Payment and administration outsourcer Equiniti Group has purchased Nostrum Group, a provider of end-to-end loan management technology for banks, finance companies and retail brands, for an undisclosed sum.

UK-based Nostrum offers a range of services spanning front-end lead generation, application processing, and customer servicing.

Equiniti expects the deal to strengthen its position in the lending industry and allow it to offer technology-enabled loan and mortgage solutions.

Equiniti Group CEO Guy Wakeley said: “The integration of Nostrum will provide greater depth, scale and capability in a dynamic growth market, whilst also providing the platform for a range of new products and services. The business is aligned with the Group strategy of providing regulatory-driven, technology-enabled services, and will contribute to organic growth.”

Meanwhile, the capabilities of Equiniti will now be integrated under the Equiniti Credit Services unit. Nostrum CEO Richard Carter will take up the role of managing director in the new unit.