Caribbean expansion
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Carilend’s Caribbean Expansion Guided by the Madiston Lending Platform

Having guided the expansion of its services into Jamaica and Barbados, the online lender Carilend has once again leveraged the digital lending software platform of Madiston in its latest transition to the Caribbean island of Trinidad and Tobago.

Madiston’s digital lending software platform now supports the online lender in three Caribbean countries with the recent launch of its Instaloan service in Trinidad and Tobago; a product of its partnership with Massy Finance.

The company adopted Madiston’s technology when it brought its online lending to Barbados back in 2017.

At the time, Barbados imposed no formal regulation for digital lending, which spurred the selection of Madiston’s platform so the lender could operate in line with the standards of the Financial Conduct Authority’s (FCA) regulation in the UK instead.

Two years later, Carilend partnered with the VM Group and expanded again, this time into Jamaica.

Madiston’s lending technology supports various currencies, banking arrangements and processes, which is how Carilend has been able to achieve regional expansion in this way.

Each country offers different lending products too, from institutional lending, peer-to-peer lending, buy now pay later (BNPL) loans to salary deducted loans – all available within Madiston’s hyper-automated technology.

Hyper-automation to achieve profitability

Carilend cites Madiston’s hyper-automation as the primary facilitator of its Caribbean expansion, having allowed the lender to incur minimal operational costs and thus achieve early profitability.

With minimum staff numbers, the company has managed $50million in loans, many of which being peer-to-peer loans which each have hundreds of micro-transactions to process.

Enabling clients to achieve profitability, even in a low-margin environment, was the bedrock of Madiston’s system design. The mission was to automate everything possible, even those processes that others had failed to tackle and Carilend has proved the Madiston technology delivers its mission.

Mark Young, CEO of Carilend
Mark Young, CEO, Carilend

Describing Madiston’s six-year contribution to the company’s expansion, Carilend CEO, Mark Young, explains how “they have provided the digital lending technology on which the whole Carilend Group operates, from customer onboarding through loan servicing.”

Young recognises the platform as a “robust and highly flexible platform which has enabled us to keep our operational costs down, add new products as we grew and expand geographically.”

When discussing the compliance capabilities of the digital lending software platform, Young explains how Madiston “provides the rails on which all processing takes place, ensuring consistency of approach and adherence to quality standards.”

“It enables us to collate data, providing reports in each country’s currency and allows us to bring Group level management information together for overall control,” continues Young.

In retrospect of Carilend’s achievements, Tim Simon, CEO of Madiston, adds “We always set out to be more than a technology provider, we wanted to help Carilend deliver their ambitious plans at each step of the way.

“Their digital lending growth on our technology enabled them to attract key strategic partners like the VM Group and Massy Finance, which is testimony to their achievements to date. We look forward to continuing to support Carilend, wherever their expansion plans go next.”


  • Tyler is a fintech journalist with specific interests in online banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

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