Simply Asset Finance Unveils Kara, Its New Agent For Building British Business

• Powered by AI, Kara can draw on all data insights accumulated since Simply’s foundation to improve user experience, streamline processes and expedite lending decisions
• The new “virtual employee” will work alongside teams as the business continues to help shape a new lending eco-system
• Simply recently achieved a major company milestone, surpassing £1.75 billion loan origination to date and Kara will support the business on the next stage of its development.

Simply Asset Finance, the fast scaling specialist business lending provider, has unveiled Kara, a new virtual agent that will optimise the user experience, streamline processes and expedite lending decisions.

Kara is an intelligent business bolt on to Simply’s systems and its people. Powered by AI, she draws on data accumulated since Simply’s foundation to generate smart, timely insights on a range of internal and external queries.  Using machine learning technology, she can also work with teams to adapt and improve the insight she provides, helping Simply and its partners shape and deliver a better lending eco-system.

Spanning multiple departments, Kara will focus on helping the business connect external data with internal knowledge by enhancing Simply’s powerful toolkit. She will play a key role in monitoring and optimising customer interactions to better understand their needs and sentiment. Meanwhile Kara can receive and process credit applications from brokers, support customer communications, and surface the right information to enhance internal knowledge-sharing across teams. She will also play a key role in helping increase efficiency, accelerate collaboration, and super-charge product innovation and rollout.

Simply is a next-generation SME lender that was founded by a team of industry specialists in 2017 in response to the need for innovation and disruption in the sector. With the belief that SME customers deserve better service and that the industry needs a complete overhaul to make it fit for purpose, it delivers on its brand promise of “Technology with a handshake”; combining market-leading technology with on-the-ground lending expertise.

Following a successful FY24, the business recently achieved a major company milestone, surpassing £1.75 billion loan origination to date.

Ylva Oertengren, Chief Operating Officer at Simply Asset Finance, comments: “From day one we have been laser focused on gathering and structuring data and knowledge to build market leading expertise in SME lending. It is exciting to be in the position where we can use this advantage to deploy AI at scale across our operating model.

“Speed and efficiency are paramount to a fast scaling business like Simply, but so is excellence of experience and customer relationships. Kara embodies the expertise, creativity and collaboration that our teams represent. Working in tandem with our people, Kara will help shape and secure the future of our and our customers’ businesses.”

ENDS

Media contact

Teamspirit: simplyassetfinance@teamspirit.co.uk

About Simply Asset Finance

Simply Asset Finance was founded in April 2017 by a team of asset finance specialists, in response to the need for innovation and disruption in the sector. It offers an alternative financial model to banks and looks beyond a balance sheet and credit rating, supported by a digitally enabled customer journey. Simply Asset Finance considers a customer’s potential and works with them to identify and implement the best solution to help them succeed. Their highly experienced sales team is made up of people with extensive knowledge of the industries they lend to. This means they understand the day-to-day challenges that businesses face and the dedicated support teams guide customers through the process, helping them every step of the way.

Simply Asset Finance has lent more than £1.75bn to over 11,000 small and medium businesses across a wide range of sectors including transport, construction, manufacturing, recycling, and agriculture.