In the UK alone, 12 million consumers lack access to basic financial services. We are a Fintech company that empowers those overlooked by traditional lenders. We provide our customers with the tools to build a brighter financial future.
Our commitment is to bring every single customer:
Our digital approach to micro-lending opens up access to valuable alternative data sources that enable more accurate, inclusive and personalised credit scoring and lending, than reliance on traditional credit bureau data allows.
Customers can manage the entire lifecycle of their Oakam loan - application, repayments and loan top-ups - from our mobile app, website or call centres, providing an accessible, convenient alternative to the traditional doorstep model.
Our model was built to empower underserved consumers to take control of their credit health. We do so through our gamified rewards journey, Oakam Grow, which uses behavioural nudges to encourage positive financial choices.
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The global need for microlending is still distinct - underserved communities need better access to safe, transparent and fair financial products. In 2017, the global microlending market amounts to £1.8tn and is serviced by around 200,000 loan-servicing and doorstep agents. At Oakam, we disrupt this market through the extensive use of AI, machine learning and gamification.
Instead of penalising our users for bad credit history, we choose to reward positive credit behaviour and offer fair interest rates with no hidden charges. Our digital approach further empowers customers by making it easier, safer and more rewarding to access credit and build good repayment habits.
Digital innovation has the power to bring new levels of personalisation to financial services. We believe that digital delivery models provide the opportunity to bring an unparalleled level of personalisation to financial services. Through our mobile app and other digital channels, Oakam is able to gather and use rich sources of alternative data to make credit underwriting more accurate, tailored and suited to the borrower’s circumstances.
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Our unique approach has been awarded:
Oakam serves customers from a variety of different backgrounds and nationalities. We strive to accommodate this diversity through our personalised products and offers, and access to digital and call centre agents who can speak to customers in their native language. This is how Oakam has earned a 9.7 TrustPilot rating, and why 45% of our first-time customers come through referrals from existing customers. But don’t take it from us, hear some of our customers’ stories here:
CEO & Founder
Chief Product and Marketing Officer
Head of IT Shared Services
Head of Human Resources
Head of Risk
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