LightStream Named Best Customer Satisfaction for Personal Loans by JD Power
In announcing the recognition, JD Power found that “a perfect storm of record unemployment, historically low interest rates and increased reliance on digital interactions is testing consumer lenders like never before … the Lenders’ ability to build trust and deliver Transparent and easy-to-use online tools during this time of heightened consumer anxiety will define their brands for many years to come. ”
“It is an honor to be ranked number one for customer satisfaction with personal loans,” said Mark Ford, executive vice president, general manager of LightStream. “The JD Power Award reinforces our continued commitment to innovate and deliver exceptional customer experiences.”
Among the main findings of the 2020 study, JD Power found that consumers primarily select lenders based on two key factors: repayment terms and reputation. Also, when it comes to receiving approval for a consumer loan, people prefer lenders who require few documents and offer an easy application process.
“Consumers are making it clear that lenders need to build trust in the brand and the lending experience,” said Jim houston, general manager of same day loans and automotive financial intelligence at JD Power. “To achieve this, lenders must provide secure, easy-to-use web-based tools and focus on aligning product offerings and terms with the specific needs of their clients during this difficult time.”
“The financial impact of the pandemic is unprecedented for many consumers, including people like our customers who have good credit,” Ford added. “As a digital company, LightStream understands that maintaining consumer confidence is more important than ever. We remain true to the “Customer First” values. Our streamlined loan approval and account management processes continually evolve to meet client needs – transparently, efficiently and securely. ”
The 2020 US Consumer Loan Satisfaction Survey measures overall customer satisfaction based on the performance of four factors: application and approval process; loan management; offer and conditions; and closing (HELOC, home equity line of credit only). The study, carried out in JanuaryFebruary 2020, is based on responses from 4,370 personal loan clients and HELOC.
For more information on the 2020 JD Power Award, visit: jdpower.com/awards
LightStream is a national online lending division of Truist. It offers flawless fixed rate unsecured loans for virtually any purpose to customers with good credit. Funding is available in all 50 states. Through a simple online process, funds can be provided the very day an application is submitted. Click on here for important disclosures, including a sample payment as well as same-day financing information, LightStream’s Rate Beat program and its $ 100 loan experience guarantee.
Truist Financial Corporation is a goals-driven financial services company committed to inspiring and building better lives and communities. With 275 years of combined BB&T and SunTrust history, Truist serves approximately 12 million homes with a dominant market share in many high growth markets in the country. The company offers a wide range of services, including retail banking, small business and commercial banking; asset Management; capital markets; commercial real estate; corporate and institutional banking; Insurance; mortgage; Payments; specialized loans and wealth management. Based in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the United States with total assets of $ 504 billion in June 30, 2020. Truist Bank, member of the FDIC. Learn more about Truist.com
SOURCE Truist Financial Corporation