How to Create an App Like Avant? Step-By-Step Guide

Key Takeaways:

• The rise of the global loan lending space is contributing to the growth of loan lending apps like Avant. 

• The process to build a loan lending app like Avant includes conducting market research, defining the app idea, focusing on app design, tech stack, and partnering with experts. 

• The key features to have in Avant-like apps are loan calculators, automated credit scoring, KYC verification, and EMI reminders. 

• Smart features powered by AI, blockchain, and open banking APIs can give your Avant clone app a strong competitive edge.

• Avant-like apps make money through interest rates, processing fees, late payment charges, premium memberships, and affiliate programs.

• The potential challenges include the strong regulations, ensuring accurate credit monitoring, API integration, and building user trust.

The global standard of living is improving, supported by rising per-capita income. But with such improved standards, a key concern that individuals have is regarding proper money management. Users are still exploring the options to invest, manage expenses, and avail credit when required. 

Hence, this is where apps like Avant create impact. It offers a platform where users can manage their finances, as well as apply for credit or loans when required. Since its launch, it has served over 4M+ customers and is still expanding. 

Such a growth of the Avant app showcases the relevant opportunities for the new-age fintech entrepreneurs. They can plan to develop an app like Avant with innovative features and take advantage of industry growth. 

In this blog, we will help you understand how to develop an app like Avant, the benefits of investing in such an app, associated challenges, monetization approaches, and more. 

What Is Avant App? 

Avant is a Chicago-based fintech company founded in 2012 that provides personal loans and credit cards to mid-prime borrowers. The targeted audience includes individuals who often find it difficult to qualify for traditional bank financing. 

Instead of operating as a bank, Avant partners with WebBank to issue its credit products. The platform leverages advanced data analytics and automation to deliver fast, transparent, and fully online lending experiences designed to simplify how consumers borrow and manage credit. 

The success of the Avant app in the global market lies in its digital-first model, speed of funding, and focus on fair-credit customers. These aspects are also the key aspects that define why entrepreneurs should aim to build a money-lending app like Avant.

How Does the Avant App Work?

The working of Avant is simple, just like any other loan lending app. 

• Quick Application: Users begin by completing a short online or in-app application. At this step, Avant’s automated system performs a soft credit check to pre-qualify applicants, which does not affect the user’s credit score.

• Loan Offer: Based on eligibility, borrowers receive customized loan offers ranging from $2,000 to $35,000 with APRs between 9.95% and 35.99% and repayment terms of 12 to 60 months.

• Fast Funding: Once approved, funds are transferred to the borrower’s bank account, ensuring quick access to cash.

• Other Products: Along with loans, the app also offers credit cards and other emergency credit options to users based on their credit limit. 

• Loan Management: Through Avant’s mobile app, users can manage payments, track balances, update payment methods, and even change due dates. The app also supports autopay for hassle-free repayments.

Avant Market Stats 

Let’s take a look at some key stats related to Avant and the global lending sector. 

• Since its inception (2012), Avant has connected almost 4M+ customers to approximately US $8 billion in loan originations and over 1 million credit cards. 

• Avant issues personal loans in the U.S. from US $2,000 to US $35,000, with terms of 24–60 months.

• The global digital-lending market will expand and is projected to reach $45B by 2030, with consumer loans accounting for ~61% of the total.

• In the U.S. digital lending market, consumer loans made up ~62.9% of volume in 2024, and the segment is projected to grow at a ~14.2% CAGR through 2030.

The stats define that the loan lending sector has significant growth opportunities for new entrepreneurs planning to create a loan lending app like Avant. 

Benefits Of Investing In Avant-like App Development 

Avant clone app development is more than just entering the fintech market. It's about tapping into one of the fastest-growing sectors worldwide. 

As consumer demand for quick, transparent, and mobile-first lending continues to rise, entrepreneurs will increasingly explore how to build an app like Avant to meet evolving user expectations.

Let’s explore the key benefits of investing in Avant-like app development. 

1. High Demand for Digital Lending Solutions

The reports indicate that the global digital lending is projected to grow at a CAGR of 27.7% from 2025 to 2030. Such a demand is shaped by the speed and simplicity offered by digital loan lending platforms over traditional banking. 

By building a loan lending app like Avant, businesses can cater to this demand for instant, app-based loans and capture market share early.

2. Scalable and Profitable Business Model

When you develop an app like Avant, you can unlock multiple revenue streams. From interest rates and processing fees to cross-selling financial products and referral programs. 

Also, an Avant clone app development model can easily scale as your user base grows, offering consistent and predictable income opportunities. 

3. Access to Underserved Markets

A key benefit of investing in an Avant-like app is access to global as well as underserved markets. Being digital, your app is limited to a geographical space. Also, an app like Avant focuses on serving mid-prime and fair-credit customers, often overlooked by banks. 

If you create an app like Avant, you can target such an underserved segment and promote financial inclusion while expanding your customer base.

4. Superior User Experience and Brand Trust

Apps like Avant are designed to simplify every step of the lending journey, from loan application to repayment. Hence, these apps leverage user experience as a key factor to establish brand trust and to scale in the competitive space. 

When planning to make an app like Avant, having a seamless interface, transparent pricing, and real-time loan tracking can significantly help enhance user trust and engagement.

5. AI and Automation for Smarter Lending

The loan lending apps like lending are way ahead of traditional banking and lending systems. These apps are focusing on AI in finance to offer a seamless user experience. 

Such includes AI-based credit scoring, risk assessment, and fraud detection systems. Such advancements can help automate lending decisions, minimize defaults, and boost operational efficiency, leading towards sustainable profitability.

How To Build An App Like Avant?

If you are still wondering how to build an app like Avant, then you should go through the step-by-step process mentioned below. The process covers everything from the conceptualization of the app to launching it. 

Step-by-step process to develop a loan lending app like Avant:

Step 1: Start With Detailed Market Research

The Avant-like app development starts with understanding the market you’re entering. Thorough research helps you design an app that fits user needs and complies with financial laws.

► Study competitors

Look at popular lending apps and approach to build an app like Upstart, SoFi, or LendingClub. Check their features and what users like and dislike in those apps so you can improve on those areas.

► Analyze your audience

Know who your targeted users are. Studying their income levels, loan amounts, repayment preferences, and financial challenges can help create targeted lending plans.

► Understand regulations

Focus on regulations and compliance, as each region has specific lending rules like KYC, AML, and data protection policies. 

Step 2: Proceed with App Ideation

Once you know the target market, explore potential loan lending mobile app ideas. The app ideation helps you turn your market findings into a functional concept.

► Define your model

Decide what type of lending your app will offer. You can focus on personal loans, credit lines, payday loans, or business funding. 

► Map user journeys

When planning to build an app like Avant, visualize how borrowers will move through your app. From registration and verification to loan approval and repayment. Keeping the process simple improves user experience and conversion.

Step 3: Design App UI/UX

The success of a loan lending app like Avant is about balancing simplicity and trust. A good mobile app design helps users apply for loans quickly and feel secure throughout the process.

► Wireframing and prototyping

Create a visual map of your app’s layout and screens. Tools like Figma or Adobe XD help you create app wireframes and visualize the user journey before development begins.

► Accessibility and usability testing

With expert UI/UX design services, you can test your early designs with a sample audience. Get feedback to make sure the app follows a smooth navigation from login to loan approval and is easy to use for people of all ages and backgrounds. 

Step 4: Choose a Suitable Technology Stack

The app tech stack you choose determines your app’s performance, scalability, and security. It’s the foundation of your Avant clone app development process.

► Selecting Appropriate Technologies

Languages like Node.js, Python, or Java are strong choices for backend operations. Use Flutter or React Native to build mobile apps that run on both Android and iOS. 

For web versions, React.js or Angular works well. Select PostgreSQL, MySQL, or MongoDB to store user profiles, loan data, and repayment history securely. 

Combine this with cloud platforms like AWS or Google Cloud for reliability.

► Third-party integrations

Integrate APIs for credit scoring, KYC verification, and payment gateways. Plaid, Experian, and Stripe are commonly used to build a loan lending app like Avant.

► Security tools

Integrate SSL, two-factor authentication, and data encryption. These help prevent unauthorized access and keep financial data safe.

Step 5: App Development

This stage focuses on converting your idea into a fully functional app. The process to develop a mobile app happens in two key stages: front-end and back-end.

► App Prototype 

Start by creating an app prototype before moving to final development. Get feedback from real-life users on this prototype version and proceed accordingly. 

► Integration of core features

Add essential features such as loan calculators, EMI reminders, real-time notifications, credit checks, and document uploads.

Step 6: Choose Platforms to Launch the Product

When planning how to create an app like Avant, you should also focus on deciding the right platforms to launch your app, as it affects its reach and revenue potential.

► Mobile platforms

Start with Android and iOS since they cover the widest audience in the U.S. Fintech users prefer mobile apps for convenience and accessibility.

► Cross-platform compatibility

Using a single framework like Flutter saves time and cost while keeping app behavior consistent across devices.

Step 7: Testing of the App

Mobile app testing is one of the most critical steps when you develop an app like Avant. It ensures that every feature works properly before launch.

Functional and Performance Testing

Check that users can register, apply, and repay without facing bugs or delays, and ensure that the app can handle thousands of users during peak times.

► Security testing

Conduct security testing to ensure that users’ sensitive data is protected with encryption. Also, run penetration tests to detect weaknesses.

► Compliance testing

Verify that your loan lending app complies with the financial and data privacy standards like PCI DSS and GDPR, as well as regional app compliance.

Step 8: Launching and Maintenance

The last step is to launch your Avant-like loan app and start attracting users.

► App store deployment

Publish your app on the Play Store or submit your app to the App Store. While doing so, follow their specific compliance and security guidelines for these platforms.

► Monitor and maintain

Once the app is live, use analytics tools to track user activity, loan approvals, and payment performance. Also, opt for scheduled mobile app maintenance services to ensure that your app works smoothly. 

► Regular updates

Simply launching the loan lending app like Avant is not enough. Also, add new features like credit tracking, push alerts, and better dashboards. Keep improving security to match evolving fintech standards.

Features To Have In Avant Like App 

Simply focusing on how to build an app like Avant, but along with such, you must also prepare your checklist regarding key loan lending app features to be included. 

The features offered in your app play a key role in defining your app's competitiveness and adaptability. Key features to have in the Avant-like app are: 

1] Quick Sign-Up and Secure Verification

The users should have quick sign-up support and be able to create an account using their phone number, email, or social profile. 

Also, add secure KYC and digital background verification systems. Such an approach builds trust and ensures compliance with financial regulations. 

2] Simple Loan Application

If you are planning to develop an app like Avant, then it should have an easy loan application process that allows users to complete the process in minutes. 

Also, include a soft credit check to help them see if they qualify without hurting their credit score. 

3] Personalized App Interface

Personalization plays an important role in the success of a loan lending app. The app should show personalized loan options that match their credit history, income, and repayment ability. 

Also, your app should offer users personalized product options that can keep them engaged. This helps users make smart borrowing decisions and builds long-term trust.

4] Instant Loan Approval and Fast Disbursal

If you are building a loan app, then your app should support fast or instant loan disbursal. As the users prefer quick results, especially when they need urgent funds. 

Hence, your app should offer automated approvals and send money to the user’s account within the minimum possible time. 

5] Loan Tracking Dashboard

Your loan lending app, like Avant, should have a simple dashboard where users can track their loan balance, due dates, and check their payment history. 

A clear visual layout makes it easy for users to stay updated and manage their repayments on time.

6] Auto Payment and Smart Reminders

The app should allow users to set up automatic payments from their linked bank accounts. Also, add friendly reminders before each due date through app notifications or SMS. 

Such approaches help reduce missed payments and improve overall repayment behavior.

7] Customer Support Chat

Ensure you integrate advanced customer support options when planning to create an app like Avant, as good support builds trust. Features like live chat, email, or AI chatbot options for users to get quick help.

8] Strong Security and Data Protection

Keep user data safe with end-to-end encryption and secure logins. Follow global mobile app compliance rules like PCI DSS and CCPA to protect personal and financial information. This ensures your app runs safely and earns user confidence.

How Much Does It Cost To Develop An Avant Like App? 

The average cost of Avant like app development can range from $20,000 to $250,000, depending on your project plan. 

You can plan for an app with basic features at $20,000-$50,000 or an exact Avant clone app for which the cost can reach up to $250,000 or even more if you plan to add more innovative features. 

Check out the detailed bifurcation of how the cost to develop a money lending app will be utilized when you proceed to make a loan lending app like Avant. 

Factors Affecting The Overall Avant Like App Development Cost 

The total cost to develop an app like Avant depends on several factors, ranging from the project complexity to platform choice and many more. Let’s take a look at the key factors that impact the overall cost. 

► App Complexity and Features

Basic app versions with loan applications and repayments are cheaper, while advanced features like AI-based scoring, chatbots, and dashboards increase both development time and cost.

► Design and User Experience

A simple, well-structured design builds user trust and is also cost-effective. However, adding custom animations, micro-interactions, or advanced navigation can increase both design time and cost.

► Technology Stack

Choosing advanced technologies like AI, machine learning, or blockchain can improve your app performance, but also raise the budget. The right loan lending app tech stack ensures faster performance and better scalability.

► Security and Compliance

Loan apps must follow data security laws such as PCI DSS and GDPR. Depending on the mobile app security level, the cost can vary. Features like encryption, biometric login, and KYC verification improve safety but add to development costs.

► Development Team Location

The rates of developers vary across regions. A team from a leading mobile app development company in the USA will charge more than teams in Asia or Eastern Europe.

► App Platform Choice

Building for Android or iOS alone costs less than creating a cross-platform app. If you add a web panel or admin dashboard, it increases the budget further. 

► Integration with Third-Party Services

Third-party integrations and APIs for payments, credit checks, or customer support are essential to make your app user-friendly and to get their attention. But such integrations come with added setup and subscription costs.

► Maintenance and Updates

App maintenance and upgrades further take up the cost. Post launch, your app needs timely bug fixes and feature improvements. Such timely maintenance and update requirements impact the cost to build an app like Avant. 

Challenges In Developing Avant-like App Development 

If you are planning to build a loan lending app like Avant, then it may appear exciting at the start, but certain loan lending app development challenges exist that also impact its operations. These challenges include: 

Challenge 1: Meeting Financial Regulations

Loan lending apps like Avant are required to follow strict rules such as KYC, AML, and data protection laws. Such regulations further vary in every region, and hence, complying with them can be complex and time-consuming.

Challenge 2: Ensuring Data Security

To get credit through these apps, users share sensitive details like ID proofs, bank data, and credit history. Hence, the app needs to have robust encryption, secure payment gateways, and two-factor authentication to protect that data.

Challenge 3: Accurate Credit Scoring

A key challenge is creating reliable credit scoring models that balance risk and opportunity. Using AI and analytics helps, but building and training these systems takes time and precision. Any gap in credit monitoring can result in increased default rates. 

Challenge 4: Smooth API Integration

Apps like Avant depend on APIs for credit checks, payments, and user verification. These APIs and third-party integrations are managed. If not integrated well, they can cause system delays or data sync issues.

Challenge 5: Building User Trust

Users hesitate to share financial information on new apps unless they feel safe. Hence, building trust and retaining them is a key threat to be considered. Transparent loan terms, easy repayment tracking, and responsive customer support help create confidence and credibility.

Trends To Leverage To Stand Out 

Avant and other top money lending apps have successfully been able to get their market share and are further expanding in the competitive space. But if you are planning to build an app like Avant, then you need to focus on industry trends that can help you stand out in the competition. 

1. AI-Powered Loan Approvals

AI in loan lending apps is speeding up loan approvals by analyzing user data in seconds. AI helps assess creditworthiness accurately, detect fraud early, and personalize loan offers, all without human delays.

So you can plan to incorporate AI elements in your loan lending app, like Avant, to improve its competitiveness. 

2. Open Banking Integration

Another key trend that is taking over the loan lending apps is open banking. It allows users to securely link their bank accounts to share data with your app. 

This makes credit evaluation more transparent and improves approval accuracy while keeping the process fully secure. Hence, it is one of the key trends that can help you get users' attention and engagement. 

3. Blockchain-Based Security

Blockchain is relatively new, but rapidly adopted across fintech apps. Using blockchain in a loan lending app can make your app safer and more trustworthy. 

It ensures tamper-proof transactions, transparent loan records, and faster settlements, reducing fraud and building user confidence.

4. Voice and Chatbot Support

Customer support and experience are one of the key factors that define the success of the loan lending app. In the current scenario, smart chatbots and voice assistants improve customer experience by offering instant help 24/7. 

These trends can guide users through loan applications, repayments, and FAQs with simple, conversational support.

5. Personalized User Experience

Users love apps that understand their needs and offer solutions accordingly. By using data analytics and behavioral insights, your loan lending app can send custom loan offers, reminders, and recommendations that make users feel valued.

How Avant-Like Apps Make Money?

If you plan to build an app like Avant, it’s important to know how loan lending apps make money. Modern-day loan lending apps offer multiple yet smart ways to earn a steady income while helping users access funds quickly. 

Here are the most common monetization strategies through which apps like Avant make money:

A] Interest on Loans

The main source to earn money is the interest charged on loans offered. When users borrow money, they repay it with interest. The rate depends on credit score, loan amount, and repayment period.

B] Origination and Service Fees

Most loan apps charge a small origination fee of about 1% to 5% on each loan. This fee helps cover verification, processing, and loan setup costs. Further, small service charges for things like instant transfers or early repayments add up to regular income over time.

C] Late Payment Fees

If a borrower misses a loan or the credit card bill repayment date, the app charges a late payment fee. These fees are a much smaller part of the revenue, but are among the important aspects to be focused on. 

D] Partnerships with Banks and Lenders

Loan lending apps also work with banks, credit unions, and other financial institutions. Such partnerships promote cross-selling of the financial products, and the app earns a commission or a percentage for every fintech product sold through its platform.

E] Referral and Affiliate Programs

Apps like Avant can promote financial products such as credit monitoring, insurance, or investment tools. For every user who signs up through these links, the app earns a referral fee.

F] Subscription Plans

The loan lending apps also offer subscription plans for users who want extra benefits like quicker approvals or better financial analysis. These small monthly or yearly fees bring in steady revenue.

G] In-App Advertisements

Another popular mobile app monetization approach, through apps like Avant, is by showing targeted ads related to finance, insurance, or credit repair. When users click or engage with these ads, the app earns money without impacting the user’s experience.

H] Data Monetization

The loan lending apps can monetize user data by providing access to research or financial agencies. Such information includes sharing spending and repayment patterns while following the ethical norms and privacy laws like GDPR.

How JPLoft Can Help You Develop An App Like Avant?

When it comes to developing a loan lending app like Avant, you need to look for expert developers with proper financial understanding, along with coding expertise. 

Partnering with JPLoft, the leading loan lending app development company, brings the perfect mix of fintech expertise, security, and innovation. We design and build custom loan apps that simplify borrowing and lending while ensuring complete compliance with financial laws like KYC, AML, and GDPR.

Our team of developers follows a strategic approach, from market analysis and UI/UX design to backend development and API integration for payments, credit checks, and user verification. We focus on proven tech platforms such as Flutter, React Native, and Node.js to create fast, reliable, and scalable solutions.

At JPLoft, we don’t just code apps, but build digital platforms that enhance trust and engagement. Whether you want to build an app like Avant or have your own loan app idea, our experts can customize every feature to align with your business goals and user needs. 

With JPLoft, you get more than a development team, but a fintech partner focused on long-term success.

Conclusion

Building a loan lending app like Avant takes smart planning, reliable technology, and a clear understanding of user needs. With the right team and strategy, your app can offer simple borrowing, secure transactions, and long-term growth. 

As digital lending continues to expand, now is the perfect time to invest in Avant-like app development. Partnering with an experienced company like JPLoft can help you turn your vision into a scalable, user-friendly, and profitable platform.

The future of lending is digital, and your app could be the next big name in the fintech space. So start building now.