Lending strategy

Credit builder loans can help members improve their credit score. The reality is a 15% accept rate and little improvement on scores in the short term. But the problem isn’t the product. It’s the approach. One name, three markets 3.2 million UK adults have adverse credit history including CCJs or defaults. 1.5 million have what…

Payroll deduction allows employees to repay loans directly from wages before they hit their bank account. It’s a simple mechanism that can drive growth, provided the balance between risk and reward is struck. Importantly the data shows that a loan repaid via payroll isn’t a guarantee of success for either the lender (bad debt) or…

To optimise lending and grow the loan book isn’t a single goal.  Loan growth is the outcome of dozens of underlying drivers working together. How quickly do applications move through the system? What proportion of members complete the process versus walking away? How often do decisions require manual intervention? How does your lending policy and…

Northern Ireland faces significant financial inclusion. 350,000 people live in poverty. The lowest earners survive on just £51.45 each week after essentials. That’s a 20% decline since 2021. Meanwhile, one quarter of people seeking debt advice carry High-Cost Short-Term loan burdens averaging £1,700. The Consumer Council found 38% of people reported that their finances negatively…

Scotland faces a financial inclusion crisis. 43% of Scots cannot cover bills for 3 months without their main income. Approximately 730,000 people in Scotland faced credit rejection, representing nearly 1 in 5 Scottish adults. Scottish Illegal Money Lending Unit research found that up to 300,000 people in Scotland are at risk of turning to illegal…