22 December 2009 at 03:14 a.m. ET
Dec. 22, 2009, Three:14 a.m. Dec. 22, 2009, Three:14 a.m. insideARM.com
MARIETTA, Ga. and LONDON — LendProtect UK Ltd., a subsidiary of FactorTrust, Inc. a leading global specialised credit reporting agency and provider of consumer risk management, identity verification, and banking verification services for alternative financial services providers serving the under-banked consumer market, today announced that MEM has contracted to use LendProtect UK Ltd’s specialised credit reporting solution. LendProtect UK Ltd. headquarters are located at Longcroft House, Two/8 Victoria Avenue, London EC2 4NS.
“We are very pleased and excited to be working with LendProtect UK Ltd. We view them as the leader in the marketplace, and always want to surround ourselves with the best underwriting resources available”, said Iain McKenzie, CEO of MEM Consumer Finance Ltd.
The LendProtect UK solution encompasses proprietary loan spectacle data, public record data, and bank account and debit card verification data. This unique solution is delivered via LendProtect UK’s real-time decisioning platform, leveraging the LendProtect score, which is a proprietary under-banked credit risk score for the UK market. “Our team works hard every day to supply a world-class solution. When the largest and most respected lender in the industry chooses you, it provides validation that you’re on the right path and also renews our determination to proceed to innovate and supply the best solutions possible for all of our customers,” said Greg Rable, FactorTrust CEO.
About FactorTrust & LendProtect UK Ltd.:
FactorTrust is a leading Credit Reporting Agency (CRA) and provider of consumer risk management and identity verification services for Alternative Financial Services providers serving the under-banked consumer market. FactorTrust’s LendProtect solution effectively predicts risk by combining consumer credit data with public record, and alternative data sources to provide a comprehensive view of each consumer’s credit history and identity. FactorTrust’s industry leading position and rapid growth are attributable to quality of service, concentrate on serving our customers and the belief that FactorTrust’s ultimate success is directly tied to the success of our clients.
For more information, visit www.factortrust.com or www.lendprotect.co.uk.
About MEM Consumer Finance Ltd.
MEM Consumer Finance Ltd. (MEM) has been established since August 2003 and is one of the UK’s market leaders in online payday loans, serving these customers using its 150 strong call centre located in Bicester, Oxfordshire, UK.
As demonstrated by MEM’s latest customer survey, the payday loan suggesting achieves an extraordinarily high degree of customer satisfaction. Customers love the convenience of being able to apply quickly and lightly, the transparency of the charging structure and the levels of customer service provided by its agents.
A Payday Loan helps people to get through a cash crunch without paying late fees or bouncing cheques – the charges for which can be considerably more expensive for the customer than Payday Loan fees.
The loan process is plain. Customers apply online or by telephone and MEM’s bespoke underwriting system assesses each customer individually, assigning them an approval limit based upon their financial commitments. The funds are deposited into their account on the day the loan has been applied for and, on their payday, the amount is debited using the customer’s bank account debit card.
The MEM Payday Loan process permits customers, who lead busy lives to apply without the need to leave their desks, visit their bank, make appointments, or wait for their cash after making a loan application.