BOSTON, March 15, 2022 /PRNewswire-PRWeb/ — Mercator Advisory Group released a report on installment loan trends titled Installment loans: Fintechs gaining ground in the loan forecast in $212 billion. The research explains the state of consumer credit in installments in the United States and how fintechs and finance companies are now outperforming banks and credit unions in installment loans. Additionally, this research examines how companies offer integrated financial products like CCaaS to allow customers the ability to offer their own credit card product. Through four evaluation criteria, general advice is provided for those seeking a relationship with a fintech provider.

“Banks used to dominate consumer lending, with installment loan products at much lower prices than credit cards, but that’s not the case anymore,” he says. brian riley, director of the credit practice at Mercator Advisory Group and author of the research report. “Buy Now Pay Later (BNPL) was a wake-up call for credit card issuers. BNPL was a recast of a trade finance model used long ago by companies like GECC (now Synchrony) and Household Finance Corporation (acquired by Capital One) Now fintechs are moving in the same direction with installment loans,” says Riley.

Highlights of the research note include:

  • US consumer debt trends
  • Fintech and financial company trends versus financial institutions
  • Why banks and credit unions should define the consumer lending space, not follow fintech trends
  • Strengths, weaknesses, opportunities and threats for established banks and fintechs
  • Comparison of installment and revolving loan products
  • Consumer survey data on installment loan users and top fintech lenders

This document contains 28 pages and 9 annexes.

Companies mentioned in this research note include: Acima Credit, Affirm, American Express, Avant, Bankrate, Blend Labs, Bread, Capital One, Citi, Discover, Equifax, Experian, FIS Global, FICO, Fiserv, GECC, HFC, JPMorgan chase, jack henryKlarna, Lending Club, LightStream, Mastercard, NerdWallet, Opportun, Prosper, Regions Bank, Rocket Companies, SoFi, Synchrony, TSYS, Truist, TransUnion, Upgrade, Upstart, Visa, Wells Fargo, Worldpay, Zopa

Members of Mercator Advisory Group’s Credit Counseling Service have access to this report, as well as upcoming research for the coming year, presentations, analyst access and other membership benefits.

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About the Mercator Advisory Group

Mercator Advisory Group is the leading independent research and advisory services firm focused exclusively on the banking and payments industries. We provide pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world’s largest issuers, acquirers, processors, merchants and payments associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online banking and payments news and information portal.

Media contact

karen yetterMercator Advisory Group, 781-419-1700, [email protected]


SOURCE Mercator Advisory Group