Oakbrook Launches New Flexible Repayment Option in Partnership with Modulr

Oakbrook, in partnership with payments automation platform Modulr, has today announced it is expanding repayment choice for customers and strengthening its technology-enabled servicing platform with the launch of Variable Recurring Payments (VRPs).

The introduction of VRPs gives customers an additional way to manage their loan account repayments alongside Direct Debit and a broad suite of payments capabilities. Customers now have more flexibility and choice, with clear visibility of payment amounts and the ability to manage consent through their banking provider.

By expanding repayment flexibility, Oakbrook is giving customers more control and transparency in how they manage their loan repayments.

The rollout reflects Oakbrook’s continued investment in building a consumer credit platform purpose-built to serve borrowers who may not always be well supported by mainstream lenders. By focusing on clarity, flexibility and operational discipline, the business aims to simplify borrowing and make repayments more manageable.

 Rich Payne, Chief Operating Officer at Oakbrook, commented:

“At Oakbrook, we believe repayment should feel straightforward, transparent and predictable - particularly for customers who value clarity and control in how they manage their finances.

Direct Debit remains an important and trusted repayment method for many customers. By introducing Variable Recurring Payments as an additional option, we’re giving customers more choice in how they repay, recognising that financial management isn’t one-size-fits-all.

For us, serving underserved borrowers means designing systems that are clear, supportive and built for long-term sustainability. Strengthening our payment infrastructure is part of delivering consistent customer outcomes while maintaining the operational discipline that underpins our platform.”

Melek Pirgon, Chief Product Officer at Modulr, added:

“At Modulr, we’re focused on moving money with accuracy, control and reliability at scale. In lending, this means making repayments work better for everyone. Borrowers value choice and transparency, whilst lenders need streamlined, dependable operations. Variable Recurring Payments deliver on both, and we're pleased that Oakbrook has selected Modulr to bring greater flexibility across repayment journeys alongside improved operational efficiency.”

The launch of VRPs forms part of Oakbrook’s broader strategy of investing in proprietary decisioning and servicing technology, using data insights and disciplined execution to deliver responsible lending at scale.

Customers will be able to select their preferred repayment method during their journey, with clear information provided to support informed choice.