1 Executive summary
The overall purpose of this report is to examine whether Wonga has a promising future and to access, and provide a recommendation as to whether it is worth investing in. This is examined in light of the company’s background, key product and operations, financial statistics, a SWOT analysis, ethics and it’s future targets.

Wonga is a british payday loan company which offers, short term high interest loans to individuals online, and within minutes using an algorithm that analyses thousands of pieces of information in seconds. Since its launch it has also added a service where customers can distribute the cost of items bought online over three monthly installments in return for an upfront payment. Through …show more content…

To become more competitive, one of their main goals became international expansion. Wonga’s services are now provided in the UK, Poland, Canada, Spain and South Africa.
Because of Wonga’s new strategies in online finance services, the company can gain many competitive advantages and make differences in the finance market of the world. The first advantage is providing financial services fast and simple without the long queue of waiting, complex documents and rigidity. Thus, the company becomes a great choice for people and small businesses that need to borrow some cash quickly.
The next difference is the company using online technique to deal with customers’ requests. As a result, customers do not need to make a meeting with bank officers or contact with banks via phones because all the services are processed via online website or smartphone. The other competitive advantage is creating a friendly environment for customers’ choices. Customers may feel more comfortable to choose how much cash they want to borrow and how long they want to pay money back to the firm. Therefore, customers can save a lot of money when paying interest anytime they want that can be a few days or weeks. This is really a big advantage the company brings to customer when traditional finance providers require a fix-interest paying in a long time. Wonga therefore differentiates itself from