Morses Club (AIM: MCL), is the second largest UK Home Collected Credit (HCC) lender and offers a range of loan products to over 230,000 customers through an extensive network of nearly 2000 agents around the UK.
This is viewed by many as a slightly murky sector with Main Market listed Provident Financial (PFG), the market leader and one time stock market darling, having fallen from grace a year or so ago.
AIM quoted Morses Club with a market capitalisation of only £183m is a tiddler compared to PFG, which was previously in the FTSE100 and is still valued at £1.5bn, despite recent troubles. While this sector may not appeal to some, we like the way Morses Club is using technology to broaden its offering and providing new products, such as its cashless lending product the Morses Club Card, which enables its customers to buy online as well as on the high street.
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