Paydown: The New App Aiding Borrowers in Ditching Credit Cards Launches

Launch of Paydown.com: Clay Technologies and Pepper Advantage have introduced Paydown.com, a mobile-first lending platform that allows borrowers to consolidate high-interest debts into a single personal loan, offering amounts between £1,000 and £25,000 with terms of one to five years.

User-Friendly Features: The platform enables UK residents aged 18 and over to check eligibility through a soft credit search, and it uses open banking for quick income verification, allowing for fast loan approvals and management via the Paydown app.

Strategic Partnership: Paydown is part of a strategic joint venture between Clay Technologies and Pepper Advantage, utilizing an AI-driven tech stack that combines Clay’s credit APIs with Pepper's PRISM platform for efficient loan management.

Focus on Debt Management: The initiative aims to help borrowers manage their debt more effectively, with a commitment to transparency and simplicity in repayments, as emphasized by the leaders of both companies.