Mash Group Oyj
Euroloan Virtual Credit Card service launched in Sweden
“The new, refreshed service with a revolving credit line is based on feedback from our customers. Available in Sweden from March 2014, it offers a quick and easy alternative to credit cards and account-related credit facilities. For our customers the service offers several competitive advantages compared to other consumer credit”, says Frank Hemgren, Country Manager of Euroloan Consumer Finance in Sweden
Stockholm, Sweden, 2014-03-26 11:55 CET (GLOBE NEWSWIRE) --
Active on the Swedish market since 2011, with the first consumer credit offered in early 2012, Euroloan has introduced the new service with great success in Finland and Poland during 2013. Monthly lending volumes have increased by 50% in February 2014 from the previous all-time high in December 2013, and the strong growth continues. We are confident that we will see a similar growth and achieve the same success with the new service in Sweden.
“The target group for our services includes both quick loan customers and bank customers. With our transparent pricing conditions our customers always know what the total cost of a loan will be – there are no surprises. Even better, there is no setup fee or yearly fees for the credit line - no charge if no money is withdrawn. It is a flexible, modern service based on our leading financial technology (FinTech), developed in-house and using the best available technology and platforms. Euroloan’s credit process is fully automated and makes it possible to apply for a credit and get the loan approved within minutes from applying online. There is no hassle with filling in papers or waiting for approval and the service is very quick and easy to use. “
“Customers can choose their own repayment plan, ranging from 3 to 12 months, and can access the credit 24/7 by logging into their own personal Euroloan account. Euroloan uses advanced analytics and profiling tools to get a better understanding of local customers. Good analytics and efficient use of data benefits Euroloan’s customers through lower costs and higher credit limits. The advanced cloud-based service is scalable to millions of customers and offers unparalleled efficiency and adaptability to different markets. We have the capability to open new fully adapted, automated and tested services in any given market every three months. This is a rare capability for financial services anywhere”, Mr. Hemgren concludes.
Euroloan Consumer Finance PLC operates in Finland, Sweden and Poland and is planning to expand rapidly over the next several years. During six years of operations, the company has lent over 80 million Euros and made more than half a million credit decisions.
Euroloan Consumer Finance PLC is part of a rapidly growing international FinTech group, Euroloan Group PLC, headquartered in Helsinki, Finland. Euroloan has developed the most efficient business models and systems in the market, and is one of the leading service providers in key European markets. The company provides customers with real-time credit, enabled by a fully automated cloud service. Euroloan has consolidated its market position and increased its market share continuously from the time the company was established in 2007. Information about the company can be found at www.euroloan.com and the new revolving credit service in Sweden at www.euroloan.se.
For more information, please contact:
Mr. Frank Hemgren
Euroloan Consumer Finance
tel. +46 70 748 1891