GE Consumer Finance Home Lending has appointed Carat to its &£20m media planning, buying and strategy account for its Purple Loans and First National brands.
Carat was appointed after a pitch against two undisclosed agencies. Concord London is thought to have been the incumbent.
The appointment was overseen by GE Consumer Finance Home Lending direct-to-consumer leader Pauline Langley. The company is planning a marketing push for the two brands, which will use television, press and online advertising. Carat Direct Communications and Carat Digital divisions will be responsible for executing the brief.
It is understood that Carat could end up working on other financial brands in the GE portfolio at a later stage. GE uses 490 as its creative agency.
Purple Loans offers secured loans and mortgages to people who experience difficulties obtaining them from mainstream lenders because of poor credit rating or employment history. First National is also a specialist lender with more than 2 million customers, but its products are available through intermediaries. GE also owns iGroup, a mortgage lender to people with poor credit history.
GE provides store card services to retailers, including Harrods, Dorothy Perkins and Laura Ashley. It also offers a range of insurance products in the UK.