Regions Bank to deliver extensive online consumer lending experience through leading FinTech company Avant


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BIRMINGHAM, Alabama – (COMMERCIAL THREAD) – Regions Bank and online lending platform Avant today announced an agreement to provide Regions Bank customers with a streamlined online consumer loan application and underwriting experience. The unique deal will combine Regions’ established banking and online presence at www.regions.com with Avant’s technology platform to deliver a fast and convenient digital experience for clients seeking consumer loans.

“By working with Avant, we will be able to deliver a better online experience, while maintaining our commitment to responsible lending – something that benefits clients, the community and our shareholders,” said Logan Pichel , Executive Vice-President and Head of Consumer Loans for Banque des Régions. “Regions is thrilled to combine its expertise in traditional bank services and lending with a trusted and proven FinTech leader like Before. ”

The Regions / Avant co-branded loan application process will be available during the second half of 2016. Clients can apply for an unsecured personal loan through AvantPlatform on the Regions website – http://www.regions.com. Applicants are assessed and receive an immediate credit decision, followed by automated verification steps for final approval. The loan amount ranges from $ 1,000 to $ 35,000 and many applicants can access the funds as early as the next business day.

Avant is a marketplace lending platform dedicated to creating innovative and practical financial products for all consumers. Using its unique and highly personalized approach to streamlined lending options, Avant has issued more than 500,000 loans globally through its online platform since 2012.

“Our agreement with Regions demonstrates how forward-thinking banks and market lending platforms can work together to meet consumer needs,” said Al Goldstein, CEO of Avant. “With this agreement, we can provide responsible access to credit to a new demographic of borrowers. The technology offered by AvantPlatform has the power to be a game-changer in the banking industry.

About the Regions Financial Company
Regions Financial Corporation (NYSE: RF), with $ 126 billion in assets, is a member of the S&P 500 Index and is a leading full-service provider of commercial and consumer banking, wealth management, mortgage and insurance products and services. . Regions serves customers in the South, Midwest and Texas and, through its subsidiary, Regions Bank, operates approximately 1,630 bank offices and 2,000 ATMs. Additional information about Regions and its full range of products and services is available at www.regions.com.

About Avant
Avant is a fast growing market lending platform that lowers costs and barriers to borrowing for consumers. Through the use of big data and machine learning algorithms, the company offers a unique and highly personalized approach to streamlined lending options. At its core, Avant is a technology company dedicated to creating innovative and practical financial products for all consumers. To date, Avant has secured more than $ 1.7 billion in funding and an additional $ 1.8 billion through its institutional market. Over 500,000 loans have been issued worldwide through the Avant website. Avant operates as AvantCredit in the UK and Canada. Avant has been featured in publications such as The Wall Street Journal, The New York Times, TechCrunch, Fortune, Bloomberg and Crain’s Business in Chicago. In 2015, Avant was appointed to Forbes List of America’s Most Promising Companies as well as Forbes list of startups of the next billion dollars. Learn more at www.avant.com. Unsecured loans issued through the Avant platform at www.avant.com are made by WebBank, an industrial bank in Utah.

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