Can One Seasoned Entrepreneur Change the Payday Loans Market Image?

- by Kelly Richards
Changing the payday loan market image


Can One Seasoned Entrepreneur Change the Payday Loans Market Image? Full-Length Interview Recently Published by Inc.com Provides a Surprising Answer
August 01, 2016 11:30 PM Eastern Daylight Time
LONDON–(BUSINESS WIRE)–Inc.com has released a full-length interview with Ofer Valencio Akerman, a UK payday loan industry changer. The interview reveals a new business model designed to help and protect people when applying for a loan online, beyond the regulative requirements.

Inc.com, a New York based magazine, has published an enlightening interview with Mr Ofer Valencio Akerman, Executive Turnaround & SEO consultant at London-based Western Circle trading as Cashfloat. The conversation follows Mr Akerman’s journey to developing an innovative and intuitive business model that holds the potential to change the payday loan market in the UK.

The recently enforced regulations have made the UK payday loans market safer for consumers, but much more competitive for lenders. To improve client acquisition and satisfaction, and make his business stand out from the rest, Mr Akerman has coupled a unique fusion of technology with a sincere intention to help people. The result was a business model that is changing the world of payday loans.

With the ongoing chaos about payday loans in the US, The Inc.com article discussed in details this new business model and interviewed its founder in a move to see if payday lenders in America can follow the same example.

Mr Akerman explained, “Before our desire to make money is our desire to help and protect people when applying for loans online. After years of cybercrime investigation, I was tired of seeing customers being manipulated by immoral lenders. I was determined to make use of the technology we have available to build a model that will ensure that no one ever has to deal with irresponsible lenders again.” He adds, “It was a privilege to share my business model with Inc.com. I know that this model is unique in the UK market, and is sure to take the payday loan market in the US to the next level, if implemented strategically.”
The full interview can be found here.
Share
About The Author
Kelly Richards
Kelly Richards is the founder of the Cashfloat blog and has been working tirelessly to produce interesting and informative articles for UK consumers since the blog's creation. Kelly's passion is travelling. She loves her job because she can do it from anywhere in the world! Whether inspiration hits her while sitting on the balcony of a French B&B, or whether she is struck with an idea in a roadside cafe in Moscow, she will always make sure that the idea comes to fruition. Kelly's insights come from her knowledge gained while completing her degree in Economics and Finance as well as from the people she meets around the world. Her motto is: Everyone you meet has something valuable to teach you, so meet as many people as you can!
Blog disclaimer

We do all we can to bring you interesting, practical and valuable information. However, please understand the following:

Information and data on this blog are for information purposes only. While we work hard to ensure it is accurate, we cannot accept responsibility for the accuracy, completeness, suitability or validity of any information provided on the blog. We will not be liable for any errors, omissions, losses, injuries or damages arising from its display or use. All information is provided with no warranties and confers no rights.

If you feel that any of the information published on our blog is not accurate, please notify us via email at compliance@cashfloat.co.uk

Cashfloat is rated 4.82 stars by Reviews.co.uk based on 607 merchant reviews

4.82 / 5 Rating
607 Reviews
Very helpful and I love their site. Very straightforward. Highly recommend.
Anonymous
As the new app so easy to use thank you for the friendly team , Who help me during my difficult time i definitely recommend this 😊
Anonymous
Found from start to finish very easy. When I phoned everyone was really helpful.
Anonymous
Bottom content

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. 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. First monthly repayment of £172.09. Second and third monthly repayments of £229.45 Fourth monthly repayment of £114.75. Total repayment £745.74, interest rate p.a. (fixed) 226%. RAPR 695%. Our APR includes all applicable fees. Daily interest is capped at 0.75%.

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

This site uses cookies. Find out more.