Enova's CashEuroNet UK and EuroNetCash Businesses Receive Authorization from the Financial Conduct Authority

QuickQuid, Pounds to Pocket and On Stride Financial Granted Full Authorization for Consumer Credit Operations

Jan 29, 2016, 11:25 ET from Enova International

CHICAGO, Jan. 29, 2016 /PRNewswire/ -- Enova International (NYSE: ENVA) today announced that CashEuroNet UK, which operates online lending products QuickQuid and Pounds to Pocket, and EuroNetCash, which operates On Stride Financial, have received full authorization from their UK regulator, the Financial Conduct Authority (FCA).

Both have been operating under interim permission since April 1, 2014, when the FCA took over supervision of the consumer credit industry and initiated a new review process for all consumer lenders to ensure they were meeting the rigorous standards set forth by the agency.

"We are very pleased to receive full authorization from the FCA, which reflects how seriously we take our responsibilities to consumers," said Nick Drew, UK Managing Director. "Today's announcement highlights our commitment to maintaining robust policies that provide consumers with the best possible outcomes."

About Enova International

Enova is a leading provider of online financial services to the large and growing number of customers who use alternative financial services because of their limited access to more traditional credit. Enova offers or arranges loans for consumers and/or financing for small businesses in all 50 states and Washington D.C. in the United States and in five foreign countries:

Enova, through its trusted brands, uses its proprietary technology, analytics, and customer service capabilities to quickly evaluate, underwrite, and fund loans or provide financing to customers when and how they want it. Headquartered in Chicago, Enova has more than 1,100 employees serving its online customers across the globe.

About CashEuroNet UK

CashEuroNet UK is a financial services company based in the UK that provides consumer credit products over the Internet to individuals seeking alternative credit options. An indirect subsidiary of Enova International, Inc., CashEuroNet UK leverages the latest technology and advanced analytics to deliver innovative and transparent credit products. Through its online lending businesses, QuickQuid and Pounds to Pocket, CashEuroNet UK provides both short-term loans and longer instalment loans for individuals with varying financial needs.

About EuroNetCash

EuroNetCash is a financial services company based in the UK that provides consumer credit products over the Internet to individuals seeking alternative credit options. An indirect subsidiary of Enova International, Inc., EuroNetCash operates online lending business On Stride Financial, which is an innovative direct loan provider offering unsecured personal loans to residents of the UK.   

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SOURCE Enova International