It’s been a busy few years in the alternative lending sector. FCA supervision of the sector in 2014 has been followed by a renewed focus on a few businesses whose practices threatened to harm the most vulnerable of consumers.
In the midst of these changes, we went through some significant changes of our own. As the largest niche debt purchaser of alternative lending accounts, we received our FCA authorisation in August 2016 which coincided with more rigorous processes and a clearer vision of who we wanted to be.
This was followed in October 2017 by significant investment from Copper Street One – an entity of UK specialist investment firm Copper Street Capital LLP – which has strengthened our balance sheet and enabled us to make a greater number of purchases since the acquisition.
A new name for a new day
Despite these significant internal changes our public-facing brand has, up to now, remained largely unchanged. We knew it was time for the reputation we’ve built for industry-leading standards of customer care and regulatory compliance – for doing things the right way – to be reflected in our name.
Our choice of name for the rebrand which occurred on 8th March 2018 – Lantern – truly reflects an image that represents all of the changes undergone by the business.
Why ‘Lantern’? Because we wanted a name that captured our ambition to be more than simply a debt purchaser and collector. We wanted a name that would remind us of the high standards we set ourselves – to go beyond mere compliance for our lenders and to genuinely care for each of our customers.
As we step into the future with a new name and a renewed sense of purpose – we do so believing we are a leading light in a changing industry, one that will surely see more lights appearing in years to come.
Denise Crossley FCICM
Chief Executive, Lantern
To find out more, please contact:
Head of Sales & Client Relations, Lantern
Mobile: 07730 748153