|« Ablrate obtain full FCA authorisation||Relendex receives full FCA authorisation »|
Saving Stream rebrands as Lendy
Saving Stream has rebranded itself as Lendy. Saving Stream was previously the trading name of the peer-to-peer lending arm of Lendy Ltd.
It is likely the name "Saving" in Saving Stream could have caused some confusion among consumers as there is a clear distinction between lending and saving. Savings however are authorised by Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authoirty (FCA) and the PRA, and benefit from £85,000 protection from the Financial Services Compensation Scheme (FSCS) should the company fail. Lending however is regulated by the Financial Conduct Authoirty (FCA) but does not benefit from the protection of the Financial Services Compensation Scheme and lenders capital is at risk.
Here is the announcement in the email sent to lenders:
Following feedback from users, we are integrating the Saving Stream platform under the Lendy brand. This is in order to simplify the brand and make accessing the crowdfunding platform easier for all our clients.
As part of the rebrand, investors and borrowers will now use the same website:
Features on the refreshed site include a new Help Centre, with an extensive FAQ section and glossary. We've also added all of our recent news into a new Customer News section.
The rebrand has been guided by platform users who were very positive about the Lendy brand. We hope you like it. The Saving Stream website will be redirected to the new Lendy website in due course.