Press
WILMINGTON, DE – June 8, 2020 – Marlette Funding, LLC, developer and operator of the Best Egg consumer-lending platform, has added Direct Pay capabilities for customers to help pay off credit card debt faster. Direct Pay will be available to qualified personal loan applicants and the new feature gives Best Egg customers the option to have funding directly applied to their credit card accounts to help minimize their debt.
The feature was added to address the 80+% of Best Egg customers who select debt consolidation as their purpose when applying for a loan. Nearly 70% specify their loan would pay down credit card debt. Now with Direct Pay, the Best Egg platform has streamlined the payment process by removing any additional steps customers would have to take to use funds to pay off credit card debt.
“Direct Pay is another opportunity for Best Egg to better meet the needs of our customers,”said Jeffrey Meiler, Chief Executive Officer of Marlette Funding. “For those who take advantage of the new feature, they may have the opportunity to obtain higher loan amounts at lower rates. Additionally, we are removing one of the hurdles customers face when paying off debt, so it’s a win on multiple fronts.”
The new Direct Pay capability is the second addition to the Best Egg consumer-lending platform that Marlette Funding has announced so far this year. The company recently announced a new secured loan product, the Nested Loan. Over the next two years, Marlette plans to utilize the platform’s scalable infrastructure to introduce more products and loan features that help remove friction from the consumer-lending experience, including the launch of an innovative new credit card.
About Marlette Funding
Marlette Funding, LLC., the developer and operator of the Best Egg consumer-lending platform, is a financial technology provider on a mission to find better ways to make money accessible to help people achieve their goals and enjoy life. The team mixes decades of banking experience with deep customer knowledge and smart technology to deliver digital products, services and experiences in a more relevant way. The Best Egg platform provides a frictionless online personal loan experience where qualified applicants can instantly view loan offers with no impact to their credit score, and if approved receive funds in as little as 1 business day. Since March 2014, the online loan platform has delivered over $10B of prime loans with strong credit performance. For more information, visit Marlette Funding or Best Egg.