The Lending Standards Board’s (LSB) has announced iwoca, one of Europe’s largest SME lenders, as its latest firm to achieve full registration to the Standards of Lending Practice for business customers.
The LSB’s business Standards set the best practice benchmark for SME lending in the UK and can be applied across a range of financial services firms, from digital or challenger firms to high-street banks. They are one of just four industry codes recognised by the FCA.
iwoca’s full registration with the LSB follows the completion of its interim registration period, during which the FinTech SME lender worked with the LSB to ensure its compliance with the Standards.
Emma Lovell, Chief Executive at the LSB, said: “We are delighted to welcome iwoca into full registration with the business Standards. The more firms registered with these Standards, the more SMEs who are protected.”