MoneyLion retains top spot in lending app rankings
The status quo was the theme among applications from personal loan providers, in the last reading of PYMNTS… at least for the most part.
At least if you look at the top five contenders.
The Top 5: the song remains the same
MoneyLion retains its top spot in our new ranking of personal loan application providers, although we notice that the gap between the leader and the second place contender has narrowed a bit. SoFi has moved up several points between reports, coming in just behind MoneyLion with a tally of 97, down from 92 last time out.
Avant, like last time, is 12 points behind, with 85 points at No. 3.
Upgrade dropped three points but held on to fourth place with a 75-point standings.
PaySense completes the top five once again, which has risen from last month’s score of 75 to a recent 67.
A bit of jockeying “below” the top five has seen some names change places – and some scores have also been markedly recalculated.
LendingTree replaced LendingClub this time around, coming in at No. 6. LendingClub landed in seventh place, but suffered a precipitous drop from 72 to 39.
One thing is certain in the ranking of personal loan providers: changes, when they occur, can be dramatic – and the top of the heap can be anything but sure, month to month.