Vanquis Bank, part of the Provident Financial Group (PFG), has today announced it’s expanding its product offering by introducing a range of new personal loans.

This significant step demonstrates their strategic vision to be a digital first customer led bank, offering a range of tailored financial products for consumers whose needs aren’t well met by high street banks.

The personal loans market is sizeable and represents a large growth opportunity for Vanquis Bank to offer new fixed term lending options, in addition to their credit card offering.

Until now they have only offered loans to existing card customers. From today, loans will be available to the open market through a phased roll out via distribution partners such as Experian and ClearScore.

Loan customers will benefit from a fully digital journey including automated decisioning, onboarding and account management. Vanquis’ skilled customer service team will be available to help should they need extra support with their account.

Loans Director at Vanquis Bank, Liam Deasey, said: “By offering a greater choice of financial products, we can better meet the differing needs of consumers. For some, a loan is more suitable than a credit card and enables them to plan for larger purchases and life events such as home improvements, getting married or to cover an unexpected emergency.”

“We’ll continue to evolve our loans proposition to ensure we’re offering appropriate and competitive products for our customers.”

To find out more visit: www.vanquis.co.uk/loans