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Jargon Busting from 247Moneybox.com

4 December 2015

December 4 2015, London, UK - the online payday lender 247Moneybox.com, announced this morning that it is to launch a financial Jargon Buster service over its social media outlets.

Following on from its autumn theme of money saving tips, the focus for the next 3 months is on understanding the complex terms used in banking and personal finance.

Mark Hannay COO states "With all the financial acronyms flying around we thought our customers may like a hand in deciphering exactly what they mean. Financial terms can be confusing even for those that work in the industry, so we want to try and make the terms less confusing by putting them into plain English".

As part of its drive to put the customer at the heart of the business, the firm wants to be as helpful as possible in all financial areas that a customer or potential customer may wish to know more about. This is not restricted to high cost short term credit or even loans and credit in particular but could be about budgeting, helping to cut household expenditure or tips to live a more frugal (or less materialistic) life. It's this last concept that the firm feels strongly about, as any dramatic changes to say expenditure cannot be enacted overnight, and may take many years to be embedded. As a result, the online lender is keen to stress incremental changes over time are far more likely to stick as a behaviour than a short, sharp shock.

Hannay continues "Often this will take the form of signposting the customer to expert resources that can help them or advise them with their needs. For example, where a customer appears to need advice on their debt we make sure to direct them to free debt advice services."

Having established itself in the UK consumer finance industry 247Moneybox.com has been recognised by numerous bodies for its success in technology and entrepreneurship, including Media Momentum, which brings together Europe's fastest growing digital companies, and Red Herring, a global media company which unites the world's best technology innovators. In addition the company was recently ranked 9th in the highly prestigious Sunday Times Hiscox Tech Track 100 league table and 12th in the Deloitte Fast 50.