Loanitt was founded in February 2019 on the back of opportunities identified in the Consumer Credit market. Recent Changes in European Regulation - PSD2 allows Third Party Providers such as Loanitt to hold account and credit information and provide services to consumers with an AISP License. Loanitt was founded to create innovative Tech solutions which help digitalise customer processes and remove the need for documentation.
Entrepreneur Of The Year Finalist
Loanitt was a National Finalist in Irelands Young Entrepreneur of the Year 2019,
winning the Kilkenny Entrepreneur of the Year and South East regional competitions along the way in
the Best Idea category.
Finance Platform Launched
Loanitt’s market entry was into the car financing and leasing (“F&L”) market. 95% of the F&L market is currently supplied through an intermediary in a very cumbersome, labour intensive process for all stakeholders – e.g. consumers, intermediaries (car dealers) and the lenders. Loanitt aims to launch Open Banking solutions to the car finance market at the end of 2020 totally removing the need for documentation in the process.
Enterprise Of The Year
Loanitt won the Kilkenny County Enterprise Award for 2020, announced by the Local Enterprise Office Kilkenny on 6th March 2020. at the Strategic Policy Committee for Economic Development, Enterprise Support and Tourism, Planning and Development at Kilkenny County Council as part of a very successful Local Enterprise Week programme of events. They will now represent Local Enterprise Office Kilkenny at the 22nd National Enterprise Awards later in the year. This award was recognition for the rapid growth in the company and innovation its technology is bringing to the market.
Open Banking Exchange
Loanitt has commenced work on its Open Banking Exchange Platform. This technology will work with all banks by being bank and API agnostic. Our objective is to provide a fluid bank account data interchange between customers and banks throughout the banking industry.
Grant Thornton Innovation Hub
Loanitt was one of a select few asked to join the GT Innovation Hub where the programme’s goal is to enable Financial Services Providers (FSPs) to innovate and test solutions in a safe and secure environment at reasonable costs. By working with Grant Thornton, FSPs & FinTechs can reduce the time and risk in bringing innovative products and business models to market.
Irelands Largest Car Finance Intermediary
Loanitt is now recognised as Irelands largest car finance intermediary. Loanitt manages high volumes of customers delivering excellent customer service through technology based solutions.