Which P2P lending platforms have their own apps?
EasyMoney launched its first app in response to lender demand last month, citing research which found that many younger investors choose their providers based on the quality of their mobile apps.
They are just the latest peer-to-peer lending platform to prioritise mobile banking. Increasingly, P2P lenders are launching into the mobile app space, using new technology such as open banking to make the user experience as intuitive as possible.
Here, Peer2Peer Finance News summarises all the UK-based P2P lenders with mobile apps, in alphabetical order.
Crowd2Fund
Crowd2Fund launched on Apple’s App store in 2016 to allow lenders to track and manage their investment portfolio on the go.
In 2018, the P2P business lending platform relaunched the app to include Innovative Finance ISA (IFISA) management features for investors.
EasyMoney
Last month, EasyMoney launched a new app for lenders, which is available now on both Apple and Android devices.
The platform said the app has open banking integration, at-a-glance account details, investing, withdrawing and a quick sign-up process for new investors who may be accessing the platform for the first time through a mobile device.
Elfin Market
In March 2021, the P2P consumer lending platform introduced an app for Apple and Android smartphones.
Investors can monitor their returns and set up an IFISA while borrowers are able to make withdrawals and manage credit limits.
Funding Circle
Funding Circle has been in app stores for quite some time. The platform, which said last month that it plans to review its retail P2P lending business in June, launched an iPhone app in 2015 and an Android mobile app in 2018.
Both apps are for investors and allow them to check how their portfolio is performing and view their account summary.
JustUs
JustUs went live on its Moneybrain app in February 2020.
Moneybrain is a sister company of JustUs which compares different financial products, including P2P platforms. It also has its own cryptocurrency, BiPS.
Kuflink
The P2P property lending platform launched an app in December, which is available on iOS and Android, to allow its lenders to access its features on a mobile or tablet.
This followed nine months of testing and improving its capabilities after launching a beta version of the lender app in March.
LendingCrowd
LendingCrowd introduced an app for investors way back in 2015.
Lenders can receive notifications of when they are outbid and when a bid is accepted as well as viewing their whole investment portfolio.
Prodigy Finance
The platform which specialises in postgraduate student finance, has an app that allows investors to track their loan information on the go.
Lenders can check their funds, balances, payment options, status of payments, set up auto debit when paying from an eligible bank account, use a calculator for better budgeting and are able to get help from the platform’s payments team.
Rebuildingsociety
In July 2020, Rebuildingsociety launched an app which is available from both Android and iOS app stores. It allows both existing and new investors, once they complete an appropriateness test, to manage their portfolio, access funds, withdraw money, purchase new loans and sell loans on the secondary market.
The app also features a chart where investors can see a breakdown of how much cash they have, how much they’ve invested and how their loans are performing. as well as a repayment calendar to show lenders what income they are going to receive and when.
Zopa
Zopa has an app for Android and Apple devices that allows users to stay on top of their Zopa loan, credit card, savings account or investment.
It also contains the platform’s ‘borrowing power’, a unique tool which personalises actions to help customers improve their credit score, enabling them to borrow at a lower rate.