Callcredit Endorse Cashfloat Lending Technology

- by Sarah Connelly
Cashfloat and Callcredit collaborate to provide responsible payday loans.

Cashfloat and Callcredit collaborate to provide responsible payday loans in the UK.

January 10, 2016 09:00 GMT (London)

LONDON–(Callcredit)—Callcredit Information Group today announces it has extended its partnership contract to provide credit risk, affordability and fraud prevention solutions to specialist lender Cashfloat.  As part of the extended partnership Cashfloat will be trialling a number of additional fraud solutions focused on digital channels such as email, phone and device identification.

Callcredit has worked with Cashfloat, a short term loan provider, since it launched in 2014 and has helped the business provide responsible lending to over 14,000 consumers in the last two years.  Cashfloat is able to provide its customers loans suitable to them via a fully automated online application process, which also provides the lender with the confidence it is making better informed lending decisions whilst meeting regulation.

With the use of real-time credit risk reporting, fraud and verification data and income and affordability information, Cashfloat is able to asses if a consumer is who they say they are,  able to afford a loan and any associated risk to providing a loan. With the use of Callcredit’s income and affordability data, Cashfloat has gone one step further to helping ensure they only provide a loan to those that can afford credit and created their own bespoke affordability matrix.

Peter Kimpton, Chief Operating Officer, Cashfloat said:

“We’re looking forward to extending our relationship with Callcredit. When we first started working with the company it was due to the data it held and the market share it has in the lending sector.  The results speak for themselves. Through working with companies like Callcredit and our internal processes, in 2016 like-for-like, month-by-month we have doubled business and reduced arrears. Thanks to the solutions we have in place we have the confidence in our lending decisions and are better placed to identify customers that can afford to borrow and those we shouldn’t lend to.”

Steve Wishart, head of lending, Callcredit Information Group said:

“With the growing need in the lending sector to meet regulation whilst putting the customer first, we’re delighted to be continuing to provide Cashfloat with the solutions needed to enable them to do this.”

With the increasing usage of digital channels becoming the consumer’s channel of choice for interacting with businesses, to further help Cashfloat enhance its fraud detection across the customer lifecycle, the UK payday loans lender is also trialling Callcredit’s MobileRisk and EmailRisk solutions.

About The Author
Sarah Connelly
Sarah is an enthusiastic writer, blogger and an eager agent of change. After completing her degree in Computer Science in one of London’s esteemed universities, Sarah’s early career in programming left her creatively frustrated. Looked for a way to combine her creative and analytical side, Sarah’s search led her to Digital Marketing and now she writes content and code for Cashfloat. Sarah enjoys spreading awareness about common financial issues and the importance of money management. With her STEM background, Sarah believes strongly in ethical business management and consumer protection. in her free time, Sarah enjoys reading, watching movies and eating out. After all, #YOLO!
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Cashfloat is rated 4.81 stars by based on 574 merchant reviews

4.81 / 5 Rating
574 Reviews
The money was very helpfull but what you pay back is redicolus but when you desperate you get no choice
Very simple process.All upfront with what you need to pay back and affordability to you, Quick response,would recommend.
Mr Brian M
Quick decision and payout.
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Cashfloat is a trading style of Western Circle Limited - Company Registration Number: 7581337. We are fully authorised and regulated by The Financial Conduct Authority. FCA full permission license: 714479. ICO Registration Number: Z3305234

* Cashfloat terms and conditions apply. Applicants must be 18 or over. All loans are subject to affordability, applicant verification and traditional credit checks via various national databases by Cashfloat responsible lending policy. Loan limit maximum of £500 for first-time customers (£1100 for existing). In most cases, loan decisions may take up to 30 minutes during office working hours. If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you’re approved by 16:30.

Representative example: Borrow £500 for 4 Months, 4 Monthly Repayments of £215.81. Total repayment £863.24. Interest Rate PA (fixed) 270.10%, Representative APR 997%

Warning: Late repayment can cause you serious money problems. For help, go to

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