Technology Innovator Awards 2018

30 Corporate Vision / Technology Innovator Awards 2018 , Most Innovative Online Short Term Loans Provider - United Kingdom An alternative lender to the non-prime customer segment, MYJAR provides flexible loans, exclusively available online.We caught upwith ChiefMarketingOfficer TomNewbould to gain a fascinating insight into the firmand the range of solutions it offers. Founded in 2008, over the years MYJAR has worked hard to ensure that it offers clients the solutions they need in today’s lending market. Tom explores the firm’s innovative solutions in more detail, and highlights how these benefit its valued clients. “At MYJAR we aim to build a world-class digital financial services company with a reputation for simplicity, transparency, responsibility and awesome customer service. Our vision is to be the most trusted online financial services company. As part of our commitment to achieving these aims, we provide our clients with a safe option. Our clients are those who typically struggle to gain access to credit from more mainstream sources such as banks. Trustworthy and reliable, we pride ourselves on maintaining flexible repayment schedules, with the option to repay early at any time. Customers can borrow from £100 to £3,600 over 3, 6 or 12 months. This means we can help with an emergency bill that was not budgeted for, or a more considerable purchase such as a car or home improvement. “We have grown rapidly since our inception, despite working within a highly-competitive market. We believe that this is because our service is clear, simple, and frictionless. Our charges for a 12-month loan are lower than many of our competitors, at 35 pence per day per £100 borrowed, meaning it helps people with their budgeting.” Having achieved rapid growth over recent years, one of MYJAR’s core focuses is supporting its employees so that they feel valued and able to provide the firm’s clients with the high quality, innovative and responsive solutions that they have come to rely upon. “Central to our internal culture at MYJAR is our values. These define who we are and how we perform as employees and as a company. We are a rapidly- growing fintech company that believes in the personalities, skills, creativity and diversity of our team members to achieve extraordinary results. “While our team is ready to work hard towards big goals, we are also paying attention to employees’ wellbeing. Therefore, we will soon open a 2000 m2 brand new office in Tallinn. We want our employees to feel like they are being cared for, so we listen to our people and try to meet their expectations, because we recognise that our success depends 100% on our employees.” Operating in such a fast-paced and constantly-evolving market, MYJAR works hard to stay at the forefront of emerging market developments. Last summer the firm migrated its services into the Amazon cloud, not only to benefit from the elasticity, scalability, self-service, and natural economies of scale that clients expect from a public cloud-computing platform, but to leverage the platform-as-a- service and serverless compute services they offer. “Eliminating much of the overhead of deploying and managing our applications and services allows us spend time and resources building innovative features and exceptional user experiences.” This development highlights the company’s commitment to constantly evolving and adapting to client needs. MYJAR has many more exciting opportunities ahead, Tom outlines in his concluding comments. “Ultimately, the last decade has seen regulatory and technological changes transform the financial services industry, which has given rise to an explosion of Fintechs that are rocking the foundations of the highly-regulated financial sector. We believe that the main benefit of this is to challenge financial institutions to provide better products and experience for their clients, and making financial services more inclusive. “ The disruptive potential in financial services is huge, and we plan to be at the forefront of harnessing these innovations that are remaking the banking industry. Be it for assisting with identity and verification (ID&V), know-your-customer (KYC), or fraud detection to maximise straight-through processing of our borrowing journeys, or for creating more captivating loyalty and rewards programs, the possibilities are practically limitless. Our roadmaps for tech, marketing and product are looking ambitious, and we are eager to continue to improve the workplace culture and office environment that all of our employees experience, so that our clients continue to receive the impeccable level of support and service that we pride ourselves on offering.” Company: MYJAR Contact: Tom Newbould Website: PO Box 6040, Westcliff-on-Sea, SS1 9TE, UK Phone: 0203 006 2000 Website: TI180030