The 2018 winners of the UK’s largest consumer-voted awards for the consumer credit industry have been revealed at a ceremony in London.
Launched in 2016, Birmingham-based not-for-profit Fair for You took home two awards, including ‘Best Alternative Finance Provider’ and the much coveted ‘Firm of the Year’, beating some of the UK’s largest consumer credit businesses along the way. Fair for You is a lower cost alternative to weekly payment stores. The only other firm to take home two awards on the night was Amigo Loans.
Over 20,000 consumers voted in this year’s Consumer Credit Awards, sharing their thoughts on over 120 firms. As part of the voting process, consumers shared a range of feedback including ratings for customer service, whether they feel fairly treated or not, as well as commentary to sum-up their overall experience with the consumer credit firms they do business with.
This year the Consumer Credit Awards were sponsored by Lantern, with CEO Denise Crossley presenting a number of awards on the night. Category sponsors included Bamboo and Choose Wisely.
Mike Fotis, the Founder of Smart Money People, who run the awards said, “Being able to access credit in a quick and fair way is central to the lives of many UK consumers, and these consumers had a lot to say on Smart Money People throughout the voting process. Congratulations to everyone for making it to the Finalist stage this year, and of course to the winners on the night.”
Drafty took home the much-coveted award for ‘Innovation of the Year’ for their personal credit line product which looks set to grow in popularity as an alternative to payday loans over the coming year, while Admiral Financial Services took home ‘Best Newcomer’ for their personal loan proposition.
Full List of Winners
Firm of the Year: Fair for You
Treating Customers Fairly Champion: Amigo
Customer Service Champion: Mr Lender
Innovation of the Year: Drafty
Best Newcomer: Admiral Financial Services
Best Car Finance Provider: MotoNovo
Best Personal Loan Provider: Bamboo
Best Guarantor Loan Provider: Amigo
Best Credit Card Provider: American Express
Best Alternative Finance Provider: Fair for You
Best Pawnbroker: H&T
Best Short Term Loan Provider: Sunny
Best Consumer Credit Broker: Freedom Finance
Best Logbook Loan Provider: Varooma
Innovation of the Year (Vendor): Credit Kudos
Technology Vendor of the Year: Telrock
During the event, Smart Money People also revealed that it has been working on its inaugural Treating Customers Fairly Index which is due to be launched later in 2018. This index will include customer feedback, but also take on board other factors like interest rates, the clarity of terms and conditions and product features.