Business model

Why PFG works

The group is successful in lending to customers whom others find it difficult to serve because of the way we manage the customer relationship and the solid foundations that we have built for our business.

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How we create value

1

We develop tailored products to meet customers’ needs

We focus on the credit market in the UK and ROI, developing simple, transparent products with flexibility to help customers not well served by mainstream lenders manage life.

2

We attract customers who we can serve

We use many ways to reach consumers including increasingly digital methods, as well as face-to-face and partners such as agents and brokers.

3

We carefully assess customer affordability and creditworthiness

We use internal and external data, including face-to-face interactions, taking into account both the current situation and the likely future.

4

We lend responsibly

We tend to lend smaller amounts over shorter periods and take a ‘low and grow’ approach as customers demonstrate suitability and sustainability.

5.1

We collect payments due

We offer many ways to pay in cash and remotely, maintaining frequent customer contact. We stay close to customers through call centres, digital communications and face to-face meetings in the home.

5.2

We manage arrears and customer difficulties

We establish early contact and an ongoing dialogue with customers who have difficulties, with a sympathetic approach, to understand their circumstances and offer forbearance.