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Mallard Finance, established in 1995, is a UK-based financial services provider that specializes in vehicle financing and refinancing solutions. The company, operating under the trading name Mallard Leasing Limited, is privately owned and family-run, emphasizing a personalized approach to finance solutions tailored to individual customer needs (Mallard Finance).
Mallard Finance primarily offers hire purchase finance services for used cars and vans, catering to both individual consumers and businesses in England and Wales. Their financial products are designed to assist customers in purchasing motor vehicles up to a maximum weight of 3.5 tonnes, as well as helping them refinance balloon payments on vehicles they already own (Mallard Finance) (Financial IT).
One of the unique aspects of Mallard Finance is their approach to credit assessment. Unlike traditional lenders that may rely heavily on computer-generated credit scores, Mallard Finance employs a team of underwriters to assess each application. This allows for a more nuanced and flexible approach to lending, considering individual circumstances and providing a more tailored financial solution (Mallard Finance) (Mallard Finance).
In a bid to enhance its lending process, Mallard Finance has partnered with Nordigen to utilize open banking technology. This partnership allows Mallard to access financial data directly from clients’ bank accounts during the application process. This in-depth financial analysis helps in providing a more comprehensive overview of the customers' financial transactions and income, ensuring a more informed lending decision (Financial IT).
Mallard Finance operates from a central office based in Colchester and is regulated by the Financial Conduct Authority in the UK. The company prides itself on its customer service and its extensive network of over 3,000 motor dealers, which supports a robust and efficient service delivery system (Mallard Finance) (Mallard Finance).
Mallard Finance's commitment to regulatory compliance and customer-centric service has enabled it to establish a strong reputation in the vehicle finance market. This approach, combined with strategic partnerships and the adoption of advanced technologies, positions Mallard Finance as a reliable and innovative financial service provider in the competitive UK market.