Twenty years after entering the Romanian market, Provident is taking a new step in the company’s development and launching ProviCard, the first credit card in Provident’s portfolio, aimed at customers who prefer a fully digital experience. With a revolving credit limit of up to RON 10,000, ProviCard can be applied for via a 100 per cent online process and managed directly through the ProviGo app. The card offers a grace period of up to 30 days, cash withdrawals from any ATM, foreign exchange rates with no additional charges and flexible repayment terms.
“ProviCard marks a new stage in the evolution of our portfolio. In recent years, we have steadily expanded the ways in which customers can access Provident’s products, by developing partnerships and launching ProviOnline, our 100 per cent digital product. Now, for the first time, we are adding a credit card to our portfolio and continuing to build options tailored to different financial needs and behaviours. After 20 years, our challenge is not only to remain relevant to the customers who already know us, but also to build Provident for the next generation of customers,” says Florin Bâlcan, Managing Director of Provident Financial Romania.
ProviCard has been adapted for the Romanian market, drawing on experience from Poland, where over 230,000 customers already use this card.
20 years of Provident in Romania
Over the past two decades, more than 1.4 million Romanians have been Provident customers, and the company has provided loans totalling over EUR 2 billion. Today, Provident serves nearly 200,000 active customers, almost half of whom live in rural areas.
However, the customer profile has changed in line with the market. Alongside customers who opt for the home-based service, Provident now also serves, through ProviOnline and the partnerships developed in recent years, a category of customers with a predominantly digital profile. They have an average age of 37 and an average monthly income of around RON 4,000.
ProviCard continues this evolution and brings Provident closer to new categories of customers who are looking for flexibility and a digital experience.
Provident Financial Romania is part of the British group International Personal Finance (IPF), Europe’s largest provider of home-based loans. The group has 1.7 million customers across nine European countries, as well as in Mexico and Australia. IPF is one of the largest British employers in Central and South-Eastern Europe and is owned by BasePoint, an American company specialising in asset-backed financing solutions for financial institutions, fintech companies and consumer credit providers. Since 2006, Provident has invested over EUR 553 million in Romania and has contributed over EUR 273 million in taxes to the state budget. With over 2,000 employees, the company is the second-largest British employer in Romania.
Provident develops and supports social responsibility projects – financial education programmes, the development of young talent and support for disadvantaged groups – in which it has invested over €2 million to date. With a clear mission to support financial and social inclusion, these community investment projects are carried out under the umbrella of the Provident Association for Education.