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United Kingdom
1880 (146 Years)
Last online: No recent activity
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License
A Grade License
Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.
B Grade License
Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.
C Grade License
Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.
D Grade License
From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.
Get to know provident financial group - provident hc & satsuma
Company Information
Get to know provident financial group - provident hc & satsuma
Founded in 1880, Provident Financial plc was a leading provider of credit products to UK consumers who were not well-served by mainstream lenders. Its Consumer Credit Division (CCD) operated two main brands: Provident, which was famous for its "doorstep" or home-collected personal loans, and Satsuma, which offered short-term online loans. Due to a surge in customer affordability complaints and regulatory pressure, the company announced the permanent closure of its CCD operations on May 10, 2021. A court-approved Scheme of Arrangement was implemented to manage and pay compensation to eligible customers. The parent company, Provident Financial plc, continues to operate through its other brands, Vanquis Bank (credit cards) and Moneybarn (vehicle finance).
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