Thu, 05 Dec 2013

BNP Paribas Personal Finance, the consumer finance specialist behind some of the UK’s best-known High Street names, has launched a new affinity loan offer. The first partnership to launch is with Argos, part of Home Retail Group and the UK’s largest high street retailer online, for whom they have developed a new personal loan offer for their customers.

Argos wanted to choose a partner to develop a loan offer which would be a compelling product for its customers and be tailor made for its systems. Understanding the needs of customers was a fundamental requirement to create a proposition which would cater for Argos’ broad customer base and be fully branded throughout the application journey. Argos is one of the UK’s leading digital retailers with 635 million website visits in the last 12 months. It serves around 124 million customers a year through its network of 735 stores.

The Argos Personal Loan, to be provided through BNP Paribas Personal Finance's consumer brand Creation, gives successful applicants the opportunity to borrow between £3,000 and £15,000 with instant online decisions and flexible payment terms.

The affinity loan deal represents the latest big-name partnership for BNP Paribas Personal Finance, whose 40 years of consumer finance expertise has attracted leading UK brands.

Stephen Hunt, CEO at BNP Paribas Personal Finance, said: “Developing affinity loans is a key focus for us and a natural extension to our product offer. Our experience in working with retailers to provide tailor made solutions enables us to develop products that increase consumer choice and drive sales and loyalty.

“Building on our continued growth, this launch is just the latest development as we enter new markets. We’re delighted to be working with Argos to enhance the brand’s offering and understand that Argos customers associate the brand with great products, good customer service and affordability. The addition of affinity loans increases the breadth of our offer and demonstrates our flexibility to meet the needs of retailers and their customers.”

Martin Yarnell, Financial Services Marketing Manager at Argos, said: “We’ve developed this new loan to provide even greater choice for our customers and we believe that LaSer UK is well placed to deliver it. LaSer UK’s team has decades of consumer finance experience to support our new offer. It was also important to us that we selected a provider with a UK-based call centre operation that would truly understand our customer base.”

Affinity loans are the latest addition to BNP Paribas Personal Finance's expanding range of consumer finance solutions, which include co-branded credit cards, retail finance, premium finance and personal loans.