Newest Technology Makes Payday Loan Applications More Efficient Than Ever

Historical archive, first published 2006 — payday-lending laws and rates have changed since. Preserved for the record.

After two years of rigorous software development, the implementation of a new payday loan approval system means customers are finding it quicker and easier than ever before to apply for these cash advances. The new system provides much of the assistance normally required from loan advisors and allows the My Payday Loan (UK) team to approve loans quickly and reliably time after time.

“One of the important things as a business is to give consistency of service and product to all our customers. Before the implementation of our new system, approving payday loans was a largely manual basis and could vary from person to person,” said Kirsty Auchincloss, COO of MEM Consumer Finance, Ltd., My Payday Loan’s parent company. “Although all our advisors are comprehensively trained, different people sometimes see things in different ways. With our new system, customers will get a homogenous service across the board and we can manage our business more easily.”

The company emphasizes that having such an efficient system does not mean it will lose its strong consumer relationships. If anything, it means that their customer services team can spend more time helping customers and less time focusing on red tape, according to a press release. The new payday loan approval structure allows short term cash advances to be turned around quicker and that My Payday Loan can concentrate on the needs of its valued customers.

With this development, applying for a payday loan could not be easier, if you decide that it’s right for your needs. American companies are always striving to improve their faxless payday loan applications and approval technology as well, so don’t feel as if you will be left behind here in the States.