Back According to Ofcom, 72% of UK smartphone users pay for their devices via a monthly service contract13. As the market for handset finance evolves to enable device ownership over the contract term, it’s interesting to note that foundations for this model were being laid here in Leeds over 30 years ago. In 1988, long before Apple ‘reinvented’ the phone, and Steve Jobs was busy with the release of the NeXT computer, loan administration software company, Pancredit, was established. Fast forward to today and, following an acquisition by national-brand, Equiniti, and a merger with Harrogate-based, Nostrum, Equiniti Credit Services (EQCS) has become the UK’s leading loans management and credit technology company, currently managing more than £20bn in credit assets. This includes contracts with the telecommunications sector, where EQCS has recently secured its fourth major win, and now collectively represents the majority of the consumer and commercial handset finance market. Put another way, most of us now have a connection with the firm. In fact, anyone with a personal loan or consumer credit agreement for a car, store card, new kitchen or household furnishings and appliances is likely to have had their application - and potentially the whole life cycle of the loan process - managed by Equiniti Credit Services. Its loans management technology is integrated into the systems and infrastructure of a wide range of major lenders, and used by many household-name banks (challengers and mainstream alike), independent lenders, brokers and brands in the consumer lending markets. The rise of Equiniti Credit Services has contributed significantly to Leeds’ position as the Northern centre for fintech and, more specifically, lendtech. The ease and simplicity by which consumers are able to access digital borrowing services, together with the capacity for lenders to deliver on-demand loan decision making, is thanks to the tech developed by Equiniti Credit Services. In telecoms, EQCS’ clever technology provides live data and scalability capabilities to enable the continuous management of credit applications, especially important during peak periods, like new handset release dates. The rise of Equiniti Credit Services has contributed significantly to Leeds’ position as the Northern centre for fintech and, more specifically, lendtech. Acting as a visible symbol of Leeds’ fintech and lendtech profile is the opening of the Equiniti Northern Tech Hub in April 2018. The company invested in a 14,000 sq ft premises in Lawnswood to establish a dedicated centre of excellence. In line with this vision, over the past year the business has significantly increased its headcount across software development, finance, compliance and helpdesk support functions. It continues to invest, too. Recruitment continues, particularly in platform development where the Yorkshire skills economy, whilst buoyant, is proving increasingly competitive due to the new presence of major tech players attracted to the region. From its Northern Tech Hub, the company is progressing its strategy to develop products and technology solutions for larger scale projects and to expand into new markets and sectors. This will continue to create economic value and jobs growth for Yorkshire and help to drive digital fintech innovation and expertise across the North. Leeds City region fintech ecosystem report 2019-2020 Share: Share to LinkedIn LinkedIn Share to Twitter Twitter Share to Facebook Facebook Share to WeChat WeChat Share to WhatsApp WhatsApp Share to Email Email Related content Case Study Castlepoint Systems | opportunities outside of its native Australia Nov 2023 - We spoke to Rachael Greaves, co-founder and CEO, about Castlepoint’s information governance and compliance service and the growth opportunities outside of its native Australia. Castlepoint Systems | opportunities outside of its native Australia Case Study Aon | helping clients manage the risks and opportunities from climate change Nov 2023 - Climate change is one of the most perilous emerging risks of our time, impacting countless lives. We spoke to Aon, about the role of insurance in mitigating climate risk. Aon | helping clients manage the risks and opportunities from climate change Case Study Lloyd's | Building resilience to wildfire in the US Nov 2023 - Lloyd's new wildfire syndicate protects California's commercial wildfire-prone properties. Lloyd's | Building resilience to wildfire in the US Case Study Aware Super | establishing a UK presence Nov 2023 - We spoke to Aware Super about why the pension fund selected London as its first overseas base for its international expansion strategy. Aware Super | establishing a UK presence