Array Introduces Credit-Building Loans as a Service

NEW YORK–(BUSINESS WIRE)–Array, a financial innovation platform, has launched BuildCredit™ Loan, the industry’s first private label installment loan product that can be integrated into a company’s digital experience with just a few lines of code and usually launched within a few weeks.

BuildCredit Loan is a turnkey solution for financial institutions, digital brands and fintechs to provide customers with the ability to build and grow their credit score. Funds lent are held as collateral and payments are reported to credit bureaus in the form of an installment account. When the loan is repaid, the loan proceeds are returned to the customer or can be paid into other product offerings offered by Array customers, such as a secured card or a new account.

“Credit enhancement loans are rapidly gaining popularity, but considerable internal development time and resources have prevented many banks and digital brands from moving forward,” said Darryl Eaton, CEO of Array. “BuildCredit Loan is an ideal solution for many businesses as they can rely on the expertise of BuildCredit and Array to manage infrastructure, compliance and service as the business focuses on providing a seamless digital experience. and extending the value it delivers to its customers.”

When BuildCredit Loan is integrated, customers can enroll in the digital experience, set up automatic payments, and accumulate savings. When the customer makes payments on time, they can establish a positive credit history while continuing to make installment payments over time. For example, a borrower with no existing debt who has a credit score of 560 may see up to 60 points of increase (source: Practitioner’s Guide to Targeting Credit Enhancement Loans, 2020).

“Each year, millions of consumers sign up for high-cost financial services because they don’t have a credit history or bankable credit score,” said Martin Toha, CEO and co-founder of Array. . “BuildCredit Loan is the first private label installment loan product for financial institutions, fintechs and digital brands. It’s a compelling alternative to high interest loan products and BuildCredit Loan takes most of the complexity out of the offering as we offer it as an end-to-end service.

BuildCredit loans will be issued by an accredited bank and are managed by BuildCredit LLC, a wholly owned subsidiary of Array. BuildCredit Loan is part of the Array financial innovation platform and can be integrated with other Array products such as My Credit Manager and Offers Engine. Array provides financial institutions, digital brands and fintechs with user interface, software components, customer support, payment processing and reporting to the three offices.

BuildCredit Loan is currently in a private Alpha phase. To learn more, visit our BuildCredit page. General availability is expected in early 2023.

About the board

Array is a financial innovation platform that helps digital brands, financial institutions and fintechs bring compelling consumer products to market faster. Our suite of private label offers helps our partners drive revenue, increase engagement and empower millions of consumers to achieve their financial goals. Array was founded in 2020 by Martin Toha and Phillip Zedalis. Investors include Battery Ventures, General Catalyst and Nyca Partners. To learn more, visit

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