CHARLOTTE, N.C., June 2, 2015 — LendingTree, a leading online loan marketplace, has expanded its personal loan lender network to include emerging innovator Ascend Consumer Finance. Ascend's proprietary Adaptive Risk Pricing technology assesses several different credit factors each month for its borrowers and adjusts loan pricing as the borrower's risk profile changes.
Ascend's RateRewards product was recognized at this year's Lendit Conference, and the company was a finalist in the Financial Solutions Lab at the Center for Financial Services Innovation with founding partner JPMorgan Chase for its ability to help non-prime borrowers earn a better rate and develop better financial habits. Ascend Consumer Finance will compete alongside the traditional and alternative lenders who are already part of the LendingTree personal loan network, offering even more competition and loan options for borrowers.
"We're continuing to see innovation in lending that has the potential to massively impact financial services," said Doug Lebda, founder and CEO of LendingTree. "We want to arm borrowers with the best options available. We're excited to welcome Ascend to the network and hope to grow our network with even more lenders who leverage data and technology to provide a better customer experience."
"As a new company who wants to reach borrowers, we need to go where borrowers are," said Scott Crawford, VP Product and Marketing at Ascend Consumer Finance. "LendingTree's innovative lender marketplace broke new ground by empowering borrowers through customer choice. We're thrilled to be part of that choice array and further empower borrowers by enabling them to earn a dramatically lower interest rate."
For lenders interested in joining LendingTree's lender network, please visit: www.lendingtree.com/about/partner-with-us/register. For consumers looking to shop for personal loans on LendingTree, visit: https://www.lendingtree.com/personal-loans-index
About Ascend Consumer Finance
Ascend believes that a less than perfect credit score shouldn't lock you into a high interest rate. The company's pioneering product, RateRewards, enables borrowers to earn up to 50% off their interest expense by making responsible financial choices throughout the life of their loan. Through proprietary technology called Adaptive Risk Pricing, Ascend is able to offer loans at rates that reflect real-time performance instead of past behavior. Based in San Francisco, the Ascend team has significant experience in consumer lending, data analytics, and consumer technology. The company is funded by Mucker Capital, OCA Ventures and the venture arm of Securian Financial Group. Learn more at www.ascendloan.com.
LendingTree (NASDAQ: TREE) is a leading online loan marketplace with one of the largest lender networks in the nation, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 35 million loan requests. LendingTree provides access to lenders offering home loans, personal loans, student loans, personal loans, business loans, home equity loans/lines of credit, auto loans and more. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information go to www.lendingtree.com , dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.