Elevate Credit International (Elevate UK), the UK subsidiary of online credit solutions provider Elevate Credit, has received full authorisation from the Financial Conduct Authority (FCA).
Elevate UK offers ‘Sunny’ online credit products to consumers across the UK. The company has been offering these products under interim permission since FCA started its regulation of the UK consumer credit sector in April 2014.
All consumer credit lenders in the UK require full authorisation from the regulator to ensure that their culture, systems, controls and operations meet FCA standards.
Elevate CEO Ken Rees said: "We are very pleased that Sunny is one of the first short term credit providers to receive full authorization from the FCA to conduct its operations. We believe this recognizes our ongoing commitment to be transparent and fair to our customers, by offering them a short-term loan that gives them the financial flexibility they need.
"We look forward to continuing our focus on innovation, which provides our UK customers with access to simple, flexible and responsible credit products to help put them on a path toward a brighter financial future."