To make more CUSTOMERS with less RISK
Meet our leadership team
We Help Lenders Offer Responsible Credit Profitably
The PrinSIX platform and team helps lenders across all sectors of consumer credit get a full understanding of applicants through highly efficient application journeys that turn good applicants into responsible borrowers.
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Our Story: A Platform Designed BY Lenders FOR Lenders
Julian Graham Rack, CEO and Co-Founder of PrinSIX
The PrinSIX three principles of simplifying journeys, transforming understanding and accelerating improvement are derived from direct experience.
The founders of PrinSIX were previously part of the executive team of a sub-prime lender. We share a common enthusiasm for the potential of digital technology to respond to the modern challenges of consumer lending in a way that respects the FCA mandate to ‘Treat Customers Fairly’ (‘Principle 6‘); to deliver GOOD CUSTOMER OUTCOMES and ADD CUSTOMERS, with LESS RISK.
Subprime was an excellent explorative environment because:
- The sub-prime market serves customers with reduced access to mainstream credit. Their risk of being in one of the FCA’s four causes of vulnerable, reduced financial resilience, requires increased assessments.
- The consequence of increased customers’ assessment is increased journey friction, increasing application abandonment. Combined with an inevitable increase in declines through rigorous responsible lending evaluations, sub-prime business models are negatively impacted; displaying reduced marketing and operational efficiencies.
- Early intervention by the FCA in the sub-prime lending market in 2014 delivered early insight into their emerging approach to the regulation and supervision of the broader lending market.
PrinSIX was created by lenders for lenders. The company was formed by Julian Graham-Rack (CEO) and Richard Cornelius (CTO).
The genesis of PrinSIX is Julian and Richard’s experience in transforming a high cost lending business through digital and analytical innovation, creating a business that met regulatory expectations profitably.
This knowledge and experience, a total commitment to lending responsibly, an obsession with optimising conversion and a determination to deliver good outcomes for borrowers and lenders are at the heart of PrinSIX. Their experiences are directly relevant to any form of consumer credit.
The PrinSIX Board provides great breadth and depth of experience to support and oversight the development the PrinSIX business.
Sid Vasili (Chairman) has exceptional experience in developing, scaling and selling FCA regulated and internationally regulated FinTech businesses in FS and payments.
Gary Parlett (Non Executive Director) provides his deep knowledge and experience from founding and leading a specialist technical and digital innovation consultancy
Rob Memmott (Investor) brings a background of financial control, oversight and risk governance from Group CFO roles within listed and regulated business.
All three directors strongly compliment Julian Graham-Rack (CEO), with his UK and international experience in consumer credit and other regulated digital markets
Get in touch to find out about our Health-Check
We’ve created an effective route to understanding how well your current applications process and onboarding journey works. In the space of a week, you’ll know how to LEND MORE with LESS RISK.