Julian Graham Rack, CEO PrinSIX Technologies Ltd describes how the journey began and the reasons why PrinSIX Technologies Ltd was formed.

At PrinSIX, we help lenders to personalise lending journeys.  Our services-led digital platform orchestrates unique customer onboarding journeys, one decision stage at a time.  We optimise digital onboarding, by simplifying journeys, transforming understanding and accelerating improvement to achieve the optimal balance between Acquisition Cost and Lending Risk.

Learning lessons from the alternative lending industry

The PrinSIX three principles of simplifying journeys, transforming understanding and accelerating improvement are derived from direct experience.  From the challenge of meeting the demanding standards required by the regulator, and through the need to mitigate the impact of regulation on applicant conversion and business efficiency.  These three principles have previously been applied by the PrinSIX founders to transform an alternative lending business. 

What our lending experiences taught us about the role and opportunity of technology

We realised, through a series of learning experiences, that the secret to achieving a better mix between lending opportunity and risk was to treat every customer respectfully by utilising data analytics to make pro-active interventions and to determine the questions we were asking in applications in real-time.  Alternative lending was an excellent place to learn because:

  • The 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 alternative lending market in 2014 delivered early insight into their emerging approach to the regulation and supervision of the broader lending market.
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The results (in numbers)

The performance of the approach is clearly evidenced in quantifiable performance metrics

  • Applicant conversion increased by 300%
  • New customer volumes increased by 30%
  • Bad debt reduced by 27%
  • Fraud decreased by an estimated 10%
  • Increased communications engagement
  • Reduced and targeted journey intervention
  • Reduced customer support queries


Our business is very simple: we transform financial onboarding, specifically, the piece between ‘Apply Now’ and ‘You have been approved’, so that lenders and other risk businesses can safely meet regulatory obligations while maximising profitability.  We are:

  • A 360-degree solution – our personalised onboarding journeys deliver value to lenders, borrowers and regulators simultaneously
  • Embracing the state of the art – built on Microsoft Azure and inherits security, stability and performance benefits along with artificial intelligence and web chat technologies
  • Aware of what we’re doing – our expert team previously achieved game-changing results leading a Payday lending business. We understand your lending challenges and the regulatory expectations demanded.

About the Author

Julian Graham-Rack
UK CEO – PrinSIX Technologies

Julian is CEO and founder of PrinSIX Technology, a FinTech delivering a unique new approach for lenders to meet their regulatory and commercial onboarding objectives.

Julian’s passion for innovation within consumer lending came from his five years’ experience as the UK CEO of the US sub-prime lender Curo Group.  Joining in 2014, Julian was set the challenge transformed an old style payday lender into an innovative digital lender in an FCA regulated world.  This experience, gained from testing and refining new digital and analytical regulatory and commercial strategies with FCA oversight was the inspiration for PrinSIX.  It inspired the creation of a proposition to help meet every lender’s challenge of optimising commercial outcomes without compromising customer outcomes.

During this time Julian was also president of the Consumer Finance Association, the trade body that represents the interests of the alternative lending industry.

About PrinSIX

PrinSIX add customers

Add Customers Without Adding Risk

PrinSIX offers a services-led digital platform that uses real-time analytical learning ‘at the speed of digital’ to orchestrate unique customer onboarding journeys, one decision stage at a time.  PrinSIX meets the needs of lenders, regulators and customers fully and simultaneously; equipping lenders to maximize customer experience and lending while minimizing cost and risk; with a major concern being regulatory compliance—an existential threat.  

For more information, please visit www.prinSIX.com.