Management Financial Group (MFG) is an international financial institution with a global forward looking ambition.
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Easy Asset Management, commonly referred to by its brand name Easy Credit, acquired its biggest competitor Provident Financial Bulgaria, part of IPF, one of the leading British non-banking financial institutions. Provident’s business model of short-term lending at the customer’s home is very similar to the one of Easy Credit. The deal was approved by the Competition Protection Commission.
Following the acquisition, Easy Credit grew its team of over 3500 with additional 800 employees and credit consultants. Тhe CEO of Easy Credit pointed out the deal brings good opportunities for enhancement of the sales structure not only in terms of geographical coverage, but also combining the best practices and business know-how of both companies.
Drawing on its experience in business transformations, the company set up a dedicated integration team. Their task is to ensure smooth transition of business processes and workforce to further develop the business model of home collected lending and ultimately to guarantee the best customer service and experience. This brings us closer to our goal to turn Easy Credit into one of the fastest developing technologically-enabled providers of financial services in Bulgaria, the CEO said.
According to a leading Bulgarian media*, following the deal Easy Credit will match the biggest market players in the consumer lending industry in Bulgaria in terms of income.
Peer-to-peer investment platforms are an intermediary between lending companies and individuals. Lending companies have the opportunity to provide individuals called investors with already granted loans for external investment. Thus both parties meet their interests – credit companies obtain fresh financing while private investors earn satisfactory return on their available funds. The intermediary platform receives remuneration in the form of a percentage of the investment transaction. The investment model gains thousands of followers worldwide for its easy and adaptive work style, open and clear investment policy.
As we grow and progress together, we follow technology trends and developments. We have our own unit for technological development of software and internal tools. We develop and maintain complex financial systems aiming to respond to diversified business models of the various companies in the holding.
As a group of companies, we aim to streamline the process of providing financial services – from lending to collecting overdue debts. Debt collection is an integral part of the credit process. We approach with responsibility and respect for customers who are in default. The process involves personal contact with the client and provision of an opportunity for repayment while observing good manners and relations.
This market segment is focused on consumer lending through a commercial network of financial centers for issuing loans on spot, by phone, online or through a partner network as well as providing financing for micro and small business entities.
Building a commercial network is based on providing financial solutions for everyone who wants to receive instant funding corresponding to their needs and plans by accessing our products and services in convenient locations, over the phone or online. By offering business loans, we aim to support and develop the potential of small businesses, representing the backbone of every economy. Loan applicants are owners of family companies, entrepreneurs, as well as anyone who represents the micro and small business and needs fast and tailor-made financial solution for its growth.
As a group of companies, we aim at developing and offering financial products and services in line with the global trends of the dynamically developing world. In correspondence to our visions and entrepreneurial spirit, we consider creating financial technologies that benefit people as a part of our DNA code. In this market segment, we operate in the of card and mobile payment types, as well as online lending.
Home Collected Crediting segment lays on the implementation of personal approach by establishing personal relationships with clients, which results in better credit scoring and customer loyalty.
The operating process of this segment includes the identification and training of a large number of socially committed credit officers, called Credit Consultants (CC); reaching out to groups of low income people that are potentially creditworthy; identifying and assessing of customers’ projects and needs in collaboration with CC; finding the proper solution for the customers according to their credit scoring; providing personal assistance and consultancy; and following up on supervision and collection.
In general, Credit Consultants visit current and potential clients for credit consultancy and disbursement as well as for collection of installments.