We have advised Totemic (2014) Holdings Limited (Totemic), the parent company of financial technology provider Paylink Solutions (Paylink), on the integration of its ReFi™ unit to global data and technology company Experian.
ReFi™ is a debt consolidation technology that simplifies the process by working with lenders to settle consumers’ debts directly with existing creditors. It addresses the systemic issue of ‘double counting’ in debt consolidation, where existing debts are considered alongside new consolidation loans, often leading to loan rejections based on affordability.
The process has allowed Experian to bolster its offering and will enable the ReFi™ team to build upon its successes and further develop the technology to better support consumers.
Our team was led by corporate partner Nicola Bennett, supported by corporate senior associate Laurel Knight; corporate trainee solicitor Colin Hughes; IP, commercial & technology partner Andrew Hartshorn; IP, commercial & technology associate Harvey Pare; IP, commercial & technology solicitor Charlotte Cassells; employment partner Paul Ball; employment solicitor Abi Pawlett; tax partner Richard Clitherow; tax solicitor John Gumery; and banking senior associate Sharon Malhi.