LONDON--(BUSINESS WIRE)--Western Circle Ltd, trading as Cashfloat.co.uk, introduces their new technology designed to enable better credit for people in the UK. The technology's code name is Beyond Payday Loans UK (BPLUK), and as of April 2017, it is available with all loans obtained online from www.cashfloat.co.uk.
Cashfloat’s new technology BPLUK is now available for the company's customers as part of the client login area. In essence, this technology turns any loan obtained online into dynamically revolving credit. Short term loan interest is calculated daily on the remaining capital. Regardless of the original loan period, customers of Cashfloat can now repay any amount at any time within the overall loan period. This new technology is hugely beneficial to the consumer, helping them save money and giving them full control over the entire lending process.
The new BPLUK technology allows customers to ask for repayment adjustment with a click of a button, no calls or paperwork needed. The technology helps the lending department to proactively identify and help people struggling to repay their loan, and reduce the risk of their situation deteriorating into a bigger debt spiral.
“We are here for our customers. Our business is to provide online loans that help people. When a client is struggling to repay his loan, we go above and beyond to help. This new technology, BPLUK, allows me and the team to identify people struggling to repay their loan. We made it easy for them to request a payment adjustment without even having to call us. Our professional team will offer them the best options available to prevent a debt domino effect, even at the cost of losing money. " explains Peter Kimpton, Director at Cashfloat.
Cashfloat.co.uk is a trading style of Western Circle Limited; an FCA-fully authorised direct lender. The Cashfloat model is based on fundamentally good morals and very advanced artificial intelligence technology designed to help and protect people taking payday loans online.