Ecospend, a leading UK provider of Open Banking APIs, has today announced the appointment of Sarah Lambert as Head of Solutions. Sarah will be working with the team to help Ecospend identify and deliver data-based solutions, powered by open banking technology, that meet the needs of more vulnerable customers.
As a Sales and Affordability product specialist, Sarah will utilise her 20 years’ experience in the financial services industry to identify opportunities where open banking technology can help consumers better manage their finances, either through payments initiation services (PIS) or account information services (AIS).
Through open banking, businesses can better assess consumers’ affordability, meaning they can be placed on payment plans that are more affordable. Not only does this alleviate strain on a business, it also removes many of the pain points faced by consumers when it comes to completing these applications. By applying open banking technologies, Ecospend is helping reduce the chances of consumers entering into financial hardship and help promote social inclusion.
Sarah will play a key role in helping deliver these products to businesses. She joins Ecospend having spent the last two years working closely with the Commercial Director and Development team at Policy in Practice on product improvements and sector opportunities for the business. Prior to this, Sarah worked at IE Hub, developing and improving an affordability platform for consumers and creditors, based on the industry’s Standard Financial Statement (SFS).
Through the appointment of Sarah, Ecospend will not only be able to offer customers the ability to ‘pay-by-bank’ but also an affordability assessment service, providing a complete solution for both businesses and consumers.
James Hickman, CCO, Ecospend, comments: “Sarah is well-respected within the financial services sector, with a wealth of experience in working with UK retail banks, affordability assessment, and international bank and debt purchasing businesses. At Ecospend, we are committed to using open banking technology to deliver real value for businesses and their customers whilst also promoting social inclusion, and Sarah will play a key role in driving this vision forward.”
Sarah Lambert, Head of Solutions, says: “As the benefits of open banking become more and more clear, now is the perfect time for Ecospend to broaden its activity in this area. I look forward to working closely with the team to identify where we can add value and uncover potential new services that will help to ensure social inclusion for all, and to create solutions specific to all Ecospend’s current and potential clients. Understanding data is crucial when assessing affordability and I am eager to help Ecospend in its journey towards delivering products that improve people’s financial situation.”