This thing just does not change. It’s like watching grass grow. And yet these apps collectively command the mushrooming personal lending space, with quick decisions and API-fueled personalization that ensures loans to the eligible, along with ever-better user experiences.
Spare a few moments as we flit across another immoveable personal loan ranking.
The Top Five
You know it before we even say it. MoneyLion remains at No. 1, chasing off all comers with sharp algorithms and a load of cash raised in a SPAC (rather than via traditional IPO) this year.
At No. 2, it was and still is the SoFi app — fresh from its own IPO — and having acquired payments firm Galileo, Hong Kong’s 8 Securities and community bank Golden Pacific this year.
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The LendingTree app has put down roots at No. 3, where it stands firm for another cycle.
Avant is holding at No. 4, whose CEO recently doubled down on helping “near-prime” consumers whose subpar FICO-derived credit scores get no love from mainstream lenders.
Looking alive at No. 5 is the PaySense app, covering all of India and then some with app ease.
The Top 10
With the top tier taken care of, let’s see who’s aspiring to the Top Five. It’s a very short list.
At No. 6 for another month, we’ve got the Upgrade app, heavying up on mobile in 2021.
Once more at No. 7, it’s on-demand wage service provider FlexWage, taking us out.
Sometimes the Provider Ranking of Personal Loan Apps is a meal, and at other times, more of a snack. Either way, we’re just glad these apps exist to keep personal loans flowing.
See you next time. Maybe we’ll have more to discuss. Maybe not.
