Leeds headquartered lending software provider, Lenvi has grown its specialist standby servicing team by 50% this year in response to growing demand across a range of asset classes, reinforcing its position as the UK’s largest provider of standby servicing.
Among the new appointments are two senior hires: Catherine Foan, who joins as Head of Standby Operations, and Stacey Chambers, who has been appointed as Standby Invocation and Testing Manager.
Catherine joins Lenvi after almost 30 years at Principality Building Society, where she spent the majority of her career leading operational incident management. Stacey returns to Lenvi after a previous decade-long stint at the company, and brings extensive experience in loan management software, having also spent eight years at HML.
The appointments form part of Lenvi’s continued investment into its standby servicing capability as client demand continues to grow, having been appointed on over 50 new deals in the last 12 months, which equates to more than £7bn of new funding protected by Lenvi.
The growth in demand means Lenvi is now protecting more than £48bn of loan assets across more than 200 funding lines, growing its lead as the largest provider of standby servicing in Europe.
Its recent appointments as back-up service provider include the LSE-listed SME finance platform Funding Circle, auto finance provider Billing Finance, and personal loans provider Abound.
Alongside its expanding client base, this year has seen Lenvi deploy on a number of invocations across insolvency, non-insolvency and complex cases, successfully demonstrating its ability to deliver in real-word invocation scenarios within agreed timescales.
The company also recently launched its forensic Invocation Testing service, enabling clients to rehearse a realistic invocation scenario using the same processes that would be followed in a live event, giving investors greater transparency and reassurance on operational readiness.
Owain Chambers, Director of Capital Markets at Lenvi, comments:
“We’re continuing to invest in the people, expertise and capability needed to support the growing demand for standby servicing. Catherine and Stacey bring significant operational experience that will further strengthen our offering and help shape the next phase of growth.
“As the market continues to evolve, lenders and investors increasingly recognise the importance of appointing a standby servicer with proven operational experience. Unlike providers whose capability is largely theoretical, we’ve supported clients through real invocations across a range of scenarios, giving them confidence that if they’re ever needed, the processes, people and expertise are already in place.”
