Soar provides a cloud‑based lending and banking platform for UK credit unions, community development finance institutions, and public‑sector lenders. The solution consolidates loan management, payment processing, member self‑service, reporting, and compliance into a single secure system, automating routine workflows to cut manual effort by up to 90 %. Integrated open‑banking, card processing, and identity‑verification services enable real‑time transactions while maintaining regulatory compliance.
Funding
Funding not disclosed
Founders
Product
Problem
Credit unions, community development finance institutions, and public sector lenders rely on fragmented legacy systems, extensive spreadsheets, and manual reconciliation processes that consume the majority of staff time, hinder growth, and create compliance risks.
Solution
Soar offers a unified, cloud‑based lending and banking platform that consolidates loan management, payment processing, member self‑service, reporting, and compliance tools into a single secure environment. The platform automates routine workflows such as payment reconciliation, regulatory reporting, and audit‑trail generation, reducing manual effort by up to 90 %. Integrated open‑banking, card processing, and identity‑verification services enable real‑time transactions and risk assessments without the need for separate vendors. A single sign‑on and shared data source eliminate data silos, allowing staff to focus on member support and portfolio expansion. The solution is pre‑configured for UK financial regulations and can be deployed in 8–12 weeks with ongoing UK‑based support.
Target Audience
Primary customers are UK‑based credit unions, community development finance institutions, and public‑sector lenders that require a modern, compliant digital platform to manage loans, payments, and member services.
Features
- End‑to‑end loan lifecycle management with automated underwriting and repayment scheduling
- Integrated payment processing (GoCardless, Faster Payments, card acquisition) and auto‑sweeping of funds
- Real‑time compliance suite with built‑in audit trails, one‑click regulatory reporting, and ISO 27001‑certified security
- Member portal offering 24/7 self‑service, open‑banking connectivity, and mobile access
- API‑first architecture with 20+ pre‑built integrations (Experian credit checks, ID verification, SMS/email communications)
- Automation engine that routes tasks, reconciles payments, and generates reports, cutting admin time by up to 70 %
- Single login and unified data view providing a “single source of truth” across all operations