Folks responsible for lending probably tend to be cautious. You could say the same for the latest edition of PYMNTS’ Provider Ranking of Personal Loan Apps, as all eight contenders hold the same position they held last month.
As with PYMNTS’ other Provider Rankings, this monthly scoreboard for personal loan apps lists the contenders ranked based on the score they’ve earned with channel coverage, up-to-date downloads, monthly average users, sessions per user and average session length.
Now, let’s see what the due diligence has uncovered.
The Top 5
Still at the head of the pack is SoFi. With a score of 97, this app is five points ahead of the nearest competitor.
Also holding its position MoneyLion. This app is ranked second with a score of 92.
Running in third place, as it did last time, is Avant. This app checks in this month with a score of 85.
Hanging on tight to the No. 4 position is Upgrade, this time with a score of 80.
Continuing the trend, PaySense retains its spot in the rankings — fifth — this time earning it with a score of 77.
The Top 10
Nine points behind is LendingClub. With a score of 68, this app holds on to the No. 6 spot.
Further back in the pack is LendingTree. This app keeps the seventh level in the rankings with a score of 41.
Rounding out the list this month is Earnest. With a score of 28, this app is again ranked No. 8 in this edition of the Provider Ranking of Personal Loan Apps.
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