NewDay (company)


NewDay, formerly SAV Credit, is a financial services company specializing in providing credit products to consumers in the United Kingdom.

History

The company was established in 2000.
On 13 May 2013 the company completed the purchase of Santander UK's store card business, including branded cards issued for retailers including Topshop, Dorothy Perkins, House of Fraser and Debenhams. Santander continued to operate the cards business until 1 April 2014, when SAV took full control and was renamed NewDay.
In March 2015, it was rumored that NewDay was for sale, valuing the company around $1.49 billion.
In March 2019, John Hourican was named CEO of NewDay, succeeding James Corcoran to the position.

Structure

NewDay is organised into two limited companies: NewDay Ltd and NewDay Cards Ltd. Both are authorised and regulated by the Financial Conduct Authority, and subscribe to the Lending Code.