Ferratum

Line of Credit
Customer journey survey

07.10.2019
HIGHLIGHTS OF LOC PRODUCT SURVEY OF FERRATUM

11 countries Customer journey description Product description

BUSINESS PROCESS COMPANY DESCRIPTION

The company does not position the product as a substitution of credit card but
Product positioning
presents it as a revolving line of available limit with a 30 days grace.
Card issue NO
YES, for all countries. As customer repays his debt, credit limit becomes available
Revolving mechanics
again so customer don’t need to apply for loan one more time.
Onboarding Only online onboarding which highlighted as one of main product features.

Mobile app onboarding NO

Money transfer Only to a banking account.

Transparency in pricing On some web-sites company directly tells that APR may be high.

ANY (related with withdrawal date), except Sweden and Denmark where only one
Payment day
payment day during the month for all exist.
As usual in Europe the main income driver is interest, but in other regions fees play
Main drivers of income
more important role.
The company has different requirements (income, employment, credit history) for
customers. In some countries company’s requirements are similar to bank’s one, in
Targeting segments
other are lighter. Taking into account APR range, the company deals with NEAR
PRIME segment.
Risk issues The company uses Instantor data scrapper software in some countries.

2
FINLAND

CUSTOMER JOURNEY PARAMETER VALUE

APR, % annual 21,9
Online application for a loan (fully online process)
1 Limit, min 100 EUR
Customer identification via Tupas system (state service for Limit, max 2 000 EUR
2 banking identification). Identification with mobile certificate
(special SIM with PIN-code option) is also possible. Nominal interest rate, p.a. 20
Upfront fee/ Monthly fee 0
3 In case of approval money is immediately transferred to client’s
banking account. ATM withdrawal fee 0

Grace period First 30 days

Time-to-Yes
15 min

Time-to-Money
Immediately, but in some
cases not later than next
banking day

You only pay for the credit you use

3
SWEDEN

CUSTOMER JOURNEY PARAMETER VALUE

APR, % annual 47,6
Online application for a loan (fully online process)
1 Limit, min 105 USD

Identification is completed through the use of BankID or through Limit, max 4 500 USD
2 Internet banking. Otherwise, REJECT. Nominal interest rate, p.a. 39,6
Upfront fee/ Monthly fee 0
3 In case of approval money is immediately transferred to client’s
banking account. ATM withdrawal fee 0

Grace period NO
IMPORTANT! There is only one payment day for all – 28th of each month.

Time-to-Yes
1-48 hours

Time-to-Money
Immediately after approval,
but in some cases during next
day

With Ferratum Credit you can also

choose to make new withdrawals after
you start repaying the loan. You make
as large withdrawals as you need, and
just when you need. You can make a
single or several hundred withdrawals.

4
LATVIA

CUSTOMER JOURNEY
PARAMETER VALUE
Online application for a loan (fully online process)
1 APR, % annual 58,5
Within 24 hours customer needs to deposit 0.01 EUR to his Ferratum account Limit, min 500 EUR
via Bank transfer or ID transfer indicating the purpose of payment «[Personal
2 code]. I confirm the veracity of my data and agree to Ferratum Bank Limit, max 2 000 EUR
(EVP4510001617135) general terms and conditions of the loan agreement» Nominal interest rate, p.a. 47
3 Upfront fee/ Monthly fee 0
Check of data, including Credit History.
ATM withdrawal fee 0
4 In case of approval money is immediately transferred to client’s banking
Grace period NO
account.

IMPORTANT! Ferratum has its bank where all disbursements and repayments are
Time-to-Yes
processed.
15 min, but not earlier call
center operator call back

Time-to-Money
Immediately after approval,
but in some cases during next
day

5
DENMARK

CUSTOMER JOURNEY PARAMETER VALUE

APR, % annual 124
Online application for a loan (fully online process)
1 Limit, min 230 USD

Identification is completed through the use of NemID. Otherwise, Limit, max 3 300 USD
2 REJECT. Nominal interest rate, p.a. 95
Upfront fee/ Monthly fee 0
3 In case of approval money is immediately transferred to client’s
banking account. ATM withdrawal fee 12,5%

Grace period First 30 days

IMPORTANT! There is only one payment day for all – 28th of each month.

Time-to-Yes
15 min

Time-to-Money
Immediately

6
CZECH REPUBLIC

CUSTOMER JOURNEY
PARAMETER VALUE

1 Online application for a loan (fully online process) APR, % annual 97,4

Limit, min 110 USD

2 Call center calls back and fills a full application Limit, max 3 100 USD
Nominal interest rate, p.a. 69
3 After completing application data check up is started Upfront fee/ Monthly fee 0
ATM withdrawal fee 12,5%
4 In case of approval money immediately transfer to Ferratum
Grace period First 30 days
bank account.

IMPORTANT! Ferratum has its bank where all disbursements and repayments are
processed. Time-to-Yes
Up to 24 hours

Time-to-Money
Next business day

You can use your funds repeatedly,

free of charge, up to your credit limit,
which can be increased up to CZK
80,000

7
ESTONIA

CUSTOMER JOURNEY PARAMETER VALUE

APR, % annual 58,1
1 Online application for a loan (fully online process)
Limit, min 100 EUR
Limit, max 3 000 EUR
2 Identification is completed using ID on the web-site or in any post office
Nominal interest rate, p.a. 45,7
After completing identification data check up is started, including
3 banking account scraping (Instantor)
Upfront fee/ Monthly fee 0
ATM withdrawal fee 3% (except 1st
withdrawal which
4 In case of approval money immediately transfer to Ferratum is for free)
bank account.
Grace period 1 EUR payment
for 1st month
IMPORTANT! Ferratum has its bank where all disbursements and repayments are
processed.

Time-to-Yes
Up to 24 hours

Time-to-Money
Immediately

8
SPAIN

PARAMETER VALUE
CUSTOMER JOURNEY
APR, % annual 263

Online application for a loan (fully online process) Limit, min 100 EUR
1
Limit, max 500 EUR
After completing identification data check up is started, including Nominal interest rate, p.a. 103
2 banking account scraping (Instantor)
Upfront fee/ Monthly fee 0

3 In case of approval money is immediately transferred to client’s ATM withdrawal fee 12,5% (1st
banking account. withdrawal for
free)
Grace period First 30 days

Time-to-Yes
15 min

Time-to-Money
Immediately, but in some
cases not later than next
banking day

For a minimum monthly fee, you can

return the money in the time you want,
and if you prefer to return everything at
once, you can also do it without
problem. And even better: you can
withdraw more money from your
Flexible Credit even if you still have
money to pay back.

9
NORWAY

PARAMETER VALUE
CUSTOMER JOURNEY
APR, % annual 258

Online application for a loan (fully online process) Limit, min 110 USD
1
Limit, max 3 300 USD
Identification is completed with BankID/ or mobile app with code Nominal interest rate, p.a. 103
2 chip
Upfront fee/ Monthly fee 0

3 In case of approval money is immediately transferred to client’s ATM withdrawal fee 12,5%
banking account.
Grace period No

Time-to-Yes
15 min

Time-to-Money
Immediately, but in some
cases not later than next
banking day

Expenses and bargains can emerge unexpectedly

and suddenly. Ferratum Fleksikreditt offers a loan
framework tailored to your finances and needs, and
you only pay for the amount you withdraw.
The application process is done in a few minutes and
you will have access to the money as soon as the
application is approved. For many, this is a good
alternative to taking large consumer loans, or
borrowing money from friends and acquittances.

10
BRAZIL

CUSTOMER JOURNEY
PARAMETER VALUE

1 Online application for a loan (fully online process) APR, % annual 341

Limit, min 200 USD

2 Client registration includes consent with Instantor usage. Limit, max 3 000 USD
Nominal interest rate, p.a. 329
3 Client signs contract remotely (not still approved) Upfront fee/ Monthly fee 0
ATM withdrawal fee 0
4 In case of approval money is immediately transferred to client’s
Grace period First 30 days
banking account (only in 5 banks).

Time-to-Yes
15 min

Time-to-Money
Immediately, but in some
cases not later than next
banking day

A big difference with Ferratum is that

we always make your credit limit
available in your account, as well as in
traditional credit cards.

11
NEW ZEALAND

CUSTOMER JOURNEY
PARAMETER VALUE

1 Online application for a loan (fully online process) APR, % annual 576 – 1 056

Limit, min 330 USD

2 Client identification on the web-site. Limit, max 1 450 USD
Nominal interest rate, p.a. 153 – 547
3 Client signs contract remotely (not still approved) Upfront fee/ Monthly fee 12,5 % of loan
amount

4 In case of approval money is immediately transferred to client’s ATM withdrawal fee 0

banking account.
Grace period First 30 days

Time-to-Yes
15 min

Time-to-Money
Immediately, but in some
cases not later than next
banking day

CreditLine is a different, and more

flexible borrowing solution. Credit line
is a bit like having a credit card - except
there's no card and no fees for
withdrawing cash! You can borrow up
to your approved limit, whenever you
need to. You only pay interest on the
amount you draw down from your credit
line account.

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THANK YOU