In the news

30 January 2013 - increases its commitment to Responsible Lending Principles and launches new video

7 February 2013 - 247Moneybox become the first payday lender to launch a self-exclusion service

13 February 2013 - 247Moneybox go green with a paperless office

18 February 2013 - 247Moneybox focus on multi-language collections centre

9 April 2013 - 247Moneybox announced as finalists in the Credit Today Awards 2013

21 November 2014 - ranks 12th in the Deloitte Technology Fast 50

10 December 2014 - introduce mindfulness sessions for employees

14 May 2015 - launch summer internship scheme

1 June 2015 - to trial new social offset programme to encourage service in the community

2 July 2015 - Short-term lender - gaming for credit

3 August 2015 - Looks To Social Media To Assess Loan Applicants

9 September 2015 - pioneering new marketing strategies

2 October 2015 - Marginal gains in consumer credit

3 November 2015 - 247Moneybox launches regular customer interaction forum

4 December 2015 - Jargon Busting from

4 January 2016 - Payday lender Planning to Launch Interactive Budget Planner

2 February 2016 - New year, new career with 247Moneybox

22 February 2016 - Active Securities secures full FCA authorisation

3 April 2016 - Active Securities named as a finalist for the 2016 Red Herring Top 100 Europe Award for the second time

5 May 2016 - 5 Minute interview with 247Moneybox COO

2 June 2016 - Customer engagement at 247Moneybox

10 June 2016 - Retirement Survey and Infographic: Are we underestimating the cost of retirement?

6 July 2016 - launches 2016 summer internship scheme

3 August 2016 - 5 minute interview with 247Moneybox marketing manager

6 September 2016 - 247Moneybox thoughts 001: The cost of going back to school

3 October 2016 - Cost of living infographic: Are we paying more to live in the UK?

Media enquires

If you're a journalist feel free to get in touch with our PR team. They love nothing more than nattering on about what makes us great, answering any questions and researching stats for anything connected to personal finance. Drop them an email or if you're just browsing and would like to know a little bit more about us and what makes us tick, have a look at some FAQs below.

What's your aim?

247Moneybox was founded in London in 2009, as it became increasingly obvious that banks were perhaps not meeting the needs of their customers. As the way we lived our lives changed the credit products that our banks were offering seemed to us to stay rigidly the same. The fallout from the global banking crisis meant that actually getting hold of one of these few forms of finance was becoming increasingly difficult. The language at the time was about conservative lending and reducing risk, however what transpired was more about blanket exclusion - not always based on sound fundamentals. The phrase baby and bathwater springs to mind.

Within that excluded swathe of the population were perfectly acceptable applicants. In 2010 research group Datamonitor estimated this non-standard segment of the UK population was just under 7 million rising to over 8 million by 2014. Going forward, we see this growing to over 12 million in the coming years. Assessed a different way these applicants displayed all the hallmarks of responsible borrowers who with the right credit product to fit their needs would be able to comfortably afford to service their borrowings.

247Moneybox is 100% online. We assess applicants digitally without any preconceptions or prejudice that face to face meetings can sometimes create. We believe in operating with integrity in a fair, open and honest manner. Our intentions are aligned with our customers as making the wrong lending decisions does not benefit anyone.

What has data and technology got to do with lending?

Our founding management team are all self-confessed geeks, passionate about technology and how it can make things work in the simplest most straightforward way. The founders are mainly from a fintech background and have been involved in consumer finance since the early 2000s. Some have even worked in banks (although we keep that quiet).

A 'one size fits all' model adopted by some more traditional credit providers can be frustrating. Applying traditional underwriting techniques to short-term consumer credit is like using a sledgehammer to crack a nut - it's the wrong tool.

The technology driving 247Moneybox's decision engine takes more than just a credit score into account, and is able to provide cash loans to customers under appreciated by traditional underwriting methods without increasing risk. Our technology is the main driving factor behind this commitment. It allows us to efficiently conduct applicant profiling, not only taking a credit score into account, but also other alternative data sources, be it on-site behavioural and digital footprint analytics or looking into an applicant's social media feeds. The decision engine leverages thousands of pieces of data, enabling us to make accurate credit decisions in minutes.

This is important, because it ties into our unwavering commitment to responsible lending. Making the right lending decisions is in everyone's best interest and we want to harness technology to enable us to do this.

There has been a lot of negative press about payday loans, how do you lend responsibly?

247Moneybox is committed to lending responsibly at all times. For more information please see our Responsible Lending Principles.

We acknowledge that, in the past, some practices in the industry haven't been up to the standards they should be. However we welcome the changes the regulator has brought in ensuring that the market works better for everyone. We are totally committed to putting the customer at the heart of our business. Lending money is a sensitive subject and lots of people have different opinions on the ethics of charging interest versus providing a social need. We think that credit, provided and consumed responsibly is a tool for good, however we think that any practice taken to excess is going to be harmful. This applies to governments, corporations and individuals. We are keen for the industry to be recognised as an important component of the multi trillion pound consumer credit industry and that alternative lending is here to stay.