Hailed as being the iTunes of the financial arena, wonga.com was founded in autumn 2006. Wonga is a data-driven and completely automated service. Customers lodge their applications on the wonga.com website and funds are transferred to the successful applicant’s account within 15 minutes. Loan application decisions are reached by means of a system applying artificial intelligence and collecting and processing thousands of pieces of information in a very short space of time. The speed and convenience in which the process takes place as well as the transparency about costs involved is what Wonga is retailing when offering loans to their thousands of satisfied customers.