The Intermediary speaks with Nicola Firth, founder & CEO of Knowledge Bank, after her firm’s win at the Later Life Lending Awards.
Congratulations on winning Best Later Life Online Support at the inaugural Later Life Lending Awards, how important is getting this recognition to you?
Thank you, the recognition means a great deal and is significantly important. We believe in our brand and proposition, but it is truly special when your audience appreciates your offering.
It makes the hard work seem even more worthwhile and that you are making a positive impact, it’s rewarding.
What do you think sets your business apart from others in the field?
We have focused on a specific area and doing that well, refining and developing our innovative products objectively for our users benefit.
We have considered other areas of course but we are a business of quality oppose to quantity, and pride ourselves in that.
How important is it to recognise achievement in the sector?
Recognising achievement in the sector is massively important. It encourages growth and quality whilst boosting morale, driving the industry further forward.
Looking ahead how do you see the next 12 months playing out for the later life market?
I believe there will be more reliance on later life lending, we are an aging population and the perspective of borrowing is evolving. I think more consumers will utilise their assets over the next year not only to aid the climate but to assist family onto the property ladder.
We might even possibly see more lenders entering the later life lending market as the proposition gains more traction.
What advice would you give to someone looking to join the market?
Be patient and proactive, there is a lot of change in the market currently which presents challenges. Embrace the obstacles, learn from them and you will be a success.
Sometimes the best experience is being thrown in the deep end and experience is invaluable in this industry.
How do you rate your chances of defending your win next year?
Knowledge Bank has lots in the pipeline, 2023 is set to be an exciting year as we expand our offering even further to help best support our users.
With our strong line up for the year, I like to hope the chances of defending our win will be equally as strong.
