Fintech platform Western Circle Ltd, which is behind the well-known Cashfloat brand, has achieved a series of milestones that demonstrate how the firm, with over a decade of expertise developing proprietary tech specifically for the short-term lending sector, has cemented its position as a market leader.
Focused on safe lending at scale, Western Circle provides loans to applicants through its group of brands, utilising advanced AI models to ensure the process is fast, data-driven, and fully compliant.
Quantifying the success of fintech firm Western Circle
While the UK lending sector is both heavily regulated and fiercely competitive, Western Circle’s achievements reflect the need for speed and clarity. This enables applicants who require short-term loans to access emergency funds quickly, with the assurance that their lender is fully regulated and trustworthy.
According to the most recently available figures, Western Circle has to date:
- Helped half a million UK customers manage financial emergencies
- Delivered confirmed decisions within an average of 2.49 minutes
- Lent a staggering £70 million in small loans
Reflecting on the driving factors that have generated these results, Ofer Valencio Akerman, WCL Success Mastermind & Mentor from the fintech specialist says, “It’s incredible to have been selected as a lender of choice by 500,000 people and counting. We believe this is partly due to the relief of being able to get a quick decision, but also because we’re a tech business that concentrates on the real people both who get in touch with us and provide our customer care.
Applying for emergency lending can be stressful, and we consistently speak with customers who are handling serious, unexpected crises. We’re here to take away the pressure with transparent support and actionable advice.
Anyone who would like our assistance can also get in touch in whichever way they prefer, including email, phone call, WhatsApp, SMS and our online live chat function.”
How a combination of leading-edge AI and personal support has contributed to Western Circle’s achievements
Across the Western Circle brands, the philosophy is to cut back on red tape and lengthy application processes that many associate with conventional lenders.
Western Circle’s proprietary tech is engineered to create a better, faster way to connect borrowers with the loans they need, backed by an empathetic team with ample experience in helping clients navigate challenging circumstances.
Its platform doesn’t delegate decision-making solely to AI; it incorporates risk analytics, consumer protections, regulatory compliance, and financial affordability to ensure approvals or rejections are never delayed and are based on precise information.
This has created an environment with improved access to safe lending, including payday loans, personal loans and small business loans, with the capacity to extend borrowing to those who may have been automatically rejected elsewhere, including:
- Loan applicants without a guarantor
- Individuals in need of urgent financial assistance with a less-than-perfect credit score
- Company directors and business owners who need a decision on the same day
Ofer notes that, “Clarity is at the heart of our business, and we provide a range of lending options, with details about durations, minimum and maximum APRs and total repayment values given upfront and before anybody applies to ensure they pick a product that is suitable for them.
We’ve built in the flexibility we know matters, with options to repay payday loans early at any point with no additional charges or penalties, and no upfront fees to ensure those dealing with financial crises are supported rather than exposed to greater pressure.”
The brands using Western Circle’s proprietary tech
Alongside Cashfloat, the Western Circle group also includes Payday Bad Credit, for those with a low credit rating, Payday Loans Online and Pera Loans, created for Filipino communities to assist Overseas Filipino Workers (OFWs).
Each has enjoyed success in its own right, sharing resources and guidance to help applicants avoid fraudulent and unregulated lending. These include signposting to debt support organisations and charities, guides to explain how payday loans work, and explainers to improve financial literacy around topics like APRs and loan repayment calculators.
Western Circle also advises borrowers to visit the Choose Wisely platform, which it publishes links to from its online pages, to ensure borrowers can review comparisons of total repayments, representative APRs, customer review ratings, and loan durations to help them make informed choices.
About Western Circle Ltd
Western Circle Ltd is a UK-based, FCA-authorised consumer credit provider specialising in fast, responsible, online lending.
Western Circle is fully authorised and regulated by The Financial Conduct Authority.
