The challenge: building finance that’s fair and easy for all

Lendable is on a mission to make finance simple and fair. They’ve rebuilt major consumer finance products from the ground up — removing friction, speeding up decisions, and ensuring products just work for their customers.

“At Lendable, what we're trying to do is make finance fair and easy for all," says James White, Head of UK Credit Cards at Lendable

When the company launched its credit card, they quickly realised the importance of offering a fast, intuitive repayment experience. Originally limited to one payment option, some customers were facing friction. They needed a solution that matched their ethos of simplicity and immediacy.

The solution: instant, effortless repayments with Pay by Bank

Looking to improve the payment experience, Lendable turned to TrueLayer’s Pay by Bank.

As James explains: “When we first launched Pay by Bank, I was a bit skeptical about how successful it would be. But I've been blown away — it’s now our preferred payment method.”

Why Pay by Bank? The team had three key priorities:

• Instant payments

• Fewer payment failures

• Frictionless setup

“

We wanted to deliver a service that is instantaneous to our customers. We didn’t want long delays between them paying and us receiving the funds. Pay by Bank ticked all of those boxes.

James White, Head of UK Credit Cards

For Lendable, immediacy wasn’t just a nice-to-have; providing instant experiences is core to their product.

And customers have noticed. One review on Trustpilot said:

“I like the fact that you can pay back the whole balance straight away, and it goes on immediately. Most cards take two days from when you spend and pay back.”

The result: 300% YoY growth in usage — and cost savings

Since introducing Pay by Bank, usage has skyrocketed, explains James: “We've been blown away by the success of Pay by Bank with our customers. We've seen a 300% growth in usage the last year.”

And it's not just customers who are benefitting — Lendable has too.

“Pay by Bank has delivered two main cost savings for us. Firstly, we’re saving on interchange payments. Secondly, because payments are more likely to be successful, we get less customer contact.”

VRP: elevating the game

Lendable was also one of the first to adopt Bank on file, powered by VRP with TrueLayer, offering customers a seamless way to manage repayments.

“We also like the fact that TrueLayer was the first to do a VRP payment in the UK.”

Compared to card payments, VRP offered greater reliability and fewer drop-offs.

“There are definite advantages to VRP over debit cards. Cards can be declined for many reasons, especially with large payments. With VRP, there’s no expiry — the mandate only ends if the customer cancels it.”

The power of confirmation of funds with VRP

Lendable also benefits from VRP’s confirmation of funds feature, which allows lenders to instantly check whether a borrower has enough money in their account before collecting a payment. This helps avoid failed transactions, enables flexible collection strategies, and protects borrowers from unnecessary stress or credit score impact.

“

With instant confirmation of funds, we know right away if a customer can make their repayment. It means we can step in early to prevent arrears, keep collections smooth, and make the whole experience better for our customers.

James White, Head of UK Credit Cards

Smarter onboarding with Data APIs

Lendable also uses TrueLayer’s data APIs to streamline access to credit, automating what used to be manual, paperwork-heavy processes.

“We’ve used TrueLayer’s data services to automate a lot of journeys that used to require bank statements, payslips, ID documents. It’s now all auto-decisioned using open banking.”

The result? Faster onboarding, lower drop-off rates, and more customers getting access to the credit they need.

“

To anyone considering Pay by Bank — just go for it. Once your customers start using it, they’ll love it. It’s very easy to set up and really easy to continue using.

James White, Head of UK Credit Cards

A shared vision for innovation

One of the reasons Lendable chose TrueLayer for their Pay by Bank provider was the aligning of values and focus on customer experience, simplicity, and innovation.

“We really like that TrueLayer works in a similar way to us. They’re brave, innovative, and bring new products to market.”

Talk to us about how Pay by Bank and Variable Recurring Payments are revolutionising payments.