Soar announces partnership

26 Jun 2020

Soar, the Glasgow based fintech, has announced an all Scottish partnership with Modulr to deliver real-time payments to support responsible lenders.

Soar aims to tackle the societal problem of high-cost lending, working with responsible financial institutions such as credit unions and Community Development Financial Institutions, providing them with a suite of mobile and digital banking technology.

The payment side of Soar's banking technology is crucial, as many lending institutions struggle with costly, time-consuming, outdated payment processes. When payments are not processed in real-time, this prevents employees having a realistic view of their ledgers. To help lenders overcome these challenges, Soar sought a reliable payments technology partner, to help them build out the payments side of their solution and launch new services quickly. Modulr, the Payments as a Service API platform for digital businesses, was a perfect fit.

Looking to the future, Soar plans to expand its offering for lenders even further - using Modulr's technology to offer current accounts and eventually a full agency banking experience.


Soar announces partnership

Andrew Duncan, CEO, Soar, said: "We're hoping to soon be serving millions of UK consumers. We have an exciting roadmap planned and we're looking forward to achieving some great milestones this year and beyond."