Western Circle Limited, a London-based online lender trading as Cashfloat.co.uk, has proven that it is possible to build a profitable payday loan company while staying true to a strict moral code.
After the FCA’s regulations came out in 2014, many lenders were unable to survive and stopped lending. However, this is precisely when Cashfloat entered the industry. Launching in 2015 with a business model that prioritised sustainable lending and treating customers fairly, Cashfloat have experienced almost exponential growth.
Last week, Cashfloat were awarded a position in the “50 Most Trustworthy Companies of the Year 2018” by The Silicon Review magazine.
“It’s quite unique for a payday loans company to be called ‘trustworthy’. Yet we’ve worked hard to achieve this,” explains Mr Akerman.
He went on to explain the two main areas they have focused on:
- Technology – Cashfloat used advanced technology to develop their own secure systems. This allows them to provide fast, quality service while remaining fully FCA and GDPR compliant.
- Customer Service – They insist on the highest standards from their customer service team, particularly the collections department. Fairness and respect are their two keywords, and the overall goal is to work with the customer to find a solution that will work for them.
Western Circle Limited have already seen fantastic results. With over 50,000 happy customers and a rating of 4.81 stars, being on the list of ‘50 Most Trustworthy Companies of the Year 2018’ is just another landmark. They are constantly innovating and refining their technique, creating new standards in the payday loan industry in the UK.