On-line credit, where the distance doesn't matter.
COFIDIS grew its business in Europe based on a unique concept, distance lending. This robust business model calls for constant innovation, not only to create new products and services, but also to foster close customer relations and to stay abreast of technological developments.
The concept is based on the Group's capability to create distance relations where the distance doesn't matter, to generate close relationships based on trust and aimed at delivering consistently excellent customer relations management.
This know-how draws on our strong core values, which are firmly embedded in the DNA of the Group and its subsidiaries:
- transparent relations with all stakeholders, delivering performance while safeguarding our spirit of enterprise;
- daring to share, surprise, take the initiative;
- showing consideration for colleagues, customers, shareholders and partners;
- disseminating the convictions, expertise and energy that characterise the Group.
Because the business of providing loans to people we don't know has been built up by the Group over the past 30 years, we have acquired unparalleled experience in risk management.
The key challenge to continue stable and sustained growth for the Group, while paying close attention to budget balance for our customers, lies in building relationships based on trust on the one hand and engineering reliable credit rating tools on the other.
- From the very first contact with the customer, we establish a relationship of trust regardless of the channel of communication. Indeed the transparency of our product range, our policy of active listening and the informed advice provided by our knowledgeable sales advisers are all designed to pinpoint the potential risks facing both parties from the earliest stages in the process.
- Decision-making aids, lending rules and acceptance scores incorporating a wide range of variables and developed according to product type guarantee a minimum level of risk.
This human relationship, combined with the latest statistical tools help us to make the best decisions. The most important skill in our business is our ability to offer the right product at the right time to the right client. We know that it is not in our interest to lend money to somebody who cannot repay it.
Customers receive support and the entire range of customer service expertise throughout the period of the loan. Budget and personal finance reviews are carried out in regular contact with customers and help to identify any potential financial difficulties and to offer appropriate solutions.
Three major development priorities
The COFIDIS Participations Group implements a development strategy to support its growth in a constantly changing market environment in France and internationally. To achieve the Group's aims, this strategy is built around three major priorities:
- control of risk, notably through providing support for our customers to manage their budgets;
- efficiency of IT tools, which is especially important since our business is conducted remotely;
- development of partnerships, which have always been central to the Group's legacy and expertise.