Equiniti buys Pancredit Systems

Pancredit supports banks, intermediaries and price comparison sites with loan administration and origination services.

Guy Wakeley, the chief executive of Equiniti, said: “Equiniti’s acquisition of Pancredit reinforces our strategy to extend our range of outsourcing services to meet changing market requirements. We already have a fantastic set of software which underpins our employee benefits, share and pension administration and wealth management solutions and are delighted to add Pancredit’s loan administration and origination software to these platforms. Pancredit fits our criteria for acquisition – they are innovative, have a fantastic customer base aligned to our own and will take us into new market territory.”

Graham Donald, the managing director of Pancredit, which is based in Yeadon, near Leeds, said: “Pancredit has been helping clients in the financial services sector champion responsible lending and enhance the experience of end-users for over 25 years.

“In Equiniti we have found a partner with a strong track record of investing in the businesses they acquire and will help us offer greater scale and growth, while retaining our unique identity. This will support further enhancements to our software platforms for new and existing customers. The company owes a particular debt to its founder, Peter Constance, who as managing director, has ably steered the company through the aftermath of the banking crisis, and positioned Pancredit as a leading lending software providers.”