Personal loan

Latest ranking changes for personal loan providers

It’s an expensive world. Recent research from PYMNTS has found that a large number of high-income people from younger demographic groups live paycheck to paycheck to paycheck, for example.

This is where personal loans can come in, with useful bridge financing.

Pretty self-explanatory when you think about it. But not all applications are at the same level of excellence that we demand with PYMNTS ‘ Ranking of personal loan application providers.

With that in mind, we now take you to the leaderboard. Lend an ear (or eyeball) as we go through this briefest of the PYMNTS supplier rankings, which has the amazing attribute of hardly ever changing.

“Almost never,” we said. Remember this.

The Top 5

Right off the bat, we have a change from last month, and it’s a big change.

Raising a spot to take the vaunted No.1 position in the leaderboard this cycle is the Silver Lion app, which announced a combination with Fusion in September to form MoneyLion Inc.

Conversely, dropping a place is the SoFi app, now at # 2. No tears needed as new public company SoFi expands, acquiring payments company Galileo, diversifying internationally through purchase of 8 securities in Hong Kong and community bank Golden Pacific in the first trimester.

This is where the excitement ends, as we resume our regular loan application order.

At n ° 3 it is To improve, which just added a Buy It Now, Pay Later (BNPL) feature with a product that allows users to pay off their debt in four months.

Sitting pretty at n ° 4 is Before, whose CEO recently said nice things about near-prime borrowers.

Rooted in place at n ° 5 for one more cycle, it is the Loan tree app, providing smartphone access to its large online loan market.

The Top 10

Things get pretty straightforward from here on out, as regular readers of the Ranking of personal loan application providers are probably aware.

At n ° 6 for another cycle, it is the PaySense app, serving borrowers primarily in India.

In order not to throw unnecessary curve balls, we always have the SalaryFlex app at # 7, whose main product is WageBank, allowing employees to access earned wages via a debit card.

No wonder they never fail to plot. It is a personal loan product that most of us can appreciate.

And it’s a wrap. Fast and easy, just like personal loans should be.

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NEW PYMNTS DATA: AUTHENTICATION OF IDENTITIES IN THE DIGITAL ECONOMY – DECEMBER 2021

On:More than half of American consumers think biometric authentication methods are faster, more convenient, and more reliable than passwords or PINs, so why are less than 10% using them? PYMNTS, working with Mitek, surveyed more than 2,200 consumers to better define this perception gap from usage and identify ways in which businesses can increase usage.


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