Case Studies

The payday loan industry, also known as payday advance or cash advance, represents one of the fastest growing segments of the consumer finance industry in the United Kingdom. MEM Consumer Finance Ltd is a leading industry participant, owning the UK's widest portfolio of payday loan brands.

ParkerFox are responsible for the architecture and implementation of the company's LoanBook system capable of managing all aspects of its business ranging from the creation and instant deployment of new brands to the day to day managing of outstanding loans, expense claims and reporting. The system also provides customers with the convenience of repaying and applying for new loans online.

MEM was recently sold to CompuCredit, a large American corporation. A crucial part of the sale was a reciprocal deal with ParkerFox to continue to provide their technology as they diversify their product offering across the globe.