Case Study: Loaney increases loans 4x and improves onboarding with Powens

Loaney increases loans 4x with Powens

Loaney, a financial institution specializing in microloans, needed to optimize its loan processes to manage growth. The main challenges involved streamlining customer onboarding and identity verification, while also gaining real-time access to user financial data to assess creditworthiness and manage risk. Loaney also required instant payment capabilities for both disbursements and collections. They chose to partner with Powens to address these needs.

Powens provided a suite of services including account aggregation, instant payouts, and instant pay-ins. This allowed Loaney to automate onboarding and gain crucial financial insights. As a result of implementing Powens' solutions, Loaney increased its total number of loans by four times and multiplied its onboardings by five within a year. The company also saw payments from clients increase fourfold and its default rate decrease by eight to ten percentage points.

Loaney