Case Study: OppLoans boosts loan application conversions with Sphere Partners

OppLoans reduces registration from 5 pages to 3 with Sphere Partners

OppLoans, a socially responsible online lender for credit-challenged consumers, was experiencing a high application drop-off rate due to a cumbersome, five-page bank verification process. To address this challenge, they partnered with vendor Sphere Partners to streamline the user experience and improve conversions.

Sphere Partners integrated the Plaid platform to enable real-time bank verification and authentication directly within the application. This solution collapsed the registration flow from five pages to three, significantly reducing mid-application abandonment. As a result, OppLoans saw an increase in application conversions and incremental revenue growth following the deployment.

OppLoans