FORT WORTH, Texas--(BUSINESS WIRE)--Elevate Credit, Inc. (“Elevate”), a leading tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, announced its UK loan product, Sunny was recently crowned the “Treating Customers Fairly Champion 2017” at the 2017 Consumer Credit Awards in Mayfair, London.
Run by Smart Money People, the Consumer Credit Awards are the largest consumer-voted awards program in the UK consumer credit industry. More than 1,400 Sunny customers showed their appreciation of Sunny’s customer-centric approach by voting.
The founder of Smart Money People, Mike Fotis, said, “I’d like to congratulate Sunny for taking home what is undoubtedly the award all firms wanted. To win ‘Treating Customers Fairly Champion’ is not easy. It requires customers to tell us what they think about the ‘Culture & Values’ and ‘Clarity of Expectations’ of the firms they are dealing with. I hope the team at Sunny is truly proud of this award.”
Commenting on the win, Elevate’s UK Managing Director Scott Greever said, “We are over the moon to have won the accolade of Treating Customers Fairly Champion, made even more significant by the fact that it’s based solely on customers’ votes.”
This win comes on the heels of several recent product milestones and is a result of the company’s dedication to developing best-in-breed products.
- Sunny’s annual revenue has consistently grown by 30 percent year over year, excluding the impact of foreign currency translation adjustments, since 2014, its first full year in the UK market1.
- In July of 2016, Sunny issued its millionth customer loan.2
- As of June 30, 2017, Sunny has issued over £495 million in loans.2
“Sunny’s tremendous growth and continued success can be attributed to our dedication to our customers. Sunny’s customer satisfaction scores are consistently above 90%, with a TrustPilot score of 9/10 and a net promoter score (NPS) of 56 – far above industry averages for most mainstream banks and lenders,” continued Mr. Greever. “Winning this award is a testament to the commitment of all of the Sunny team who work tirelessly to make sure we deliver a service that meets and exceeds our customers’ expectations and treat them with the respect they deserve.”
1Annual Revenue: 2014 £39.4 million; 2015 £52.6 million; 2016 £71.3 million
2Elevate data
About Sunny
Sunny is the UK online loan product from Elevate Credit International (a wholly owned subsidiary of Elevate Credit Inc.). Sunny loans offer a better alternative for the UK’s short-term borrowers, with flexible repayment options. Sunny is committed to lending responsibly through a simple and transparent product that charges interest on a daily basis and doesn’t charge fees. This means that people only pay interest for the time they have an outstanding balance, and can reduce the cost of their loan if they pay back early. Affordability checks using Sunny’s unique data and underwriting approach are also rigorously conducted on every customer. For more information, please visit www.sunny.co.uk.
Elevate Credit International Limited is authorised by the FCA. Sunny is also a member of the CFA (Consumer Finance Association), the principal trade association representing major short-term lenders operating in the UK. As a member, it works to the standards set out in the CFA Code of Practice.
About Elevate
Elevate Credit, Inc. (NYSE: ELVT) has originated $4.5 billion in credit to more than 1.7 million non-prime consumers to date. Its responsible, tech-enabled online credit solutions provide immediate relief to customers today and help them build a brighter financial future. The Company is committed to rewarding borrowers’ good financial behavior with features like interest rates that can go down over time, free financial training and free credit monitoring. Elevate’s suite of groundbreaking credit products includes RISE, Elastic and Sunny. For more information, please visit http://www.elevate.com.
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