Putting customers in control With pre-approval, and three guarantees.
In brief:
- In the past two years, 31% of personal loan applications were refused, and 6.8 million adults (13%) avoided applying for a financial product or service because they thought they would not be eligible.
- TotallyMoney research also found that, a £3,000 subprime loan could cost customers an additional £2,499 in interest over three years when compared to a market-leading product.
- In addition to improving transparency and driving better customer outcomes, TotallySure benefits banks by matching them with more suitable borrowers, reducing costs, and improving trust and brand loyalty.
What does this mean?
Alastair Douglas, CEO of TotallyMoney comments: “Launching TotallySure for loans is a huge milestone in helping customers create financial momentum. That’s because somebody with a poor credit score, or even somebody who perceives themselves to be ineligible for the market-leading product, could pay almost £2,500 more in interest on a £3,000 loan over three years.
