Consumers want a robust mobile platform for their personal loans.

Driven by higher total employment and median household incomes, personal loans are expected to continue rapid growth in 2018 after a near 132% increase from 2012. While megabanks, fintechs and alternative lenders continue to increase their share of the personal loan market, TransUnion expects to see more activity in this space by both banks and credit unions as a competitive reaction. The challenge is that loan products tend to all look the same, leaving credit unions with very little to compete on.

That’s changing.

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