There is little doubt rapid innovation is occurring in the financial technology space. While a paradigm shift in financial services was already well underway, the COVID-19 pandemic is likely to exacerbate that shift. My role as CEO at SuperMoney has provided me with some insight into how things are evolving in the fintech space. Below are some of my predictions for the future of fintech.

Personal loan balances are growing at a fast rate. According to TransUnion data, unsecured personal loan balances reached a record high of $156 billion in 2019. It’s not just the loan amounts that are growing. The number of unsecured personal loans has grown from 16.9 million in 2016 to 22.5 million in 2019.

In the last two weeks, we have seen the two worst single-day drops in the history of the Dow Jones Industrial Average (DJIA). However, on Wednesday, the Dow also saw its best day since 1933, with a 13% rise. Did the stock market already hit bottom? Unlikely.

Best Egg to Integrate with SuperMoney’s Personal Loan Pre-qualification Platform

Building on the technology that powers SuperMoney’s leading marketplaces for personal loans, auto loans, auto loan refinancing, and business loans, we are proud to announce that SuperMoney has launched a modern marketplace that will help students make smarter decisions when shopping for student loan refinancing.

Knowing how to consolidate student loans from different lenders could help ease the burden of your student loan debt. Having a student loan payment can be stressful enough; having multiple loan payments is even worse.

After debuting its personal loan offer engine at Finovate in April 2017, SuperMoney unveiled today an automotive focused loan offer engine where its lending partners compete in real-time with customized auto loan offers.

It’s not something we like to think about, but life is full of unwelcome surprises. If you’re not prepared, even everyday surprises, such as a car breakdown, household repairs or a medical emergency could become full-blown financial disasters.

Payday lending is bad, right? That certainly seems to be the accepted truth and the force behind a significant portion of America’s consumer financial regulatory policy in the last few years.