Personal loans are the fastest growing segment of consumer debt.

Personal loans present a tremendous opportunity for financial institutions.

The personal loan market has experienced significant growth over the past ten years. The growth of these loans, accelerated by the pandemic economy, means more consumers are seeking alternatives to credit cards and payday loans. This could mean bottom-line benefits for institutions willing to:

  • Use consumer data
  • Challenge traditional views about personal loans
  • Examine their digital experience

Download this white paper to learn more about the current state of personal loans and how financial institutions can position themselves to serve growing consumer demand.

 

Source: Lending Tree, Personal Loan Statistics, January 2020