Partner overview
Propel Holdings is a fintech company dedicated to building a new world of financial opportunity for underserved consumers. In Canada, the US, and the UK alone, approximately 90 million consumers struggle to access credit from traditional financial institutions. Propel is changing that through its operating brands, CreditFresh, MoneyKey, Fora Credit, and QuidMarket, using AI-powered technology that analyzes up to 5,000 data points per applicant to bring more consumers into the financial system. CreditFresh, its flagship US brand, is a market leader in the non-prime lending space with more than 600,000 consumers served.
The opportunity
Propel Holdings and its bank partners sought a strategic partner to help enhance the monetization of their 1st-party declined traffic while driving significant growth in their loan origination volume.
Why Propel chose Engine by Gen
Engine delivers personalized, data-driven financial experiences, enabling lenders to optimize engagement and expand access to credit for their consumers.
Integration
CreditFresh sought to enhance the monetization of its 1st-party declined traffic, initially allocating just 10% of this traffic to Engine for testing against competitor performance. After a single quarter of collaboration, CreditFresh reallocated over 70% of its declined traffic to Engine's platform driven by superior revenue performance. With a focus on optimization, white-glove service, and leveraging Engine's second-look infrastructure, Engine outperformed its competitive set. The Earnings Per Lead (EPL) consistently exceeded CreditFresh's target range, showcasing further potential for growth. By offering a highly personalized experience for CreditFresh's declined consumers they were able to capture increased value from previously unconverted leads, increasing both revenue and engagement.
Propel Holdings and its bank partners aimed to increase their loan origination volume, where Engine focused on optimizing marketplace performance and consumer targeting. Through Engine's advanced data-sharing capabilities, performance optimizations, and strategic channel enablements, including exclusive agreements within Engine's network which contributed to roughly 5% of the growth, Propel was able to further accelerate its originations. Engine's real-time targeting and offer visibility improvements allowed Propel to reach the right consumers at the right time which positioned Propel to more than double its 2023 platform origination volume, demonstrating the effectiveness of Engine's network and optimizations in achieving sustainable growth.
Results
Since launching with CreditFresh, Engine grew lead volume and payouts by 8x over six months, with EPL consistently surpassing target ranges, peaking at 16% above expectations. Additionally, Engine grew Propel Holdings' and its bank partners' originations on platform by 283% YoY from 2023 to 2024 with approximately 5% of this growth driven by exclusive new acquisition channels agreements within Engine's network.
- Industry
Non-prime consumer lending / fintech
- Business Need
Enhance the monetization of 1st-party declined traffic while driving significant growth in loan origination volume
- Solution
Propel Holdings implemented Engine’s Marketplace Solution to optimize both decline traffic and loan originations across the platform
- Results
• 7x uplift in volume
• 45+% revenue compounded monthly growth rate
• 2.8x increase in approvals
• 283% YoY growth in originations
“Partnering with Engine by Gen has enhanced how we monetize our declined traffic. Their personalized approach, seamless implementation, and advanced targeting has paved the way for continued growth between our two companies.”