Ranking of Personal Loan Providers Has Big Changes

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Never a lull at PYMNTS’ Research Center and Vendor Ranking Cafe, deep in a hidden mountain fortress whose location cannot be disclosed at this time. Or at any time. Hint: It’s hidden.

There, we sip coffee through masks (Halloween, not HEPA, at this point) and analyze player field data in this new update to the Personal Loan App Provider Rankings.

This ranking is usually quite sleepy, without much movement – ​​loan is serious business, after all.

There are always exceptions, however, and this month’s ranking is one of them.

The Top 5

No surprises as we open the SoFi app at #1, having added a record 523,000 new members in Q4 2021. You could say “SoFi, so good” if you thought you were funny.

The MoneyLion app has been booming at SoFi since its second place. Endurance is the key to ranking.

Still at No. 3 and not moving, the Avant app branched out into banking late last year.

Here with the Top 5 big dogs, we have the Upgrade app again at #4. After patiently conquering the Top 5, we didn’t expect any movement there.

This brings us to catwalk position #5, where we find that a new name has entered those hallowed ranks.

We welcome the PaySense app to the Top 5, taking 5th place.

Tea is at 4 p.m. sharp in the conservatory. You will hear the bandage gong.

Top 8

Personal loans may be our shortest ranking, usually with around eight applications in total. It’s because it’s not easy to reach the Top 8. You need courage, determination and loans.

One such winner is the LendingClub app, which moves up a spot to take sixth place this time around.

Meanwhile, the LendingTree is rooted at #7. No changes here.

Now we come to #8 where, to our surprise, we find that a new name has materialized.

It’s the Earnest app, coming out of nowhere to grab the eighth spot in the leaderboard. Well done, you.

This is the end of this edition of PYMNTS Personal Loan Application Provider Ranking.

You even have time to download one of these apps and borrow a few dollars.

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NEW PYMNTS DATA: THE FUTURE OF BUSINESS SUPPLIER INNOVATION STUDY – APRIL 2022

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On: While more than half of SMBs believe an all-in-one payment platform can save them time and improve cash flow visibility, 56% believe the solution could be difficult to integrate with AP systems and existing ARs. The Future Of Business Payables innovation report, a collaboration between PYMNTS and Plastiq, surveyed 500 SMBs with revenues between $500,000 and $100 million to explore how all-in-one solutions can exceed customer expectations. SMEs and help sustain their activities.

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