Former Royal Bank of Scotland banker Richard Bartlett has become chief financial officer at Uberima, a fintech consumer lender he contemplate to shift to an asset-backed funding form. Uberima will offer short-term consumer loans, and styles itself as a for-profit social enterprise taking on so-called 'payday lenders' that have gained a reputation for exploiting low-income borrowers with sky-high interest rates. Financial services can be ridiculously expensive for those least able to afford them. Uberima says "its edge will come from the technology it will use for credit decisions, allowing the firm to provide cheaper loans while still making acquisition".
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