Personal Loan App Provider Ranking Sees New Leader MoneyLion Roar to Top

There’s only one change of position in PYMNTS’ latest Provider Ranking of Personal Loan apps, but it’s a big one — there’s a new leader.

Last month’s leader and runner-up have traded positions this time around. Other than that, the remaining five contenders hold the same positions they held last time.

Some of the gaps between contenders have narrowed, though, and there are three contenders within three points of each other.

As is the case every month, the scoring factors used in the ranking include channel coverage, up-to-date downloads, monthly average users, sessions per user and average session length.

Now, let’s take a closer look and see what kinds of scores the contenders qualify for.

The Top Five

The new leader this month is MoneyLion, which roars to the top with a score of 98 after being ranked second last time around.

Swapping places with that contender is SoFi. With a score of 92, this app drops back one position and is this month’s runner-up.

After a 12-point gap in the field, there’s the next competitor. Avant holds onto the No. 3 spot with a score of 80.

Also keeping the position it held last time is Upgrade. This app is ranked fourth with a score of 75.

Just one point behind that with a score of 74 is PaySense. This app is running fifth as it did last time but has narrowed the gap.

The Top 10

Also running in this tightly-spaced part of the field is LendingClub. This app is just two points behind the competitor in front of it and, with a score of 72, keeps its grip on the No. 6 position.

Further back in the field is LendingTree. This app has achieved a score of 41 and closes out this month’s edition of the Provider Ranking of Personal Loan apps.