Avant Overview
Avant, operating as a financial technology platform, is not a bank but an innovative service provider that offers access to personal loans and credit cards through a fully online process.
What Avant Does
Avant is designed to simplify the borrowing process, eliminating the need for physical branches and extensive paperwork associated with traditional banking. The platform uses proprietary technology to provide personal unsecured loans and credit cards, making it easier for individuals to obtain credit quickly and efficiently.
Key Features and Functionality
Proprietary Technology
Avant employs advanced algorithms, machine-learning protocols, and analytical tools to determine an individual’s creditworthiness. This technology allows for customized loan rates, amounts, and repayment terms based on a comprehensive evaluation of the borrower’s financial profile.
Online Application and Funding
The entire application process is conducted online, enabling customers to apply for loans and credit cards from the comfort of their own homes. Once approved, funds are typically deposited via ACH for delivery the next business day, if approved by 4:30 PM CT Monday through Friday.
Institutional Marketplace
Avant has established the Avant Institutional Marketplace, which allows institutional investors to purchase loans originated through Avant’s platform. This arrangement helps diversify funding sources for Avant, ensuring a stable and robust financial ecosystem.
Customer-Friendly Process
Avant aims to provide a streamlined and user-friendly experience. The platform avoids the high interest rates and stringent requirements often associated with payday loans and traditional banking, offering a more accessible and friendly customer service experience.
Security and Efficiency
The use of advanced technology ensures efficient mitigation of default risk and fraud. The platform is designed to handle employment verification and funding entirely over the internet, making the borrowing process both secure and efficient.
Conclusion
In summary, Avant is a cutting-edge financial technology platform that leverages advanced algorithms and machine learning to offer personalized loan and credit card solutions through a convenient, entirely online process. Its key features include rapid application and funding, proprietary creditworthiness assessment, and a customer-friendly approach to borrowing.