Manx Financial Group Plc (LON:MFX) subsidiary, Conister Bank Limited, has entered into an exclusive strategic partnership with Fiinu Plc to introduce an innovative overdraft product in the United Kingdom, subject to regulatory approval. This collaboration aims to enhance the Bank’s short-term lending products, including Buy Now Pay Later and insurance premium finance offers.
The Bank has signed a Master Services Agreement with AIM traded Fiinu for a minimum three-year exclusivity period to integrate Fiinu’s overdraft technology into its product suite.
This partnership reflects the Bank’s commitment to delivering customer-driven products and leveraging UK banking permissions to serve the underserved.
Douglas Grant, Conister’s Managing Director and the Group’s Chief Executive Officer said:
“This investment and partnership underline our commitment to delivering customer driven products in this challenging economic environment where we can leverage our United Kingdom banking permissions where others cannot. Our focus continues to be on offering market leading customer focused short term products and Fiinu’s plugin overdraft will address a known market need. As such, Fiinu’s technology complements our strategic vision and will enable us to serve customers who are being overlooked by mainstream banking, thereby reinforcing our premier position as the specialist deposit taker and lender in the Isle of Man and UK.”
Marko Sjoblom, Fiinu’s Chief Executive Officer said:
“We are delighted to secure this partnership with Conister Bank. It validates our technology and accelerates our mission to provide flexible credit solutions to consumers and businesses.”
