118 118 Money receives FCA authorisation

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.”