Mr Lender Hits 14,000 Five-star Reviews Since Installing LiveChat

The challenge

In the competitive industry of short-term loans, companies like Mr Lender have to be on the ball when it comes to customer service. Good customer service can be a substantial competitive advantage when the market is flooded with similar services.

With LiveChat, the Mr Lender team can ensure that their service allows them to stay ahead of the pack and earn new customers. Robyn Spyers, Marketing Officer at Mr Lender, said that they have found that we get 10% more engagement on the website when LiveChat is available. With thousands of visitors going to the site each month, this 10% goes a long way to keep users on the site for longer and increase conversions.

Offering online loans through LiveChat

Mr Lender offers loans of up to £1,000, which customers tend to use for emergency purposes such as car repairs, medical bills, and broken boilers. If customers do not get the information they are looking for quickly, online loan companies risk the borrower going to another lender. LiveChat has allowed Mr Lender to answer customer questions faster than email and phone. The adoption of LiveChat was straightforward, and every customer knows how to use it when it pops up on the screen.

The customer is greeted with the name of the support agent, so it offers a very personal and strong user experience. The user types in their question, and the conversation is underway, whether it's on desktop, mobile, or tablet.

Robyn Spyers, Mr Lender

The solution

LiveChat allows lenders to be compliant

Since the loans industry in the UK is heavily regulated, being compliant and fairly treating customers is something that every staff member has to pay attention to. Saying the correct thing to the customer is vital. Spyers continued: “We have a full QA program to monitor all customer communications, and our agents get regular feedback to help them constantly improve the service.”

The Mr. Lender team uses canned responses to provide quick and thorough answers to potential customers.

We also have several saved and scripted responses that we use to speed up time for the most common questions like ‘How long does it take to get a loan?’ and ‘Can I pay back my loan early?’ By having the script functionality, we get to put together perfect answers to remain compliant and always amend these to suit each customer’s specific query.

Robyn Spyers, Mr Lender

The result

Mr Lender has recently won two Consumer Credit Awards

Since implementing the LiveChat service, positive outcome rates from customer enquiries have continued to rise, and Mr Lender has reached over 14,000 five-star reviews.

They were also nominated for several awards, including “Best Alternative Lender” in the Credit Today Awards in 2015 and 2016.

Most recently, the consumers voted Mr Lender to be “Best Short Term Loan Provider” and “Customer Service Champion” in the Consumer Credit Awards by Smart Money People.

Kuba Rogalski

LiveChat