The foundation of our Business Concept at Western Circle Ltd is built around our customers’ positive experience. One of our main objectives is for our clients to fully understand our products and to be certain that it is the most suitable for them. Equally important forus is that our customers feel fully confident that they are working with not only with the most attentive team, but also a highly professional one. We have incorporated one of the most innovative and leading technology based system into the short term lending market to ensure that we provide our customers with the right product. At the same time Western Circle Ltd has adhered to the FCA (Financial Conduct Authority) price caps accordingly to their current regulations.
Our Business Commitments
1. At Western Circle Ltd we remain forever diligent in our conduct;
we love to think of ourselves as a short-term loans boutique. Our teams are expertly trained and we continue to invest finances in developing systems to control and supervise our operation on an ongoing basis. Our innovative custom built technology already supervises that our customers loans never breaches the agreed and allowed values of the following parameters: maximum cost cap, daily interest rate, days in arrears, CPA usage, default fees, notifications, rollover caps and ongoing risk management. We fully trust our workforce and we also have strict regulations in place to prevent any mistakes that would ultimately cost them money.
2. We understand that in times of financial distress people shop around to get cash as fast as possible, without really understanding the underlying product. As a responsible lender we strive to approve loans only if we strongly believe it is the most appropriate solution for our clientele. In essence, we are truly sorry if our decline rate is higher than the industry average. We prefer to approve fewer loans and to help more clients. We are very sincere in our intention to assist our clients, even at the expense of approving fewer loans.
3. Our customer service team is well trained to handle any potential issues or concerns related to the financial products we offer. We run weekly reviews with our staff regards any problematic loans they face to maintain the high level of customer service provided at Western Circle Ltd. We always strive to resolve any queries that our clients face with the best possible solution. Our intentions are not to leave a mark on our client’s credit record or put them in a worse financial situation due to our loans. We fully understand that for some clients, the way out of temporary financial difficulty can be longer than the duration of our loan.
4. Our Fair Advertisement Policy: Western Circle Ltd is committed to producing compliant and straight forward advertising. We strive to make it simple for our clients to understand the products we promote; at the same time we try to avoid misleading terms and to display the facts as truthful as possible. We have high confidence that our products are competitive; however it is not always possible to reach a definitive view of what certain provisions of law and/or regulation means. In those circumstances, we approve the campaign based on internal risk matrix and our clients input. We would appreciate your insight if you feel our products are not clearly explained in any of our advertisements.
5. Our investors are actively involved in the business and our yearly goals are extremely well defined. We have secured enough capital to issue the amount of loans we need for our own fiscal requirement. We would like our clients to understand that our business objectives go well beyond just the amount of loans we fund. Our teams are instructed to focus on what is client appropriate and our financial models are based on having minimum arrears and default fees. Western Circle Ltd’s corporate culture fully integrates our business model. Therefore we will not provide a given number of loans to clients that failed our affordability checks. We make our profit when our clients repay their loan on time, not when they get into financial difficulties.
6. Our headquarters are based and operate from London. For our clients their privacy and personal information are kept with the highest security standards. We do not hide behind off-shore companies to run our collections because it is against our fundamental values to put our clients under even more pressure. We hold our clientele in high regard and if they believe we have treated them unfairly in anyway, they are welcome to speak to our senior management between Monday to Friday and the business hours of 9:00am – 17:30pm.