Optimism among consumers
Robert Szcześniewski pointed out that consumer sentiment is becoming increasingly optimistic, although pessimists still prevail. He notes, however, that this advantage is decreasing from quarter to quarter. Increased optimism is manifested, among other things, in the growing demand for loans. Consumers are more willing to take on financial obligations and, more importantly, repay them on time.
Szcześniewski stressed that borrowing money is easier thanks to the financial stability of consumers, which in turn contributes to their greater confidence in making purchasing decisions.
Short-term loans for younger customers Soonly Finance operates mainly in the short-term loan segment, offering products with a repayment period of 30 or 61 days. The company’s client profile differs from the standard financial sector, as it mainly serves younger customers with an average age of around 30-35.
The most frequently borrowed amounts are around PLN 2,000, although the maximum amount available is PLN 8,000.
Borrowing Purposes and Seasonality
Soonly Finance customers take out loans primarily for occasional expenses, such as holidays, vacations or the start of the school year. Szcześniewski noted that these loans are often chosen by people who want to take advantage of attractive shopping offers, do not want to wait for a payday to avoid missing out on an opportunity.
Relationship with the customer and competition with banks The company aims to build long-term relationships with customers, offering flexible and small loan amounts that do not overburden the customer. Although the company does not earn on every loan, it counts on the customer’s satisfaction, who may return in the future with greater financial needs.
In terms of competition with banks, Szcześniewski noted that Soonly Finance is perceived as competition by banks because it meets the needs of customers who often already have other financial products in banks. However, due to the small amounts of loans, the company acts more complementary than competitive to banks.
New regulations and plans for the future
Since January 2024, the loan sector has been under the supervision of the Polish Financial Supervision Authority (KNF). Szcześniewski assessed this change positively, pointing out that the supervision introduces greater security for consumers and uniform rules for the entire industry. KNF representatives have tried from the very beginning to understand the specifics of the loan market, which allows for better functioning of both companies and the regulator.
