Personal loan application ranking a puzzle
Personal loans take many forms these days and using apps to get them is our favorite.
Why? This should be obvious as this is the PYMNTS provider ranking of personal loan applications. It’s just the way we do things here. And while this is our most compact ranking (it averages about seven apps), they represent the cutting edge of digital lending.
Let’s see what has happened since last month.
The Top 5
In a leaderboard that sees little month-to-month movement, this latest update is a doozy.
For example, while one app has dominated this leaderboard for months, there’s a new # 1 this cycle. It’s the SoFi app that climbs two places to become the new top app here.
The MoneyLion app, which just announced that it will trade cryptos with its exciting news about its IPO this month, is dropping a spot at No.2.
At No.3 is the Upgrade app, down one spot in the rankings but up in terms of valuation, which hit $ 3.3 billion after its Series E fundraiser in August.
No change to n ° 4 because Avant keeps its usual place warm.
Rooted in place at # 5, it’s still LendingTree, which connects borrowers to multiple lenders in its online lending marketplace.
The Top 10
Below the Top 5 row in the ranking of personal loan application providers, it clears up considerably.
Only two apps are listed here, but that’s not unusual at all.
And they haven’t changed their position since the last cycle, which makes it all very simple.
Keeping its # 6 spot for another cycle, we have PaySense.
Another consistent ranking at # 7 as the FlexWage app remains stable as usual.
We said it was a “compact ranking” and we stuck to it. Take this information and go make some money. Or borrow some.