• Wed. Apr 24th, 2024

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Smart Money People announce winners of its Consumer Credit Awards

Consumer Credit AwardsA Newcastle-based start-up focussed on consumer reviews of financial services, has today published the results of its inaugural Consumer Credit Awards. The awards are voted for by consumers, not a panel of experts.

With over 80 companies and 2,500 consumers involved, the Consumer Credit Awards have shown which companies have impressed customers most, and which need to try harder. Leading the way were free credit report provider, ClearScore, with 3 awards including the overall ‘Consumer Credit Champion’ award. Other top performers included BTCPOP and Mr Lender.

Wonga, well known in the North East following its sponsorship of Newcastle United took home the title of “Worst Consumer Credit Provider” with an overall score of only 2.45/5.

Mike Fotis, founder and CEO of Smart Money People said: “Our mission at Smart Money People is to increase trust and transparency in financial services, so our awards are voted for entirely by consumers themselves. In turn, this helps other consumers to find the best right products for them.”

The Consumer Credit Awards represent the largest independent survey of the consumer credit market carried out so far this year. Key findings include that customers have an overall satisfaction rating of 87% with their consumer credit providers, although this falls to 80% when consumers rated the value for money offered by providers. Some 87% of consumers now prefer to engage and buy consumer credit through digital channels.

Smart Money People has produced a customer insight dashboard looking at the consumer credit market. Click here to take view this summary customer insight.

The full list of winners:

Consumer Credit Champion: ClearScore

Customer Service Champion: Mr Lender

Treating Customers Fairly Champion: ClearScore

Best Newcomer: BTCPOP

Best Credit Report Provider: ClearScore

Best Credit Broker: Cash Lady

Best Short Term Loan Provider: Mr Lender

Best P2P Lender: BTCPOP

Best Credit Card Provider: Tesco Bank

Best Personal Loan Provider: Sainsbury’s Bank

Worst Consumer Credit Provider: Wonga

By admin