Crystal Specialist Finance has said that IT was behind it reporting another record year.

Throughout 2018 the business issued terms of £2.33bn from 87 high street and specialist lenders and completed with 53, against 59 and 46 respectively in 2017.

Completions saw the biggest increase across key performance indicators, with completion value up 40% and applications reaching drawdown up 18%.

Overall application numbers were up 8% against 2017.

Jo Breeden (pictured), managing director of Crystal Specialist Finance, said: “Through the use of intuitive IT we are able to ensure that the applications that move forward to offer have a far better chance of reaching drawdown than ever before, which naturally creates a far more streamlined and reliable service for clients.

“Last year we also completed our first deals using open banking, something that will definitely come more to the fore in 2019.

“The market will remain challenging over the next 12 months but further IT solutions are being prepared, one of which we believe will change the face of specialist lending. All this coupled with our exceptional staff means we remain ideally placed to meet any issues head-on as we look to continue our upwards trajectory.”