The FCA Insist On Informed Lending Decisions – How Ethicall Can Help

The Telegraph are reporting that despite renewed vigilance of the payday loans industry, there remain significant issues with the way those organisations go about lending and collecting money:

“Four in 10 people who are rejected for a payday loan turned to another short-term lender, according to a new survey that highlights the high level of demand for quick money but the huge difference in affordability checks.

Payday loan companies have come under increased scrutiny from the Financial Conduct Authority (FCA) in recent months, with tighter rules on fees and a new registration process for all lenders coming into force next year.

However, a poll conducted in August and released on Wednesday found that 42pc of people turned down for a short-term loan managed to get into debt with another lender. A quarter of people turned down for a payday loan turned to family and friends for cash, while 27pc ended up defaulting on another loan or bill, the survey found.

The poll was carried out online by YouGov on behalf of the Consumer Finance Association (CFA), the trade body for eight short-term lenders including Cash Converters, the Money Shop and QuickQuid. YouGov contacted 40,000 people who had been recently rejected for a loan, and 720 people completed the survey.

Four percent of these people admitted to taking money from an unlicensed lender after they were rejected, and 2pc went into debt with a credit union. More than three-quarters did not know whether their lender was licenced, and 33pc said they had considered borrowing from an unlicensed lender after they were rejected by the major payday loans firms”.

Here at Ethicall we exist to support lending institutions not only to reconnect with non-paying customers, but also to help them make the right lending decisions. The FCA is clear that a lending decision cannot be made without a proper examination (including obtaining proof) of a customer’s ability to pay. The cost of sending one of Ethicall’s highly experienced field team to meet with a customer is surprisingly low, but what price can you put on developing that face to face relationship right at the outset? Whether it’s a payday loan, or a personal loan or a homeowner loan – give Geoff Poundes a call on 07515 286863 or email him at  and we’ll discuss how we can make Ethicall work for you.

Ethicall’s Diverse Range of Services …

Ethicall was created as the antidote to many years of sub-standard performance in the sector, on a mission to set the highest performance benchmarks, and to become the market leading business judged so by its clients, providing a top quality, and value for money, service.

Ethicall has therefore chosen to offer to a unique service mix which assists clients meet both their internal and external challenges whether in the mortgage or credit collections space.

Key components of our service are:

  • An employed field network of experienced field agent representatives’ to carry out its client engagements, working closely with a secondary group of self-employed Agents where the client dictates.
  • Ethicall’s senior field management (Regional Partners), are recruited from a talent pool of leading credit industry branch managers steeped not only in a lending and collection mandate culture but, having the knowledge and appropriate behaviours to deal with client customers on the doorstep, and in their homes. This contrasts with traditionally self employed agents who are drawn typically from retired banking industry personnel and former police officers, adding to their pension incomes with occasional field work.
  • A management control system where all Regional Partners and line report, Area Managers receive quarterly reviews, dual calling and 1:1’s where feedback on performance is delivered
  • Ethicall believes that accurate customer information, delivered as quickly and securely as possible, helps lenders best meet their statutory obligations to treat customers fairly. The Ethicall Workflow System has been created to facilitate a paperless service being sufficiently flexible to meet many different client needs surrounding the type of data required to be captured.
  • Ethicall also issues corporate IT hardware complete with the latest end point security configurations to ensure that data is not compromised though the use of private personal computers and hand held devices.
  • Ethicall has come to market with a range of services which address traditional arrears collection market requirements but with a number of innovative solutions which address some of the more difficult challenges facing clients but which have been virtually ignored by traditional suppliers, such as Sensitive Case work ,and Loan Maturity interviews.
  • Ethicall provides a range of pricing which reflects the breadth and complexity of work it encounters ever mindful of the need to offer value for money but, keen ensure it receives fair value for access to an experienced, employed field team where required.

To learn more, simply give Geoff Poundes a call on 07515 286863, or email him at