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KOHO adopts LoanPro platform to scale digital finance offering

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KOHO adopts LoanPro platform to scale digital finance offering

Canadian FinTech KOHO has partnered with lending technology provider LoanPro to support the development and rollout of new financial products, as the digital banking firm looks to expand its offering to more than 2.5 million customers.

The partnership will see LoanPro provide the lending infrastructure behind KOHO’s upcoming products, giving the company greater flexibility to develop and launch services while retaining control over its customer experience and product design.

Under the arrangement, KOHO will continue to manage its products and mobile app, while LoanPro’s platform will handle back-end functions including billing, servicing and reporting. The division of responsibilities is intended to help KOHO introduce new offerings without having to build and maintain all the supporting infrastructure in-house.

The partnership also addresses the regulatory complexity of operating across Canada. LoanPro’s configurable platform will help KOHO adapt products to applicable requirements, including province-specific rules in Québec, as it expands its services.

Founded in 2015, LoanPro provides lending and credit management technology to financial institutions, lenders and FinTech companies. Its platform supports the loan lifecycle, including origination, payment processing, servicing and collections, helping businesses automate workflows and manage credit products. KOHO, founded in 2014, offers spending and savings accounts, credit-building tools and overdraft protection. The company aims to give consumers greater control over their finances through its digital-first platform.

“At KOHO, we’re building fundamentally different products that help Canadians make real financial progress, and that requires infrastructure that moves as fast as we do. We chose LoanPro for the flexibility to bring new products to market quickly and responsibly,” said Rusen Baragiola, chief product officer at KOHO.


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