PiggyBank

What PiggyBank does

PiggyBank is a UK consumer-facing financial services brand that historically provided payday loans and short-term loans to UK residents aged 18 and over. The product was offered exclusively through its website (piggy-bank.co.uk) on a direct-to-consumer basis, with applications processed online and subject to credit and fraud checks conducted via TransUnion acting as the Credit Reference Agency and Fraud Prevention Agency. The platform incorporated standard web security controls including SSL encryption, encrypted data storage, secure web access, and firewalls. The company monetised lending through interest and fees on the loans it originated.

The business is operated under the legal entity DJS (UK) Limited, a private limited company registered in England (company number 07952979) and authorised and regulated by the Financial Conduct Authority under reference 660382. Its registered office is located at 23 Hinton Rd, Bournemouth, Dorset, BH1 2EF. The customer segment is a horizontal base of UK consumers seeking short-term credit between paydays, typically those with limited access to traditional banking credit products. Marketing was conducted through digital channels including organic search, paid advertising, and affiliate programs.

On 5 December 2019, DJS (UK) Limited entered administration following the appointment of Shane Biddlecombe and Gordon Johnston of TruSolv Limited as joint administrators. All new lending activity ceased at that point, and the company has been conducting an orderly wind-down with the administrators seeking to recover assets for the benefit of creditors. A High Court order dated 25 September 2023 confirmed that a prescribed part distribution under section 176A(2) of the Insolvency Act 1986 is not required for unsecured creditors. The FCA continues to supervise the administrators' activities, and the customer service team remains available for queries regarding existing loans.

Name

PiggyBank

Legal name

DJS (UK) Limited

Website

https://piggy-bank.co.uk

Company type

Private

Operating status

Closed

Headcount range

1–10 employees

Short description

PiggyBank, a trading name of DJS (UK) Limited, was a UK-based direct-to-consumer online lender offering payday and short-term loans to UK residents. The company entered administration in December 2019 and is now conducting an orderly wind-down with no new lending activity.

Ownership category

akta.pro rank

Product category

Consumer Lending (Payday and Short-Term Loans)

NAICS

Nondepository Credit Intermediation (5222)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Overdraft & NSF Fee-Based Short-Term Credit (FSAKAMAF)

Keywords

• Payday loans
• Short-term lending
• Consumer credit
• Online lending
• FCA-regulated lending

Headquarters

HQ city

Bournemouth

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Others

Revenue model

1. Payday and Short-Term Loans: The company generates revenue through interest and fees charged on payday loans and short-term loans provided to UK consumers. Loans are offered to over 18s subject to status and credit checks.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

PiggyBank operated as an FCA-authorised direct online lender, providing payday loans and short-term loans to UK consumers aged 18 and over through its website piggy-bank.co.uk. Customers applied online, were subject to credit reference and identity checks, and received personalised loan terms. Following administration on 5 December 2019, all new lending has ceased while existing loans continue to be serviced.

Product overview

PiggyBank operated as a single-product short-term lending platform for UK consumers, providing payday loans and short-term loans under FCA authorization (reference 660382). The company is the trading name of DJS (UK) Limited and entered administration on 5th December 2019, with joint administrators Shane Biddlecombe and Gordon Johnston appointed. Following administration, all new lending activity ceased, and the company is conducting an orderly wind-down of the business while existing customers continue with loan repayments. The product offering was a unified short-term loan service rather than a multi-module platform architecture.

Differentiator

Problem solved

Functional benefit

Products and services

• Payday Loans & Short Term Loans

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• TransUnioncoreTechnology or IntegrationTransUnion is used as a Credit Reference Agency (CRA) and Fraud Prevention Agency (FPA). PiggyBank conducts credit checks against TransUnion's records during the loan application process and shares loan performance data with TransUnion. This is essential for credit risk assessment and regulatory compliance.

Scale indicators2 records

Recent moves5 records

Expansion highlights1 record

Direct peers

• LoanPig: LoanPig is a UK-based short-term loan provider offering small-sum, short-duration loans to UK consumers with similar affordability assessments and FCA-supervised lending terms as PiggyBank.
• Wonga: Wonga was the UK's largest online payday lender and a direct peer to PiggyBank, operating a similar short-term, high-cost, direct-to-consumer digital loan model to UK subprime borrowers. It also entered administration in 2018, illustrating the shared structural pressures on the segment.
• Satsuma Loans: Satsuma Loans is a UK-based online provider of short-term and instalment loans targeting similar subprime UK consumers as PiggyBank, with FCA authorisation and digital onboarding. It directly competes in the same UK short-term credit niche.
• Pounds to Pocket: Pounds to Pocket is a UK online short-term lender targeting the same subprime UK consumer segment as PiggyBank, providing payday-style loans with comparable FCA-regulated terms and pricing structures.
• Mr Lender: Mr Lender is a UK online payday and short-term loan provider offering small-sum, short-duration consumer loans through a similar digital application process to PiggyBank, and is subject to the same FCA high-cost short-term credit regime.
• 247Moneybox: 247Moneybox is a UK online short-term and payday loan provider targeting similar UK subprime borrowers with quick-decision, FCA-regulated short-term loans, directly overlapping with PiggyBank's offering.
• Sunny: Sunny is a UK short-term and instalment loan provider operating under FCA regulation and serving a similar subprime UK consumer base, with directly comparable short-term consumer lending products to PiggyBank.
• CashEuroNet (QuickQuid): CashEuroNet, trading as QuickQuid, was a major UK payday and short-term loan provider offering near-identical products to PiggyBank's, including online application and high-cost short-term credit. QuickQuid entered administration in 2019, the same year as PiggyBank, after FCA conduct and affordability action.

Broad incumbents

• Non-Standard Finance: Non-Standard Finance is a UK specialist lender focused on subprime consumer credit, guarantor loans, and related products. It serves a broader portfolio than PiggyBank but operates in the same UK non-standard credit market with overlapping customer profiles.
• Provident Financial: Provident Financial is a long-established UK subprime lender offering home-credit, consumer credit, and lending products to non-standard borrowers. It is a broader incumbent operating outside the storefront and online payday niche but competes for the same underlying UK consumer credit demand.

Market position

Strengths2 records

Weaknesses5 records

Competitive moat2 records

Key risks5 records

Key highlights4 records

Customer concentration

• Xx.com/piggybankloans

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PiggyBank