Fintern, an open banking consumer lender, launches

Fintern, a UK-based consumer lender, has launched to provide loans of up to EUR 5,825 using open banking functionality to customers excluded by banks.

Fintern, which received its FCA authorisation as a regulated consumer credit lender in February 2021, uses high-frequency transaction data.

The company says 20,000 people have pre-registered to apply for its loans and that it aims to serve half a million consumers in the UK by 2025