the landscape of personal debt across Europe. The last ten years have seen enormous growth in private credit. And the average household debt in the UK now stands at £59,441. The UK’s unsecured debt has grown at least three times faster than secured debt in each of the last five years, with credit cards and overdrafts seeing some of the biggest rises. This financial environment has increased the need for more analytical and strategic approaches to the debt collection and recovery processes.
About Credit Star
Creditstar is one of the leading non-bank lenders in Europe. They have been operating since 2006, providing private customers with access to financial services. Founded in Estonia, they operate Europe-wide and use cutting edge automation, algorithms and data analysis to make financial products available to their customers. Creditstar has operations in eight countries including Estonia, Lithuania, Poland, the Czech Republic, Finland, Sweden, Spain, and the United Kingdom. In the last decade the company has been successful in raising capital from financial markets from both institutional and private investors.
About Lateral
Founded in 2009, Lateral are an industry-leading UK-based automation software provider. Their debt management and debt collection software is built on automation, flexibility and control. Their cloud-based software can cover the entire collections cycle, from introductory payment to final payment demand. It is the most flexible and robust CRM and debt case management on the market.
Get in touch to schedule a demo and learn how Lateral can work for your business.