Case Study: Lendable achieves 300% VRP growth with TrueLayer Pay by Bank

Lendable sees 300% growth in VRP usage with TrueLayer

The customer, Lendable, faced the challenge of providing a fast and frictionless repayment experience for its credit card users. To build finance that is fair and easy, they needed a solution that offered immediacy and simplicity, moving beyond their original limited payment options which were causing some customer friction. They turned to the vendor TrueLayer and its Pay by Bank service.

TrueLayer implemented its Pay by Bank solution, which provided instant payments and fewer failures, and later expanded the service with Variable Recurring Payments (VRP). The results were significant, including a 300% year-over-year growth in VRP usage. This led to major cost savings for Lendable from reduced interchange fees and less customer contact due to more successful payments. TrueLayer's data APIs also streamlined onboarding, lowering drop-off rates.

Lendable