At Provident, We Drive, We Engage, We Connect – Together We Make Life Better
Provident Financial Group is a FTSE100 company and the leading provider of credit to the UK non-standard credit market, comprising 12 million people – often on modest incomes. We have a successful credit card business, Vanquis Bank, offering credit cards to those who may find themselves excluded by the mainstream credit card providers. We are the brand leader in home-collected credit – small, short-term, unsecured, weekly-collected personal loans. We have an online instalment credit business called Satsuma loans which lends small amounts online. And we have a vehicle finance business called Moneybarn, making finance available to those who might struggle to obtain such finance in the mainstream market. In total, the Group has receivables of £2 billion, employs 3,750 people, and has 2.4 million customers. Customer satisfaction percentage ratings are in the high eighties.
The Group’s primary responsibility is to lend to those who are not well served by mainstream credit products or who would otherwise be excluded from credit altogether. Key aspects of this relationship include issues such as carefully checking affordability, lending appropriate amounts, close, on-going contact with our customers, and understanding and forbearance if customers experience difficulties.
But there is a bigger picture that extends far more widely than our primary responsibility of supplying credit to customers. This bigger picture encompasses all the other areas where our business touches the wider society in which we operate and, indeed, the wider world. This includes how we treat our staff and suppliers, how we engage with local communities, how we minimise our impact on the environment, and how we deal with stakeholders such as investors, regulators and tax authorities.
It is the Corporate Responsibility (CR) function that coordinates the Group’s engagement with this wider agenda and reports on it to the Group’s stakeholders.
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