Paylink qualifies for prestigious credit accolade following ReFi™ product launch

Paylink, a prominent player in the financial technology sector, has been included in Credit & Collections Technology’s Power List of the top 20 companies of 2023.

This recognition comes on the heels of the company’s groundbreaking ReFi product launch and recent triumph at the Lending Awards.

The Credit & Collections Technology Power List, compiled annually by Credit Connect, serves as a comprehensive guide to the most influential and innovative companies in credit and collections technology. Paylink secured its position based on an outstanding performance at the Lending Awards, with recognition for their new product, ReFi™.

ReFi™, the highlight of Paylink’s recent achievements is the introduction of a unique, safe, and secure automated True Debt Consolidation solution that addresses affordability challenges in the lending market by seamlessly automating the settlement of legacy debt with a customer’s new loan.

Piloted in collaboration with leading financial wellness platform, Salary Finance, ReFi™ has already proven its impact by saving Salary Finance customers over £10 million in interest payments since its inception in February this year.

Jake Ranson, CEO of Paylink Solutions, said: “2023 saw an overhaul in the way the Financial Conduct Authority (FCA) holds participants, in UK financial services, to account. The industry has pivoted to put the customer front and centre. Products like ReFi™ have been created to address challenges in the lending industry and to truly meet the needs of the customer through hyper-personalisation of the user journey – a positive change for both the consumer and the industry that upholds the FCA’s new Consumer Duty.

“Recognitions like the awards for ‘innovation’ and ‘industry gamechanger’ that we were thrilled to win at the recent Lending Awards, alongside featuring in the Credit & Collections Technology Power List, allow us to share the impact that products, like ReFi™, are having on the lending market and, more importantly, on the UK consumer. We are incredibly proud to be a part of the positively changing landscape.”

This recognition within the credit industry solidifies Paylink’s position as a leader in the financial technology sector, showcasing the company’s commitment to innovation and excellence in the credit and collections technology landscape.