Putting You First: Customers and Teams

Our aim is to be the leading consumer finance provider in the UK for nonstandard credit through excellence in all that we do. Our values and culture are founded on responsible lending and supporting our agents to deliver industry-leading customer service on the doorstep.

Our Core Values

Customer-centric
Our customers are at the heart of everything we do.
Trustworthy
We are direct and transparent in all that we do and say.
Clear
Our systems and processes will always be simple and straightforward.
Flexible
We will show forbearance and understanding, meeting our customers’ needs with matching products.

Team Support, Development and Engagement

Training and development is central to embedding compliant lending within Morses Club. All managers and agents receive a thorough induction and everyone in the organisation – from the CEO to the newest starter – participates in compliance and conduct related training every month.

Voluntary turnover is low within our teams, consistently measuring less than 1.7%. Average service length is eight years. Both labour turnover and service length have remained consistent compared with 2015/16.

As of 25 February 2017, Morses Club employs 617 people and operates through a field network of 98 administrative branches across the UK. The Company’s support operations (compliance, central operations, customer services, finance, marketing, HR, business services, IT, etc) operate from our support centre in Birstall, Leeds. Our metrics have remained consistent with 2015/16 results.

E-loans for the Online Customer

The core business of Morses Club PLC is Home Collected Credit (HCC). However, our growth strategy incorporates a plan to broaden our products and services.

Morses Club launched Dot Dot Loans – an online instalment loan product – in March 2017. The operational model and target demographic are fundamentally different from the HCC product. Every loan is applied for and approved online, and repayments are collected from the customer’s bank account, on an agreed date each month.

Dot Dot Loans typically targets C1/C2/D profile customers with a moderate but steady income. We anticipate that the two products will see only a small overlap of customers.

The new brand website is mobileresponsive, designed to meet the needs of this different set of consumers who may have access to a wider range of financial options, and who expect fast, easily-accessible products.

Why an e-loan?

HCC customers make up approximately 30% of the 10 million people in the non-standard credit market. Dot Dot Loans helps us to access the remaining eight million UK consumers who want online instalment credit. By adding brands to the Morses Club product portfolio, we are strengthening our brand presence.

Why Dot Dot Loans?

We based the e-loan product branding on the results of consumer research conducted in August 2016.1 Dot Dot Loans speaks to consumers in a clear and friendly manner, giving all the facts without lots of financial jargon. The brand differentiates itself from its competitors and will have the same focus on responsible lending, good customer outcomes and treating customers fairly as Morses Club.

_{* Mustard Research, December 2016}