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LightStream Named Best in Customer Satisfaction for Personal Loans by J.D. Power

CHARLOTTE, N.C., Sept. 15, 2020 /PRNewswire/ -- LightStream announced today that the company has earned the number one ranking in customer satisfaction among personal loan providers in the J.D. Power 2020 U.S. Consumer Lending Satisfaction Survey. After evaluating the overall consumer lending space, J.D. Power awarded LightStream the highest spot based on several key factors including offerings and terms; application and approval; and loan management.

In announcing the recognition, J.D. Power found that "a perfect storm of record-high levels of unemployment, record low interest rates and increased reliance on digital interactions is putting consumer lenders to the test like never before…lenders' ability to build trust and provide seamless, easy-to-use online tools during this heightened period of consumer anxiety will define their brands for many years to come."

"It's an honor to be rated number one in Customer Satisfaction with Personal Loans," said Mark Ford, executive vice president, GM at LightStream. "The J.D. Power award reinforces our continuing commitment to innovate and deliver an outstanding consumer experience."

Among the key findings of the 2020 study, J.D. Power found that consumers are primarily selecting lenders based on two key factors: repayment terms and reputation. Additionally, when it comes to receiving approval for a consumer loan, people prefer lenders who require few documents and offer an easy application process.

"Consumers are making it clear that lenders need to foster trust in the brand and the lending experience," said Jim Houston, managing director of consumer lending and automotive finance intelligence at J.D. Power. "To accomplish that, lenders need to provide secure, easy-to-use web-based tools and focus on aligning product offerings and terms to the specific needs of their customers during this challenging period."

"The financial impact of the pandemic is unprecedented for many consumers, including people like our customers who have good credit," Ford added. "As a digital business, LightStream understands that maintaining consumer trust is more important than ever. We remain true to 'Customer First' values. Our streamlined loan approval and account management processes continually evolve to meet customer needs--transparently, efficiently and securely."

The 2020 U.S. Consumer Lending Satisfaction Survey measures overall customer satisfaction based on performance in four factors: application and approval process; loan management; offering and terms; and closing (HELOC, Home Equity Line of Credit only). The study, fielded in January-February 2020, is based on responses from 4,370 personal loan and HELOC customers.

For J.D. Power 2020 award information, visit: jdpower.com/awards

About LightStream
LightStream is a national online lending division of Truist. It delivers unsecured, fixed-rate loans with no fess for practically any purpose to good-credit customers. Financing is available in all 50 states. Through a simple online process, funds can be provided as soon as the same day an application is submitted. Click here for important disclosures, including a payment example as well as information on same day funding, LightStream's Rate Beat Program and its $100 Loan Experience Guarantee.

About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspire and build better lives and communities. With 275 years of combined BB&T and SunTrust history, Truist serves approximately 12 million households with leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending and wealth management. Headquartered in Charlotte, North Carolina, Truist is the sixth-largest commercial bank in the U.S. with total assets of $504 billion as of June 30, 2020. Truist Bank, Member FDIC. Learn more at Truist.com

SOURCE Truist Financial Corporation

For further information: MediaRelations@LightStream.com
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