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May 24, 2021

LendingTree gives users a holistic view of their finances

Mehreen Iqbal

In 2018, LendingTree occupied what, for many companies, would be an enviable position. With $50 billion in loans served, the Charlotte-based company was the nation’s largest online lending marketplace. But they weren’t satisfied.

From their perspective, the problem was one of engagement. “Most people only need a loan once every few years—or decade,” explains Bryce McAvoy, Senior Product Manager at LendingTree. “As a result, users were only returning to our site once or twice a year.”

To increase engagement, LendingTree decided to offer a wider array of financial services. By doing so, the company wagered, they could provide users a more holistic view of their finances, something which would cause them to return more often.

To power these new services, LendingTree needed to give users a way to share their financial data with them. And for that, they chose Plaid.