Post One Year Relaunch, Eloan Delivers Greater Access to Financial Services in the U.S. and Is Recognized as One of the Top 25 Most Innovative Bankers from Fintech Americas
Eloan, an online financial services platform and subsidiary of Popular, Inc. [Nasdaq:BPOP], announced exceeding targets for the first quarter of 2019 and accelerated growth post its December 2017 relaunch. Over the last year, Eloan has attracted more than one million visitors and has originated over $90 million in unsecured personal loans. Eloan offers a simply smart origination process, where 96% of customer reviews describe their experience as excellent or great.
As a leading FinTech pioneer, Eloan Managing Director, Mariel Arraiza, was recognized as one of the top 25 most innovative bankers by FinTech Americas, which recognizes innovative and transforming banking projects in Latin America and the Caribbean. The firm’s efforts and leadership for transitioning its referral business model and reformulating the finances in the Americas to make them more inclusive, agile and focused on the client, made it stand apart.
"The past year has been about transformation. It is incredibly exciting and rewarding as more consumers embrace the agility and convenience offered in our banking experience. Our ability to deliver a smarter, simpler way to address their needs is resonating strongly,” said Mariel Arraiza, senior vice president of Eloan. “We are honored to be part of the 25 most transformative projects in banking, representing the category of strategic innovation. It is a great recognition of the hard work and commitment of our team, our partners and of all those who have supported us in the process of developing this new business model.”
Eloan’s promise is "Simply Smart". It is delivered through relevant content and calculators that lead to a very fast and friendly lending experience in partnership with Avant, a Chicago based FinTech company. The simple process attracts customers to express their satisfaction at the renowned Trustpilot.com review platform, resulting in an excellent Trustscore of 9.2 out of 10 and 5 stars of excellence.
Eloan is currently dedicated to serve the U.S. market, offering unsecured personal loans online up to a maximum of $35,000. The process is so simple and quick, that after submitting a request via eloan.com, the applicant is pre-approved, according to their credit profile, in less than 15 seconds. Plus, the loan disbursement is typically achieved within 24 hours.
Achieving a Fintech Américas recognition is an extremely rigorous process that is conducted by a panel of judges known to be world-class innovators. The awards will be presented at the Fintech Américas Bank Transformation Conference that will take place on Thursday, May 30th May at the Fontainebleau Hotel in Miami Beach.
In 2005, Popular acquired Eloan, a marketplace lender from Pleasanton California and one of the first FinTech companies in the US. Eloan is an online financial services platform that radically reduces the complexities of applying for personal loans. Eloan is a division of Banco Popular de Puerto Rico, based in San Juan and a wholly owned subsidiary of Popular Inc.-- a financial services leader with over 124 years of experience serving consumers in Puerto Rico, US, and the Virgin Islands.