Payday Lender 247Moneybox Expands Overseas

The decision to launch in New Zealand - the first of many upcoming international launches - can be explained by a number of similarities with demand drivers in the UK. "As with the UK, we can see similar consumer apathy to traditional sources of finance, and very limited credit products on offer. This works both ways - the banks appear just as disinterested in providing credit solutions to anyone but a very narrow selection of the population," commented Mark Hannay, 247Moneybox's COO.

Responsible lending is at the very core of 247Moneybox's philosophy. The company strives to make the loan application process as open, fair and transparent as possible. Users are clearly made aware of the risks of borrowing, as well as the suitability of payday loans around their specific credit needs.

The technology driving 247Moneybox's decision engine and the loan management system that sits around it is uniquely sophisticated and tailored for short-term finance. Traditional underwriting techniques focused on attributes such as credit score, income and repayment history are limiting and more suited to long term borrowers, according to Hannay. The data analytics team at 247Moneybox continues to grow, continuously enhancing the proprietary risk architecture and tailoring it to local markets.

New Zealand is the first part of 247Moneybox's international rollout strategy, providing a gateway to the Asia Pacific region. North American and European offerings will follow shortly. The business is uniquely positioned to disrupt the consumer finance industry through speed, innovation, scale, and above all, an unwavering commitment to responsible lending.

Active Securities (activesecurities.com)
Active is an innovative alternative finance business, providing commercial and consumer credit, based in London.

247Moneybox.com (247moneybox.com)
247Moneybox was established in central London in early 2009. Based in central London the firm has been built with responsible lending at its core.

247Moneybox.co.nz (247moneybox.co.nz)
247Moneybox are proud to have launched their award winning service in New Zealand from their Auckland HQ. The firm feel they have a good blend of disruptive technology and superior class leading credit decisioning to give choice, control and flexibility to those looking for credit.