Sofinco, leader in online consumer credit www

Sofinco, leader in online consumer credit
www.sofinco.fr
Having been the first lender to offer online loan simulations with immediate pre-approval in 2001, Sofinco has
since pursued its strategy of expanding its online business. Technological research, a continuous drive to
improve client services and adjustments to marketing processes have all contributed to making Sofinco a leader
in online consumer credit in France.
Strong visitor numbers:
With 7.5 million visitors in 2005 and 50,000 page views every day, the www.sofinco.fr site is France’s leading
site for distributing consumer credit.
More than one in every three requests (37 %) for a personal loan is made on line.
One in every four new clients acquired via the internet:
More than 25% of new clients for Sofinco’s direct sales channel are generated by internet.
With an average age of 41, these new clients are six years younger than borrowers who use traditional
distribution channels (branch network, telephone, etc.) and they have an average income that is 22% higher,
although this gap has narrowed over the years as more and more households have personal computers.
Single people and executives are particularly keen on using the online channel: nearly half of Sofinco’s new
clients in these two groups use the internet to take out a new consumer credit product.
The popularity of internet amongst Sofinco’s clients and prospects is a reality
According to a study made by Research International in September 2005 on a panel of clients who had
subscribed to a consumer credit product on www.sofinco.fr, 92% would recommend the site to family and
friends.
In another study released in early 2006, the Benchmark Group highlighted a number of this site’s advantages:
the ability to produce simulations and to receive immediate pre-approval from a link located on the home page of
the site, the user-friendliness and simplicity of the simulator on www.sofinco.fr and the effective highlighting of
products.
Web users showing growing interest in online credit:
LH2 carried out a study on behalf of Sofinco in March 2006 on the motivation of consumers who used the
internet to take out a consumer credit product, irrespective of the lending establishments.
Some 87% of respondents agreed that the internet helped them be better informed on credit, and 85% that the
internet enabled them to compare credit product offerings more easily.
Use of the internet to take out a credit product is also synonymous with speed: 84% of those interviewed
appreciated seeing what amount could be made available by using online simulators; 56% indicated that the
ability to get immediate pre-approval was important to them.
Lastly the internet provides consumers with reassurance: 82% of internet users questioned agreed that this
distribution channel gives them the time needed to consider the best credit solution, and 74% agreed that the
internet made it easier to manage their budget.
Sofinco is a specialist subsidiary of Crédit Agricole S.A.