Alchemy lending platform today achieves a major milestone in successfully servicing over $100 million loans and financial products on its true white-labeled lending platform.
Since inception, Alchemy has been working with a variety of consumer lender as well as point of sale financing companies to take advantage of the healthy credit market. Alchemy clients are well diversified across a variety of different industries on each side of recessionary events such as COVID19.
We’ve seen a lot of growth in point of sale financing and student lending market. As consumers seeking to upskill themselves and going back to school in light of COVID19, we’ve seen a significant uptick in applicants seeking tuition financing.
We have also seen a significant amount of growth in retail lenders seeking online options. We have been working diligently to building out hybrid retail and online platforms to accelerate our customer’s digital strategy.
We project to double our processing volume again in the next few months.