Draft:118 118 Money

• Comment: The financial company do not meet the notability guideline for companies on Wikipedia. There are no significant impact they have to stand alone Tesleemah (talk) 12:37, 23 December 2024 (UTC)

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Madison CF UK Limited

Trade name	118 118 Money
Company type	Private
Industry	Financial services
Founded	February 7, 2013 (2013-02-07)
Headquarters	The Clubhouse, Holborn Circus, 20 St Andrew Street, London , United Kingdom
Area served	United Kingdom
Key people	James Fox (Director) Mark David Mayhew (Director) Robert Pines (Director) Pradipkumar Raval (Director)
Products	Personal loans, credit cards
Services	Consumer finance, payment services
Revenue	£122.7 million (2023)
Operating income	£23.6 million (2023)
Net income	−£3.1 million (2023)
Total assets	£421.1 million (2023)
Number of employees	95 (2023 average)
Parent	kgb
Website	www.118118money.com
Footnotes / references

118 118 Money is a financial services provider in the United Kingdom, offering unsecured personal loans and credit cards primarily to near-prime and subprime customers. It is part of the same group as the 118 118 directory enquiries service. The company is headquartered in London, with operations and customer support spread across multiple locations, including Milton Keynes, Cardiff (Wales), and Manila (Philippines).

History and Background

118 118 Money was established in 2013 as an affiliate of kgb, which also owns and operates The Number UK Ltd., known for its 118 118 directory enquiry service. The brand began by offering unsecured personal loans ranging from £1,000 to £5,000 over 12 to 24 months, targeting borrowers seeking alternatives to payday loans.

Originally based in Cardiff, the company appointed Ali Riaz Chaudhry as Chief Executive in 2017, after a period of growth that saw 118 118 Money surpass £150 million in total loan originations.

Products and Services

Loans

118 118 Money provides unsecured personal loans typically from £1,000 to £5,000, repayable over periods of up to 36 months. Its target market is borrowers with limited or imperfect credit histories who may not qualify for conventional bank loans. The company positions its loans as alternatives to payday loans, with a fixed interest rate and no requirement for a guarantor.

Credit Cards

In 2018, 118 118 Money introduced a credit card featuring a monthly subscription fee rather than a traditional interest rate, later transitioning to a more conventional structure with a representative APR. Designed for consumers with “near-prime” or subprime credit, it offers a credit builder function for those with limited credit histories.

Regulation and Authorisation

118 118 Money is the trading name of Madison CF UK Limited. The firm is authorised and regulated by the Financial Conduct Authority (FCA) for consumer credit and payment services. It received its full FCA authorisation in March 2017. In July 2023, it became subject to the UK's Consumer Duty regulation, requiring firms to focus on providing good outcomes for consumers.

Advertising and Brand

The company's advertising initially leveraged the well-known “118 118” runners from its directory enquiries campaigns. In 2014, it launched a television ad featuring the mustachioed characters, directed by Watermill through Smersh. In 2023, 118 118 Money relaunched the characters in a new promotional campaign intended to highlight its approach to consumer lending and financial fitness.

Data Breach Incident

In March 2020, 118 118 Money took its services offline after detecting unauthorized access to its network. Credit card functionality remained active during the investigation, with customers advised to contact the company's support lines for concerns.