P2P LendingKasasa Wins Best Consumer Lending Platform at Inaugural Finovate Awards

Kasasa recognized for reinventing consumer lending
BusinessWire BusinessWire3 weeks ago176 min

Kasasa®, an award-winning financial technology and marketing provider, was awarded Best Consumer Lending Platform for its Kasasa Loan® at the first-ever Finovate Awards. This award recognizes a financial institution that excels in the field of consumer lending by offering quality products and an exceptional digital experience.

With more than 10 years of pioneering financial and banking technology, Finovate created the inaugural Finovate Awards to bring together the best-of-the-best in the financial services industry, recognizing credit unions, banks, fintech firms and individuals with unique and innovative solutions. The Finovate Awards were created with a diverse group of judges and 19 categories aimed to highlight innovative financial institutions, products and people from across the industry.

The Kasasa Loan is an innovative product that allows financial institutions to grow while creating value for their borrowers and providing an innovative lending experience. It features a new concept called “take-backs™,” which allows the borrower to pay ahead to reduce debt, but take that extra back if they need it, making it the most consumer-friendly loan available on the market today. In fact, Kasasa Loans are preferred by nine out of ten consumers over comparably priced loans, and according to a recent consumer survey, more than 50 percent of consumers would open a checking account and 98 percent would refinance existing debt at the same rate in order to get a Kasasa Loan with the take-back feature.

Additionally, the Kasasa Loan comes with a mobile-friendly dashboard and app, allowing borrowers to manage their debt by showing them the status of their loan in seconds. It empowers the borrower by showing them the impact of payment changes before they make them, providing them more control and enabling them to make better financial decisions. This unprecedented control and transparency keep borrowers engaged, with 85 percent of consumers saying they would use the dashboard monthly.

“When we started Kasasa, we were one small company with a dream to change the face of lending. Back then, we never could have predicted we’d be among companies across all of fintech globally, let alone named a winner,” said Gabriel Krajicek, CEO of Kasasa. “Being honored with the inaugural Finovate Award for Best Consumer Lending Platform is a testament to our hundreds of teammates who worked tirelessly, and continue to do so, to make our dream a reality. Thanks to them, countless people will be able to enjoy the magic and flexibility of the Kasasa Loan.”

Kasasa was also a finalist for Finovate’s Best Customer Experience for its nationally branded reward-based accounts. By offering Kasasa’s customizable, high-interest accounts, community financial institutions successfully drive new account growth, encourage account holder engagement and increase profitability as well as compete and win against the industry’s big financial institutions.

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