Verity Brain   21st Sep 2017

We’ve hit £500 million in finance lending!

We have reached a significant milestone this month by hitting and surpassing £500 million in cumulative lending volume through the platform and have to date processed 1.7M credit applications. Exponential growth in point of sale finance reflects the increase in our merchant base over the last year and that demand from consumers for fast, accessible credit is still on the rise.

As the UK's first online credit solution, we use technology to transform the way customers apply for credit and our panel of expert lenders cover the full credit spectrum to cater for consumers in every financial demographic. Consumers have responded enthusiastically and our research shows that 65% of purchases would not have been made if finance weren’t available.

The application to tip the scales came from a Samsung customer. Samsung is working with Deko to provide its market leading upgrade programme that gives customers an easy and affordable way to stay up to date with the latest technology. Customers can spread the cost of their new phone or TV over 48 months to make it affordable, with the option to upgrade their device at the end of the first 24 months.

Commenting on the milestone, CEO, Peter Mansfield said: "Surpassing £500 million in lending volume is exciting for all at Deko, we work hard to be at the forefront of cutting edge technology in the market and it's proof that demand for finance is increasing. It’s fantastic to see our technology being adopted by SME's and enterprises alike, to help increase their sales and generate meaningful revenue."