United Trust Bank Asset Finance sets out tech and product investment growth strategy

Originations grew by 136 per cent in 2021, making it UTB’s fastest growing division by business volume and headcount, the bank said. 

Its loan book also exceeded £200m for the first time. 

The Asset Finance team hired 14 people to its sales, operations and credit departments last year, including the recruitment of four underwriters.  

Astrid Michael was appointed head of sales for Asset Finance whilst Louise McIntosh joined as head of operations. 

Last year, the bank announced it would focus on transacting higher value loans up to £2.5m and its intentions to become a go-to funder for higher value car finance. 

Nathan Mollett (pictured), head of Asset Finance at United Trust Bank, said: “2021 was a very successful year for UTB’s Asset Finance business. We more than doubled our new business lending year-on-year and we’ve grown the team in all departments. We have great people working at all levels of the division, all equally committed to providing exemplary broker service and putting UTB on the map as the best specialist asset finance lender in the market. 

He added: “The technology we’re implementing this year is designed to further simplify processes and accelerate turnaround times without sacrificing that vital USP and we’re developing some exciting new products which will help brokers develop their businesses into new markets.  

“Talking of which, we are dealing with more brokers than we ever have before so as well as investing in technology we are continuing to recruit experienced professionals to ensure we maintain those strong relationships and deliver the very best experience to brokers and their customers. In 2021 we built a great team and set out our stall. Now watch what we do in 2022.”