Company Information

Get to know Oakam

Founded in 2006, Oakam was a financial technology company that aimed to provide accessible credit to individuals with limited or no credit history in the UK. The company utilized mobile technology and alternative data for its lending decisions, offering small, short-term loans through a mobile app and a network of high-street stores. Its mission was to promote financial inclusion for those overlooked by mainstream banks. However, following a surge in customer complaints and affordability claims, the company ceased lending and was placed into administration in February 2021.

Industry

Financial Other ServicePRIMARY
Financial Payment
Technology Software Development

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Oakam

United Kingdom

Founded in

ส.ค. 2006 (19 Years)

Founded

Last online: No recent activity

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Markets.com

(326 reviews)

United States

2008

(18 years)

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This company is currently Unproved.

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License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.