PFG is made up of two divisions: Vanquis, our credit card and loans company and Moneybarn, our vehicle finance business. PFG specialises in the non-standard market, which means we help those who might have been turned away by other mainstream lenders.
Today, we are leaders in our chosen markets and we meet customers’ needs through our different divisions, supported by a central corporate office. Vanquis offers a range of credit card products, unsecured personal loans and savings products. Moneybarn offers secured vehicle finance on a range of asset classes, including cars, motorbikes and light commercial vehicles. Until recently, we had a third division, the Consumer Credit Division that offered door stop loans and High Cost Credit loans digitally through Satsuma, which at present is in managed run off.
Vanquis was launched in 2003, achieving FSA (now FCA) authorisation and issuing its first credit card in May the same year. Since then, Vanquis has grown, and is now the leading credit card and loan products for people with adverse credit ratings.
Provident, PFG’s original incarnation, was founded in 1880 and initially offered clothing vouchers to families that could be paid back in instalments. Provident soon moved into the cash loan market and now leads the home credit market.
Satsuma was launched in October 2013 after the need for an online product was recognised. Satsuma is an entirely online business, which makes it a more convenient means of accessing money for customers who aren’t interested in home credit.