Wonga LoansImage courtesy of Stuart Miles / FreeDigitalPhotos.net
Ms. Merryn Somerset Webb has recently written an article where she says how other financial institutions should follow Wonga’s example when it comes to lending to its customers. The article starts by discussing some of the problems that the financial industry in general has had to deal with over recent years. MoneyWeek’s editor-in-chief then talks further about how many of these problems have been the result of a lack of transparency within the industry. The article then states that because Wonga offers greater transparency with regards to the financial products it sells, its customers have quickly built up trust in the digital finance company – something which the more traditional financial institutions would be wise to follow suit.

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