The global need for microlending is still distinct – underserved communities need better access to safe, transparent and fair financial products. In 2017, the global microlending market amounts to £1.8tn and is serviced by around 200,000 loan-servicing and doorstep agents. Microlending is the provision of small short-term unsecured credit. These loans are typically used by borrowers who need to cover unexpected or emergency expenditures and cannot access traditional loans or credit because they have poor, thin or no credit history. When used responsibly, micro loans offer millions of financially-excluded consumers an entrypoint or re-entry into the traditional financial system, by helping them to build credit and graduate into longer-term credit products.

Oakam , an inclusive innovator, provides underserved communities who otherwise struggle with access to the funds they need to manage immediate financial obligations and improve long-term financial health leveraging a digital-first approach and alternative data in its underwriting process.

Providing access to straightforward credit and digital budgeting tools, Oakam empowers those overlooked by traditional lenders to build their financial futures. Since inception, Oakam has disbursed over 420,000 loans totalling £320 million to help consumers get back on the credit ladder or access their first loan.