News and views
As one of the most high-profile businesses in the finance sector, we attract a broad range of views on what we do. Here's our factual take on some of the hot topics involving Wonga.
Financial Ombudsman Service
Date article published: 29/12/2012 Read original article >
On 29th December 2012, the Sun published an article outlining a rise in the number of complaints about Wonga to the Financial Ombudsman Service (FOS).
According to the article, “six customers made official complaints about Wonga to Government watchdog the Financial Ombudsman Service” in the first half of last year, compared with 20 in the second half of 2011 and 26 in the first six months of this year.
Sunday Times article
Article published: 23/12/2012 Read original article >
On 23rd December 2012, the Sunday Times published a wide-ranging article about Wonga, including speculation of a move offshore. Wonga issued a statement in response to the article.
PayLater
Article published: 16/12/2012 Read original article >
There has been some media interest over the weekend about a new retail product called PayLater, which is still in the very early stages of launch.
We have always said we intend to develop a range...
OFT report
Article published: 20/11/2012 Read original article >
The Office of Fair Trading (OFT) has published its interim report into payday and short-term lenders.
We welcome the report, which seeks to provide further protection for consumers and clamp down...
Personal debt survey
Article published: 13/11/2012 Read original article >
On the 13th November 2012, the Association of Business Recovery Professionals R3 released a personal debt survey looking into the financial choices (and concerns) of 2,051 British adults.
Surveys...
Wonga, Tech City and entrepreneurialism
Article published: 23/10/2012 Read original article >
The New York Times published a blog in October 2012, talking about how “London’s fast-growing start-up scene is trying to disrupt the financial status quo.”
It discusses how “many parts...
Response by Editor
Published:
Categories:
Wonga
Tech City
Innovation
Entrepreneurialism
Start ups
Digital disruptor
Sponsorship debate
Article published: 10/10/2012 Read original article >
Last week when the announcement was made that Wonga will be Newcastle United’s next shirt sponsor, there was the normal surge of intense media attention surrounding the deal.
The news that we...
Response by Editor
Published:
Categories:
Newcastle United
Newcastle United Foundation Enterprise Scheme
Newcastle United Academy
Wonga
Wonga customers
Blackpool
Hearts
Newcastle United sponsorship
Newcastle United has agreed a new four-year deal with wonga.com which will make the digital finance company the Club’s lead commercial sponsor.
In addition to sponsoring the team shirt from the...
Response by Editor
Published:
Categories:
Wonga
Newcastle United
Newcastle United Foundation Enterprise Scheme
Newcastle United Academy
Wonga fees and interest
Article published: 03/10/2012 Read original article >
In October 2012, the Daily Mail published an article about fees and charges on short-term loans, using Wonga as one of the case studies.
In this case study it looked at what happens if somebody...
Response by Editor
Published:
Categories:
Wonga
Annual percentage rate (APR)
Fees
Hidden charges
Wonga customers
The loan arranger
Article published: 27/09/2012 Read original article >
In September 2012 CNBC Business published an article on Wonga, having spent some time with Errol Damelin, our CEO.
It talks about where Wonga fits into the financial landscape and what the future...
Response by Editor
Published:
Categories:
Wonga
Technology
Wonga for Business
Wonga South Africa
Algorithm
The future of short-term credit
Article published: 24/09/2012 Read original article >
GfK, the fifth largest market research organisation in the world, has just released (September 2012) its findings on emerging trends that impact retail financial services.
It looks at the...
Customer focus behind Wonga’s continued growth
Here is the Wonga announcement for our financial year results (ending 31 December 2011).
Key figures include:
• Revenue up 225% to £184.7m
• Net income up 269% to £45.8m
• Number...
Technology and innovation
Article published: 22/08/2012 Read original article >
In August 2012 the Wall Street Journal published an interesting piece on the future of banking, alternative forms of lending and “the power and disruption the internet brings.”
It described...
TV sponsorship
Article published: 07/08/2012 Read original article >
In August 2012, This is Money published an opinion piece in which the author said that Wonga’s sponsorship of the ‘Red or Black?’ game show left “a bitter taste in my mouth.”
It...
Response by Editor
Published:
Categories:
Advertising
Sponsorship
Annual percentage rate (APR)
Customers
Wonga
Next generation finance
Article published: 31/07/2012 Read original article >
In July 2012 the Daily Telegraph published an article about the views of 20 to 29 year-olds towards financial services.
The piece highlights a statistic from the Young Money Report that “only...
Campaign for affordable credit
Article published: 26/07/2012 Read original article >
A campaign pack against high-cost credit was recently published online, looking at the impact of limited access to affordable credit.
The pack raises a range of interesting points, some of which...
Response by Editor
Published:
Categories:
Rate caps
Customers
Annual percentage rate (APR)
Financial literacy
Wonga
Wonga for Business launch
Article published: 12/05/2012 Read original article >
The Economist published an article in May 2012 shortly after the Wonga for Business launch, and days before the South Africa launch of the consumer service.
It was a balanced piece that...
OFT criticism over debt collection methods
Article published: 22/05/2012 Read original article >
In May 2012, the BBC published an article which reported criticism and a ruling that Wonga received from the Office of Fair Trading (OFT). The piece mentions isolated incidents of “aggressive...
High APR and US national debt
Article published: 21/09/2011 Read original article >
Although it is a slightly older article, from September 2011, one of the most talked about stories on Wonga’s APR comes from MoneySavingExpert.com. It speculated that borrowing £100 with...
Wonga brand recognition and marketing
Article published: 11/07/2012 Read original article >
In July 2012 an article in Marketing magazine looked at how "disapproval of brands providing credit-based services to blue-collar customers fails to acknowledge consumers' right to choose...
Targeting vulnerable customers
Article published: 01/03/2012 Read original article >
Back in March 2012, the Guardian ran an in-depth feature covering a broad view of Wonga, including concerns over light-hearted advertising and descriptions of the corporate culture at our head...
Unite and the Wonga week
Article published: 27/06/2012 Read original article >
In June 2012 Unite issued a press release that suggested “the third week of every month is rapidly turning into Wonga Week” - with the union estimating “that if a worker borrowed £200 per...
Credit for small and medium sized businesses
Article published: 07/05/2012 Read original article >
The Daily Mail published an article on the day of the Wonga for Business launch in May, positioning Wonga as a “pay day loan firm which charges interest rates of 4,200 per cent or more” and...
Football League advertising
Article published: 18/06/2012 Read original article >
In June 2012, the Guardian published an article about Premier and Football League clubs no longer advertising Wonga on their websites. It discussed a campaign for the Football League to not renew...
Digital disruptor: South Africa
Article published: 15/05/2012 Read original article >
When we launched our consumer service in South Africa in May 2012, Forbes published an article discussing Wonga’s international growth and also the presence of our “Cape Town office, staffed...
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Given the large amount of media coverage about Wonga, we will not be able to post a response to every story. We will reply to your request within 48 hours and let you know of our decision.
Contact OpenWonga
Luke Manning, Editor
editor@openwonga.com
We’ll endeavour to respond to all queries relating to OpenWonga within 24 hours
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