WebBank

WebBank is a Utah-chartered industrial bank that serves as the issuing bank behind many well-known fintech credit card and personal loan products. Rather than serving retail customers directly, WebBank partners with technology companies and consumer brands to provide the banking infrastructure that allows those companies to offer credit products legally.

If you apply for a personal loan through a platform like LendingClub, Prosper, or Avant, or if you open a credit card through a fintech company, there is a good chance WebBank is the bank that actually issues and funds the product, even though you interact entirely with the fintech brand. WebBank is responsible for the credit decisions and regulatory compliance, while the fintech partner manages the customer experience and distribution.

From a consumer standpoint, this means that even though you may be applying through a technology-forward platform, your loan or card is backed by a federally regulated bank. WebBank is FDIC-insured.

The specific rates, fees, terms, and eligibility criteria on any WebBank-issued product depend entirely on the program it has set up with its fintech partner. The terms on a LendingClub loan, for example, are different from those on an Avant loan, even though both are issued through WebBank.

If you have questions about a product issued by WebBank, direct your inquiries to the brand or platform through which you applied, as that is where your customer relationship lives. Review the full loan or credit card agreement, including the APR and any fees, before accepting any offer.