Two of the key businesses within the Totemic Group – PayPlan and PayLink Solutions – will be merging with OpenWrks and Tully to create a new tech-enabled debt advice, financial wellbeing and credit solutions group.
The intention of the merger is to bring together highly complementary companies in debt advice, credit risk and collections industries with unique specialisms in open banking, technology and data science to improve and diversify access to debt advice for customers and drive innovation in transformative technology for customers and clients.
Exponent is supporting the merger by providing investment to the newly formed group. Exponent’s involvement will accelerate innovation and growth within the group benefitting existing and future clients and customers alike.
Launched in 1992, with offices and partners across the UK and Europe, Totemic will continue to provide specialised insurance services and lending solutions for our clients and customers. We have over 20 years’ experience of helping some of the most vulnerable in our society resolve their financial issues by providing the most cost-effective schemes, and we are proud to have an established reputation as a trusted name within the financial services industry.
We will continue to use our expertise to provide new services and long-term solutions to our business partners to help them evolve their own brands, ensuring quality, consistency and competitiveness.
The new group shares the same values we do, and like Totemic, will continue the tradition we have for excellent service, deep expertise, and an environment our clients and customers will want to be a part of.