DFC Global Corp. Announces Launch of Internet Loan Product in Poland
February 10 2012 - 10:57AM
Business Wire
DFC Global Corp. (NASDAQ:DLLR), a leading international
diversified financial services company serving primarily unbanked
and under-banked consumers for over 30 years, today announced that
it has begun offering internet loans in Poland. The Company is
providing these loans by leveraging the scalable technology
platform and back-office support capabilities of its Scandinavian
internet lending business (Risicum) based in Helsinki, Finland.
Commenting on the announcement, Jeff Weiss, the Company’s
Chairman and Chief Executive Officer, stated, “Poland represents a
market of 40 million people, many of which are employed in service
sector and manufacturing industries, which fall squarely in our
target ALICE (Asset Limited, Income Constrained, Employed) customer
demographic. The internet lending product nicely complements the
in-home lending and multi-product store-based businesses we are
simultaneously expanding in Poland. We expect to further extend the
Risicum internet platform to other countries in Europe in the near
future.”
About DFC Global Corp.
DFC Global Corp. is a leading international diversified
financial services company serving primarily unbanked and
under-banked consumers and small business owners who, for reasons
of convenience and accessibility, purchase some or all of their
financial services from the Company rather than from banks and
other financial institutions. Through its approximately 1,300
retail storefront locations, multiple Internet websites and mobile
phone and other remote platforms, the Company provides a variety of
consumer financial products and services in seven countries across
North America and Europe—Canada, the United Kingdom, the United
States, Sweden, Finland, Poland and the Republic of Ireland. The
Company believes that its customers, many of whom receive income on
an irregular basis or from multiple employers, are drawn to the
range of financial services it offers, the convenience of its
products, the multiple ways in which they may conduct business with
the Company and its high-quality customer service.
The Company’s products and services, principally its short-term
single-payment consumer loans, secured pawn loans, check cashing
services and gold buying services, provide customers with immediate
access to cash for living expenses or other needs. The Company
strives to offer its customers additional high-value ancillary
services, including Western Union® money order and money transfer
products, foreign currency exchange, reloadable VISA® and
MasterCard® prepaid debit cards and electronic tax filing. In
addition to its core retail products, the Company also provides
fee-based services in the United States to enlisted military
personnel applying for loans to purchase new and used vehicles that
are funded and serviced under an exclusive agreement with a major
third-party national bank through the Company’s branded Military
Installment Loan and Education Services, or MILES®, program.
The Company’s networks of retail locations in Canada and the
United Kingdom are the largest of their kind by revenue in each of
those countries. The Company believes it is also the largest pawn
lender in Europe by revenue. At December 31, 2011, the Company’s
global retail operations consisted of 1,324 retail storefront
locations, of which 1,259 are company-owned stores, conducting
business primarily under the names Money Mart®, The Money Shop®,
Insta-Cheques®, mce®, Suttons and Robertson®, The Check Cashing
Store®, Sefina®, Helsingin PanttiSM, Optima® and MoneyNow!®. In
addition to its retail stores, the Company also offers
Internet-based short-term single-payment consumer loans in the
United Kingdom primarily under the brand names Payday Express® and
PaydayUK®, in Canada under the Money Mart name, and Finland, Sweden
and Poland primarily under the Risicum® and OK Money® brand names.
For more information, please visit the Company's website at
www.dfcglobalcorp.com.
Forward-Looking Statements
This news release contains forward-looking statements,
including, among other things, statements regarding the following:
pending or recent acquisitions and their expected benefits; the
Company’s future results, growth, guidance and operating strategy;
the global economy; the effects of currency exchange rates on
reported operating results; the regulatory environment in Canada,
the United Kingdom, the United States, Scandinavia and other
countries; the impact of future development strategy, new stores
and acquisitions; litigation matters; financing initiatives; and
the performance of new products and services. These forward-looking
statements involve risks and uncertainties, including risks related
to: the regulatory environments; current and potential future
litigation; the identification of acquisition targets; the
consummation of pending acquisitions, the integration and
performance of acquired stores and businesses; the performance of
new stores; the impact of debt and equity financing transactions;
the results of certain ongoing income tax appeals; the effects of
new products and services on the Company’s business, results of
operations, financial condition, prospects and guidance; and
uncertainties related to the effects of changes in the value of the
U.S. Dollar compared to foreign currencies. There can be no
assurance that the Company will attain its expected results,
successfully consummate pending acquisitions, successfully
integrate and achieve anticipated synergies from any of its
acquisitions, obtain acceptable financing, or attain its published
guidance metrics, or that ongoing and potential future litigation
or the various FDIC, Federal, state, Canadian, U.K., Scandinavia,
European Union, or other foreign legislative or regulatory
activities affecting the Company or the banks with which the
Company does business will not negatively impact the Company’s
operations. A more complete description of these and other risks,
uncertainties and assumptions is included in the Company’s filings
with the Securities and Exchange Commission, the Company’s annual
reports and Forms 10-Q and 10-K. You should not place any undue
reliance on any forward-looking statements. The Company disclaims
any obligation to update any such factors or to publicly announce
results of any revisions to any of the forward-looking statements
contained herein to reflect future events or developments.
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