Moneyline is a not-for-profit organisation that provides access to credit for customers that want small cash loans and need flexibility with their payments.
Moneyline is a not-for-profit organisation that provides access to credit for customers that want small cash loans and need flexibility with their payments.
20% of people in the UK are unable to access affordable credit or find flexible ways to deposit savings through mainstream banks due to the low value and short-term nature of what they need. This 20% is expected to increase in the economic fallout from Covid 19.
The alternative to our lending is via a reducing number of high cost credit providers which can trap individuals in more vulnerable circumstances into a burden of unmanageable debt. There is also a growing void in the non standard credit market that affordable credit providers need to step into to prevent less scrupulous lenders filling the gap.
We have built a loyal customer base over the years with 65% of our customers using our services on a regular basis. Growing our customer base decreases our cost of delivery, which means we can put more money back into the pockets of the households that need it the most.
We provide access to credit for customers that want small some cash loans. Our customers are generally on a low income and don’t have access to credit cards or overdrafts to pay for larger purchases, such as a washing machine or tv.
Many of our customers still pay cash for their bills so they can keep tight control of their budget, but this excludes them from many online lenders who make automated decisions using credit scores and open banking. Often their only options for cash credit are very high-cost lenders that charge fees when customers can’t pay, or illegal money lenders.
That is where we come in. We understand that our customers often have lumpy income from more than one source which means making monthly repayments can be hard. Our products are designed to support our customers by offering flexibility on how and when they pay and offering product holidays when they need them. For low-income families this is especially welcomed at school holidays and Christmas when other costs increase.
As a Not For Profit lender ensuring we are making an impact is really important to us. Our report for 2022 will be coming soon.
Non-Executive Board Member
Chris has extensive experience at Board level in financial services and social enterprise organisations, both as an Executive and Non-Executive Director, most recently as Chair of Age UK Enterprises, the FCA regulated commercial trading arm of the charity, and as a member of the Board of Richmond Fellowship Scotland, the country’s largest social care provider. Prior to that he was Chair at British Friendly Society, a leading member owned mutual insurer which specialises in income protection products, and a Non-Executive Director at Wave Community Bank, a credit union that provides ethical and affordable financial products to lower income families.
In his Executive career he held senior leadership positions in a number of financial services firms including Chief Executive of the Lambeth Building Society, Managing Director of Legal & General’s unit trust business and Group Chief Executive of TIS Group, a specialist investment firm.
Non-Executive Board Member
Since 2020 Jan Coos has been the Executive Advisor to the CEO at Dow Jones. Jan-Coos previously served as a senior executive for Refinitiv. Prior to that, he spent seven years at Thomson Reuters where he was Managing Director Legal UK before becoming Managing Director Global Sales & Marketing Financial & Risk. He was also Chief Executive at Travel Security Services. Jan-Coos is also a private investor in the financial and legal tech industry and an advisor on the sector to private equity and institutional investors. Jan-Coos spent more than 25 years in financial and legal data and market infrastructure businesses.
He has been a non-executive director at Moneyline since 2019 and is also a trustee at the Social Business Trust.
Non-Executive Board Member
Kevin is Co-Head of Emerging Companies, Investec Bank UK, and Co-Head of Outward VC, a London-based venture capital fund. Backed by Investec, NIBC Bank and other international investors, Outward makes early-stage investments in UK-headquartered fintechs addressing large, global opportunities. Outward’s portfolio include Bud, Curve, Monese and PrimaryBid. Kevin works closely with Outward’s portfolio companies post-investment.
Kevin is also a non-executive director of the Greater London Investment Fund, a fund of funds backed by the Mayor of London and the European Regional Development Fund.
Prior to Venture Capital, Kevin worked internationally in capital markets for many years and holds degrees in Law and in Commerce.
Non-Executive Board Member
Sam started her career as a chartered accountant, working with Price WaterhouseCoopers. She has spent 20 years working in the water sector, where she is now Managing Director of Household Customer Services for Welsh Water, where she is responsible for all front line customer service to 1.3m households across Wales and parts of Herefordshire and Deeside.
In the last few years, Sam has led on the introduction of financial support schemes and social tariffs to support low income households that struggle to pay for water and sewerage services, developing partnerships with the public sector, other utilities and not-for-profit organisations to explore ways of reducing water poverty.
Non-Executive Board Member
Ed joined Charity Bank as Chief Executive in July 2018 from Big Issue Invest (BII), the social investment arm of The Big Issue Group, where he was Managing Director for nearly ten years. During that time, BII grew from a book of social enterprise loans of around £2 million to a diverse array of social funds under management of over £65 million.
Ed has over 30 years of corporate banking, social investment and business consulting experience. He spent the early part of his career in commercial banking, mainly with Credit Suisse. Before joining BII in 2008, Ed was head of the Small Business Banking practice of ShoreBank International (now known as Enclude) where he oversaw the implementation of SME finance programmes and advised financial institutions throughout the developing world.
Non-Executive Board Member
Matthew specialises in banking and asset finance. He is a leading asset finance lawyer with more than 20 years’ experience. He is known for his knowledge of the market, his responsiveness and proactive approach.
He has worked on numerous transactions covering a range of assets and sectors, from aircraft to computers. He handles a variety of asset based structures, including cross-border and off-balance sheet transactions. Matthew has particular experience in equipment leasing as well as the financing of corporate aircraft and helicopters. His work includes export credit, vendor finance, receivables finance and the sale of leasing companies and lease portfolios.
Chief Executive Officer/Executive Director
Shiona is a qualified Accountant (ACMA) and was appointed as CFO of Moneyline in December 2013, moving into the COO role in 2016 and shaping the operating model to meet the demands of the changing market and regulatory environment. She was most recently appointed as the Interim Chief Executive Officer in 2022 to lead Moneyline’s significant future programme of digital and customer journey automation and evaluate opportunities to expand the portfolio.
Shiona brings over 15 years of experience in Financial Services, 10 of which were spent in RBS. She has had a broad range of roles including Decision Support Manager for RBS mortgages, Financial Controller for RBS Invoice Finance, and a variety of project roles. Prior to RBS Shiona worked in accounting and analyst roles in Sydney, Australia with Westpac Bank and Colonial First State investments.
Shiona was a member of the Responsible Finance Board during 2015/16 contributing to shaping the future strategic plans to grow this sector membership body and secure a sustainable model of operation.
Before joining Moneyline Shiona took a year out to work as a volunteer consultant to over 10 different NGOs in Cambodia’s Siem Reap area, from small local NGOs to large Internationals. The NGO scopes of work ranged from Community Development, Education, Conservation and Health. This opportunity significantly broadened her experience and strategic thinking.
