LendingTree Unveils Reimagined Customer Experience

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Jul 12, 2022, 09:35 ET

The Storied Fintech Company Debuts New Suite of Tools to Help People Win Financially

CHARLOTTE, N.C., July 12, 2022 /PRNewswire/ -- Doubling down on its legacy of empowering consumers to make smarter, more informed financial decisions, LendingTree, the largest, most experienced financial marketplace for loans, credit cards and insurance, today announced a new commitment to a completely reimagined customer experience for anyone actively involved in improving their personal finances. To support the new experience and re-introduce the LendingTree brand to American consumers, the company is launching an omni-channel marketing campaign, refreshing the brand's ubiquitous tagline that was originally inspired by the words of a customer over two decades ago: "When banks compete, you win!" The new tagline is now updated to better reflect the full suite of financial services offered through the expanded marketplace, but keeps the emphasis on giving consumers the power to win financially.

LendingTree Unveils Reimagined Customer Experience

Having facilitated $260 billion in loan funding and helped more than 111 million customers obtain financing, save money and improve their financial health, LendingTree has been a pioneer in online financial services since the company served its first customer in July 1998, almost exactly 24 years ago. The new brand positioning and redesigned experience comes after months of extensive research and listening to tens of thousands of consumers about their experiences to better understand and address the financial needs of Americans today. According to LendingTree research, 83% of credit cardholders are feeling the negative effects of inflation on their monthly budgets and expenses, forcing many to rely on financing to make ends meet. Nationally, rising APRs are causing new mortgage payments to increase by an average of over $250 per month, or more than $100,000 in interest over the lifetime of the loans. In a new survey by LendingTree, 70% of Americans believe a recession is looming, yet more than two-thirds (68%) of Americans don't feel financially prepared for one.

However, it's not all bad news. LendingTree also found that shopping around for a mortgage and choosing the lowest offer could save borrowers an average of $63,151 over the lifetime of the loan, as offered interest rates can vary greatly by lender – even more so in a rising rate environment. A separate analysis found that using a personal loan to pay down credit card debt can boost one's credit score substantially - an average of 38 points between the month before the loan was originated and when it first appeared on their credit report.

"In this new post-pandemic environment of inflation and economic uncertainty, making smart financial decisions has become increasingly complex. Through our research, we know people are facing unprecedented anxiety about their money and want guidance from established brands they can trust, which is why LendingTree is recommitting to its brand promise," said Shiv Singh, LendingTree Chief Marketing and Customer Experience Officer. "Consumers aren't simply looking for a loan, new insurance policy or a savings account — they want a trusted, dependable advisor who is there from start to finish, empowering them with the right advice, the right tools and the right resources needed to make financially sound decisions in every stage of their life."

The enhanced customer experience sets up customers for financial success through:

Redesigned homepage: The website's all-new homepage places rates at the forefront and makes it easier to see LendingTree's product offerings, while also emphasizing the hundreds of guides and expertise published by the company's trusted editorial team.
Tailor-made journey: Using real-time customer feedback within the experience helps to customize the journey based on customer needs. Featuring easily digestible language centered around transparency, educational content and support throughout the journey, the new customer experience highlights offers based on needs and presents the information that is most relevant to the user in easily digestible formats.
All-new Insurance Check-up: LendingTree is offering all Americans free Insurance Check-Ups to ensure they have the best rates and policies available during this tougher economic environment, as part of LendingTree's commitment to being the ultimate consumer champion. Homeowners can simply call 1-800-555-TREE to see if there are opportunities to save on insurance based on real-time market data.
Humanized approach to building customer relationships: With all-new customer journey segmentation and personalized email communication strategies, LendingTree can remain alongside customers even after they hit "submit" on their loan request by offering continued support throughout the process.
Monthly Newsletter, The Vine: LendingTree is launching The Vine, a monthly newsletter with expert advice, guides and proprietary reports to make sense of the news that affects your wallet.

"I started LendingTree because I wanted to create a simple way to shop and compare financing options based on my needs," said Doug Lebda, LendingTree founder and CEO. "Over the past two decades, we've significantly expanded our product offerings to cover nearly every consumer finance category from loans to credit cards to insurance. The personal finance industry has evolved as well, bringing consumers more options, and in many cases, more confusion. LendingTree is committed to making it easy to win financially by offering more support to our customers through all stages of their financial lives. We're executing on our strategic plan we shared earlier this year. The new experience and new brand direction, supported by an all-new campaign ushers in a new era for LendingTree and are the transformative first steps in a multi-year journey of becoming the ultimate consumer champion in financial services."

Kicking off a new era for the brand, LendingTree has launched an all-new, omni-channel marketing campaign featuring award-winning comedic actress, "Saturday Night Live" alum, and best-selling author, Molly Shannon. In collaboration with Mekanism, the award-winning creative agency that intersects technology, design, culture, and brand stories, the campaign leverages Shannon's comedic genius to deliver a simple message: LendingTree makes it easy to win financially.

Watch the new ad campaign here or here,

About LendingTree, Inc.

LendingTree (NASDAQ: TREE) is the nation's largest, most experienced online marketplace, created to give power to consumers so more people can win financially. LendingTree provides consumers with easy access to the best offers on home loans, personal loans, credit cards, student loans, business loans, home equity loans/lines of credit, auto loans and more, through its network of over 700 partners. Founded in 1996 and launched nationally in 1998, LendingTree has helped over 111 million customers obtain financing, save money, and improve their financial and credit health with transparency, education and support throughout their financial journey.

LendingTree, Inc. is headquartered in Charlotte, NC. For more information, please visit www.lendingtree.com

MEDIA CONTACT:
Megan Greuling
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SOURCE LendingTree, Inc.