CHICAGO, Nov. 9, 2015 /PRNewswire/ -- NetCredit, a personal loan provider that helps consumers get access to the credit they need, has been included twice in recent reports released by the Center for Financial Services Innovation (CFSI). NetCredit's innovative and customer-focused features are highlighted in two CFSI reports focused on examining forward-thinking financial companies' business practices and product features.
On Oct. 21, CFSI released its report, "A Snapshot of Quality and Innovation Among Small-Dollar Credit Installment Lenders." NetCredit was featured alongside 15 other market leaders and innovators in the industry who have adopted some of the high-quality practices from CFSI's Compass Guide to Small-Dollar Credit (SDC). CFSI highlighted NetCredit's My RightFit Tool™ as an innovative approach for lenders looking to design repayment timing and other product features to support and encourage successful on-time repayment.
A previous generation of NetCredit's My RightFit Tool was featured in another recently published CFSI report, "Designing High-Quality, Small-Dollar Credit: Insights from CFSI's Test & Learn Working Group." Research findings suggest that presenting loan repayment choices to customers – which is what NetCredit does with its My RightFit Tool – can result in an increase in successful payments. CFSI postulated that offering borrowers choice and flexibility in the size, length and terms of their loans can provide a more positive borrowing experience.
"Allowing customers to choose the size of their monthly payments enables them to identify an amount that best fits their budget, increasing the likelihood that they will be able to successfully repay the loan," said Briana Fabbri, head of marketing for NetCredit. "Helping our customers successfully fulfill their financial obligations is a key goal for us, and we are pleased that our commitment to offering our customers more personalized options has been shown to provide a more positive customer experience."
The My RightFit Tool is just one way NetCredit is providing a more personal experience focused on customer success. The company's My CreditBuilder allows customers to build positive credit history with two of the major credit bureaus by making timely repayments; and My Choice Guarantee™ allows customers to return their loan if it isn't the right fit, until 5 p.m. CT on the business day after funding.
At NetCredit, we believe everyone deserves access to credit, and that important decisions shouldn't be based on just one number. We offer personal loans over the Internet to individuals who need access to credit but can't secure a loan from their bank. Thousands of customers trust us to provide them with straightforward, trustworthy credit through a process that's simple, transparent and reliable. NetCredit is a wholly owned subsidiary of Enova International, Inc. (NYSE: ENVA), a leading online lender that has served over 3 million customers worldwide since 2004.