Exclusive: Blockchain Platform Othera Signs Direct Lender Backed By Schroders

Savings and investment

Othera’s blockchain technology digitizes the creation and maintenance of assets, reducing both the time and cost of selling loans.

Sydney-based Othera has entered into an agreement with NEOS, one of the leading Dutch direct lenders, to use its platform to integrate SME borrowers from NEOS. NEOS hopes this development will help the company stand out in an increasingly competitive loan market.

In addition to the integration, NEOS will use Othera’s blockchain platform to digitize the process of underwriting, settling and managing loans for its loans. This approach will ensure loan liquidity and transparency to improve user experience.

The credit provider believes that blockchain technology will be the best opportunity to develop its lending business. Othera is digitizing the creation, structuring and negotiation of loans, making the process cheaper and faster, he says.

Asset management firm Schroders acquired a 25 percent stake in NEOS in 2016, which has also since received backing from lead investor KKR.

John Pellew, CEO of Othera, said: “As a global lending technology partner, we are committed to helping NEOS grow its lending business in the Netherlands and Germany. By increasing liquidity and transparency throughout their loan lifecycle, we are confident that they will see a marked increase in their efficiency and profitability. “

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