118 118 Money has received full authorisation from the Financial Conduct Authority (FCA). Since launching in Cardiff, Wales in 2013, the lender has issued more than £150million in unsecured personal loans ranging from £1,000-£5,000, to customers who are unable to receive credit from their banks.
Mark Burgess, COO and Interim CEO of 118 118 Money said, “After an extensive application process, I am delighted that we have achieved this significant milestone for our business. It shows our commitment to uphold the highest regulatory standards for our customers and I am very proud and honoured to have been part of such an incredible team over the past 12 months.” 118 118 Money prides itself on offering a more personalized approach to lending. “As a responsible lender, we look at our customers as people and not just a credit score, and we let our customers know that they’re not alone during difficult financial times. With round-the-clock service, we are always there for our customers.”