Created:

2017-01-09

New Data on Online Lending Industry in 2016 (Even Financial), Rated: A

The following data includes borrower behavior on choosing a loan, average loan size by credit score, conversion rates, average time to fund, top platforms and loan performance. Some key data points include:

  • Over ⅓ of borrowers choose the originator with the fastest funding times, not the originator with the lowest APR
  • The top 4 originators with the fastest funding times also have the highest take rates (percentage of borrowers who ultimately accept the loan offer once the borrower is approved), which is between 20-30%
  • Average time to fund a loan is 4.55 days
  • The average loan size is:
    • Excellent Credit – $15,684
    • Good – $10,928
    • Fair – $9,765
  • Borrowers sourced via “inorganic channels” (display ads, performance marketers, etc.) have a 30% higher default rate within the first 3 months

Click here to view this story on LendingTimes.

Disclaimer: The material provided on this site is not intended to provide legal, investment, or financial advice or to indicate the suitability of any Even Financial product or service to your unique circumstances. For specific advice about your unique circumstances, you may wish to consult a qualified professional. Any information or statistical data sourced by Even Financial through hyperlinks, from third-party websites, are provided for informational purposes only. While Even Financial finds these sources to be accurate, it does not endorse or guarantee any third-party content

Proven Scale & Trust

$400B+

in consumer applications for financial services

75M+

consumer profiles generated

3 Million+

applicants routed monthly

WHAT OUR PARTNERS ARE SAYING

Building meaningful, long-lasting relationships

"... generating some of the highest approval rates and conversion rates among our online acquisition partners. The transparency and focus on data have allowed us to drive consistent growth and success each month. "

"... a streamlined consumer experience, helping millennials with no collateral, budget, or saved money. Even’s impressive matching algorithms simplify the process of finding the best personal loans to meet your needs."

"... a truly modern and easy to use platform for the financial services marketing world. They make it easy to develop consumer friendly, innovative products in a space dominated by legacy platforms."

"... Their wide-reaching network and tech integrations bring in qualified, high-converting leads, and their team has been a pleasure to work with."

"... generating some of the highest approval rates and conversion rates among our online acquisition partners. The transparency and focus on data have allowed us to drive consistent growth and success each month. "

"... a streamlined consumer experience, helping millennials with no collateral, budget, or saved money. Even’s impressive matching algorithms simplify the process of finding the best personal loans to meet your needs."

"... a truly modern and easy to use platform for the financial services marketing world. They make it easy to develop consumer friendly, innovative products in a space dominated by legacy platforms."

"... Their wide-reaching network and tech integrations bring in qualified, high-converting leads, and their team has been a pleasure to work with."

Kyle Taylor
CEO

Awards

Press

Even Ranked Top 50 in the Deloitte Technology Fast 500
DELOITTE
Even Ranked Top 50 in the Deloitte Technology Fast 500
Even is ranked within the Top 50 on the Deloitte Technology Fast 500, a prestigious list that ranks the fastest-growing technology and life sciences companies in North America. To see the full list of winners click the button below. 
A Fintech Conversation With Even Financial and TransUnion
BENZINGA
A Fintech Conversation With Even Financial and TransUnion
Even CEO/Founder Phill Rosen recently sat down for a conversation with our enterprise partner TransUnion’s SVP, Chief Product Officer Hilary Chidi and Benzinga Staff Writer Spencer Israel to discuss the current state of fintech, the impact of COVID, and more...  You can watch the video here: Click Here Click below to read an article about the learnings from the conversation. 
Even has won the Data Innovation Award from the 2020 TearSheet Data Awards
TEARSHEET
Even has won the Data Innovation Award from the 2020 TearSheet Data Awards
On June 8th, 2020, TearSheet announced the winners of the 2020 TearSheet Data Awards, and Even won the Data Innovation Award. They said: “Even is moving the financial services industry from an era of customer acquisition based on mismatched static ads, to one where more personalized offers are matched to consumers in real time.”