Othera, a pioneer in blockchain software for the origination of loans and sale of digital assets, announced today that it has signed to its platform, NEOS, a leading innovator in direct lending. NEOS will be using Othera’s blockchain platform to onboard their SME borrowers and digitise the lending underwriting, settlement and servicing process; with plans to create digital loan assets that can be introduced to the investor community. As a leading SME lender, NEOS were looking to scale their lending business and Othera was identified as one of few blockchain software providers with enterprise grade technology and a revolutionary approach to delivering greater loan liquidity and transparency across the entire loan lifecycle.
Othera have a strong focus on automation and end-to-end digitisation of the loan lifecycle. They have reimagined the creation, structuring and trade of digital loan assets and developed an innovative workflow which reduces costs and the time taken to complete the sale of a loan. John Pellew, CEO of Othera said:
“Unlike other providers, we have engineered our platform to be highly customisable so we can meet the specific needs of our clients and their existing workflows. We don’t expect our clients to change their business processes to meet a hard coded and inflexible platform, that is a legacy way of thinking and has no place in today’s technology environment.”
In an industry that has been overshadowed by opaque lending and investment practices, Othera’s platform provides originators with the opportunity to lift the veil. Their platform allows permissioned stakeholders to view a loan’s history and a digital asset’s full provenance; enabling visibility of over events such as repayment history and underlying security.
Utilising this groundbreaking approach to lending and loan sales will set NEOS apart from its competitors. NEOS was recently appointed advisor to Dutch Growth; a €1bn joint venture and the largest private SME lending program in Europe backed by KKR and Schroders. John Pellew, CEO at Othera said, “As their global lending technology partner, we are committed to helping NEOS to scale their lending business across Netherlands and Germany. NEOS have already proved themselves to be an innovative and dynamic lender, and by increasing liquidity and transparency across their loan lifecycle, we are confident that they will see a marked increase in efficiency and profitability.” NEOS Direct Lending CEO, Quirijn Haak, said that the appeal of Othera’s solution was in the digitisation and automation that could be achieved across the lifecycle of a loan,
“From borrower onboarding through to the creation and sale of digital assets; the entire process will be completed much quicker when compared with traditional loan underwriting processes and we will be in a position to become ever more sophisticated in delivering an attractive investment universe to market.”
Othera is leading the way in the origination and digitisation of loans, and the creation and sale structured digital assets. Application of Othera’s blockchain and smart contract technology reduces costs and risk for both lenders and investors by increasing asset transparency and liquidity, and reducing transactional friction and fees. Othera’s re-imagination of end-to-end loan lifecycle management is delivering innovative solutions to meet the needs of lenders, investors, asset managers and funders.
About NEOS Direct Lending
Since its foundation in 2012, NEOS has proven to be an innovative financing partner to many companies over the last few years. NEOS has empowered over 130 businesses, and we happily saw them standing out and achieving their goals. We believe in winners in every sector, and whether driving innovation, growth, acquisitions or mergers, we have the right solution tailored to your needs. Our team consists of a seasoned group of driven professionals with a wide variety of backgrounds. NEOS is well positioned to become a force in the transforming business loan industry working closely with its vastly expanding European sourcing network.