How To Develop A Money Lending App Like Empower?

The personal finance and loan lending market is undergoing a significant tech transformation, and apps like Empower (rebranded as Tilt) are leading the change.

It is a must-have app for users looking for cash assistance beyond their credit scores. Also, based on the real-time financials and user profiles, it offers them personalized financial products, including credit cards.

A key reason why it stands out from the competition is its ability to offer a comprehensive solution, rather than just basic functionalities. The industry reports projects that the global cash advance sector will reach $109.3 billion by 2030 at a 5.2% CAGR.

Hence, rather than just focusing on the benefits and contributions of the Empower app to the global cash advance sector, you can plan to create an app like Empower and be a part of change.

But with such a thought, a concern arises, which is “How to develop an app like Empower?”

So, if you are also stuck with such a thought, then this blog is for you. Let’s take a deep dive into the concepts, the relevant market stats, cost to build the app, trends to leverage, and more.

Key Takeaways:

• The shifting user preferences towards cash advance, BNPL, and alternative credit sources, making the app like Empower a popular choice. 

• Key features to be incorporated in a loan lending app are AI-powered budgeting, instant cash advance, credit score monitoring, and more. 

• The cost to develop an app like Empower cash advance can range from $20,000 to $200,000. 

• Creating intuitive UI/UX and detailed wireframes is essential to enhancing user satisfaction and streamlining the development process.

• Monetization models like subscription or transaction fees can be implemented to ensure sustainable revenue growth.

• Partner with an experienced app development company such as JPLoft to save time, reduce risks, and speed up your go-to-market strategy.

What is an Empower App? 

Empower is a personal finance app rebranded as Tilt, offering a range of services with a primary focus on cash advance services.

The app enables users to manage their finances and provides instant cash assistance of up to $400, with no credit check or interest. In other words, it is a salary advance app that provides you with a small amount in case your salary is a few days away.

The app has 50L+ downloads on the Android App Store, with 450K+ 5-star reviews. Along with the instant credit facility, it offers users with a line of credit up to $1000, which depends mainly on the payment and credit history of the users.

Also, you can apply for a credit card for flexible spending; however, the eligibility depends on the user’s financial profile. 

How Does the Empower App Work?

Before you proceed with your plan to develop a loan lending app like Empower, let’s take a look at how an app like Empower works. 

A) Sign up and User Verification 

The users sign up via their phones using their personal details, link their bank accounts, and submit documents for verification.

The app verifies the user's details and then authorizes their registration. 

B) Apply for Cash Advance

The user then places their cash advance request on the app, which is the core feature offering of the Empower app.

The eligible users can get an instant cash advance without complex paperwork.

C) Cash Repayment 

After the definite period for which the app has lent users the money, it needs to be repaid. The app offers timely notifications to users regarding the repayment of the amount. 

D) Credit Checking and Building

Depending on the user's repayment history and their past credit activities, the app also allows users to check their credit scores and offers tips on improving them. 

E) Unlocking Other Related Products

Timely repayment allows the user to unlock other products, including the line of credit and credit card facilities. It is worth noting that repaying on time helps the user to unlock higher credit limits.

It is recommended that if you’re planning to create a loan lending app like Empower, you should focus not just on its features, but on the psychology behind why users trust it.

Relevant Market Stats About the Empower App

Before proceeding with the Empower clone app development, you can take a look at some key market statistics that can help you decide whether you should proceed or not.

• The global lending platform market is expected to reach $890 billion by 2030, of which Empower App is a considerable part of the industry. 

• The app has 5 million+ customers globally, and has offered 1 billion+ in cash advances and 450K+ 5-star reviews.

• The app has scaled globally through several strategic acquisitions, making it one of the strategic industry leaders. 

• The growing customer interest towards BNPL, alternative credit, and cash advance services is among the key reasons that are contributing to the growth of this industry sector. 

• Empower (Now Tilt) was established in 2016 and has been recognized as the fastest-growing fintech startup, easing users’ financial journey.

Time has never been more favorable than now to build a loan lending app, so one can capture the booming digital finance market.

Benefits of Investing in the Empower like App Development 

Several benefits exist that you need to be aware of if deciding to invest in an Empower like app development. These benefits can be:

► Massive Demand and High-Growth Market

With the growth projections of the global cash advance industry and the existing gaps in credit lending, it offers significant growth options to entrepreneurs planning to enter the sector.

Further, the increased smartphone adoption is promoting the interest of the users towards such instant lending apps. 

► Diversified Revenue Streams 

Planning to build a loan lending app like Empower opens up diversified app revenue streams for entrepreneurs.

These app types are not just restricted or limited to single service offerings, but diverse services and financial product offerings can be clubbed in a single app to offer users a comprehensive experience.

Such diversification can include cross-selling insurance, investment, and other banking products.

► Global Scalability

If you are planning to create a loan lending app like Empower, then global scalability is not a threat to you. As Empower’s business model is not restricted to a specific geographic area, and its expansion proves, the global potential and success opportunities exist.

Hence, you can focus on creating a scalable and sustainable app that can withstand the global competition. 

► Recurring Revenue

A key reason for investing in mobile app ideas such as Empower (now Tilt) is the recurring revenue.

Your app can have subscription-based services or fixed service fees that can offer you a recurring and predictable income source.

Hence, such an approach can help define both user loyalty and offer a predictable income stream for these fintech apps.

Features to Have in an Empower like App 

In order to build a loan lending app like Empower that can withstand market competition, several must-have loan lending app features exist that can’t be ignored.

These include: 

1. Instant Cash Advances

One of the biggest advantages that Empower enjoys is its ability to offer quick cash to users without the traditional banking delays.

For your Empower clone app development, you’ll need to include a feature that assesses eligibility instantly and transfers funds within minutes.

Further, such a feature can be paired with transparent fees and clear repayment terms to build trust.

2. Unsecured Credit Card Option

Empower offering of unsecured credit cards was a game-changer and helped the platform improve its user acquisition.

Hence, for your app, you can plan to include a feature offering a credit line without requiring collateral, which will open doors for users with limited assets.

Just make sure underwriting is fair, inclusive, and backed by responsible lending policies.

3. AI-Powered Budgeting Tools

Users love personalized insights, and technology like artificial intelligence is making personalization more accessible.

AI can track spending patterns, categorize expenses, and offer smart budgeting suggestions.

This isn’t just a “nice-to-have” feature when planning to develop an app like Empower; it’s a retention booster.

4. Credit Score Monitoring

Another key feature to be focused on when deciding your layout for how to develop an app like Empower is to offer users the option of credit score monitoring.

Integrating with credit bureaus or alternative scoring models gives your audience valuable visibility into their financial health.

Such a feature is effective, as helping users track and improve their credit scores keeps them engaged in the long term.

5. Bank Account Linking

If you are working on your project to build a loan lending app like Empower, then you can leverage banking APIs to allow users to link their bank accounts.

This feature powers loan eligibility checks, transaction monitoring, and budgeting insights.

Make sure it’s secure and easy to set up, with support for multiple banks. Also offers users all the relevant insights in a single platform.

6. Secure Payment Gateway

From loan repayments to subscription fees, payments must be frictionless and encrypted.

Hence, your app must have a secure payment feature, supporting multiple payment options, cards, bank transfers, and wallets.

Such a feature offering can help build customer trust and widen your audience base.

7. Push Notifications

Another must-have feature for an Empower like app is push notifications. Timely alerts about loan status, repayment dates, spending habits, and credit updates keep users informed and active.

Having such a feature in your app helps keep your users engaged and improves your app loyalty.

8. Fraud Detection & Advanced Security

Fraud detection is one of the mandatory features that fintech apps can’t compromise on.

Hence, it is recommended to have biometric login, two-factor authentication, encryption, and AI-based fraud detection to safeguard both the user and your platform.

You can partner with an expert AI app development company that can help automate fraud detection and advanced security approaches.

9. In-App Chat Support

Offering the best possible customer support is one of the key features to have in your loan lending app, like Empower.

When users have questions about loans, payments, or features, instant chat support builds confidence and reduces churn.

How to Build an App like Empower?

If you’re serious about entering the digital lending market, understanding the process of how to develop an app like Empower (now rebranded as Tilt) is the first big step.

While the concept might sound overwhelming at first, breaking it down into clear, actionable stages makes the process much more manageable.

Step 1: Market Research and Planning 

Before you create an app like Empower, you need to deeply study the targeted market. Start by identifying your targeted users.

Are they gig workers who need instant cash advances? Young adults building their credit profile? Or budget-conscious professionals looking for AI-driven money management tools?

Further, focus on the leading loan lending apps, which can be either Tilt, Brigit, or LendingClub. What features do they offer? Where are they lacking? Further, utilize these insights to plan for your loan lending app differentiation.

You can also partner and reach out to the top loan lending app development companies for a detailed consultation on the latest trends in app development and more.

Pay attention to AI in loan lending apps trends, the growth of digital-first banking, and consumer trust factors projected toward 2030. 

Step 2: Define App Features to be included 

The next step in how to build an app like Empower is deciding the features that will make your app stand out.

A loan lending app like Empower can have common features like instant cash advances, unsecured credit options, and credit score monitoring. But to compete, you need to layer in value-added services.

When deciding on your  features, consider AI-powered budgeting tools, secure banking linking, in-app chat support, and fraud detection systems. These features are not just nice-to-have features, but are trust builders.

To truly create an app like Empower that can surpass the industry competition, you need to think about features that can fulfill users’ expectations. Selecting features is important as it defines your user experience and their retention.

Step 3: Design App UI/UX 

For a loan lending app, the mobile app design plays a huge role.

The app UI/UX needs to feel safe, modern, and easily navigable. A clean, intuitive interface with transparent loan details, repayment timelines, and a clear fee structure helps build user confidence.

Before diving into full development, it’s smart to create app wireframes that map out the entire user journey.

App Wireframes let you visualize the placement of key features like loan request forms, budgeting dashboards, and repayment notifications without getting bogged down in final design polish.

Further, the developers can leverage tools to create mobile app prototypes to test design based on wireframes, ensuring every interaction feels intuitive.

Step 4: Select Tech Stack 

If you are deciding on how to create an app like Empower, then a key area to be focused on is selecting the perfect app tech stack.

Your tech stack choices will impact your loan lending app’s performance, scalability, and compliance capabilities.

For cross-platform efficiency, you can opt for Flutter or React Native for cross-platform efficiency.

However, Sift for iOS and Kotlin for Android are solid choices.

For the backend, Node.js or a Python framework like Django can handle complex financial logic, while PostgreSQL or MongoDB provides more secure and reliable database options.

If your goal is to develop a loan lending app like Empower, compliance with PCI DSS and lending regulations must be baked into your tech stack decisions from the start.

Step 5: Develop The App 

At this stage, you bring your idea into real life. Developing a loan lending app like Empower should follow agile methodologies, launching a minimum viable product first, then making changes in it based on user feedback.

The MVP should have core functionality like loan requests, disbursement tracking, repayment scheduling, and account management. Further, the security features like encryption, two-factor authentication, and secure APIs aren’t optional; they’re foundational.

If you’re building in-house, you can hire dedicated developers experienced in fintech app development. If outsourcing, partner with a firm that has a strong track record in the lending domain.

Step 6: App Testing & Launch 

Before going live, you need to conduct a rigorous test of your loan lending app. Such app testing is important to ensure that your app runs smoothly under real-world conditions. 

Such a testing process can include functional testing, security testing, performance testing, and other relevant testing.

Every test has its importance. Functional testing confirms every feature works as intended. Security testing ensures data protection and fraud prevention.

Performance testing checks stability under peak loads.

Another effective approach can be to conduct a beta test with a limited audience, which allows you to gather feedback and work on issues before the public launch.

Such testing is a significant part of your app development process, and such leads towards a well-executed launch of your money lending app idea. 

Step 7: Post-Launch Maintenance

Launching an app is not the final stage, where you can think of taking a rest. Even after a successful launch, it is significant to focus on regular updates that can keep the app aligned with evolving trends and users' feedback.

Every successful money lending app needs to invest in app maintenance services that can ensure your app stays competitive, secure, and user-friendly. 

Post-launch app maintenance can further involve strategies to track user behavior, measure app performance, and keep refining for fraud detection, upgrade your tech stack when necessary, and adapt to regulatory changes. 

How Much Does it Cost to Develop an App Like Empower? 

Now comes the most important part: What is the cost to develop a money lending app?

The cost to develop an app like Empower cash advance can range anywhere between $20,000 and $200,000.

Such a difference is based on several factors, including the app scope, feature offering, development team location, and more.

A money lending app with basic functionality can cost anywhere between $20,000 and $50,000. Further, a mid-level app might cost you $50,000 - $100,000, and a full-scale app can have an estimated cost of $100,000 to $200,000 or even more.

Following such a cost factor, it is recommended to create a detailed layout on how to build an app like Empower(Tilt) before proceeding with your final app development.

Factors Affecting the Overall Cost of Empower Like App Development

When deciding on the cost to build an app like Empower, you need to understand that no size fits all. The price tag of the project depends on several factors, which will be discussed below: 

► Feature Complexity

Your app features have a significant impact on the overall cost of your app development. If you want to develop an app like Empower (Tilt) with basic features such as instant cash advances, basic account linking, and simple budgeting tools, your costs will be lower.

However, adding premium functionalities such as AI-powered spending insights, real-time credit score monitoring, advanced fraud detection, and in-app loan management will require more development time, third-party integrations, and rigorous testing.

More features also mean more updates and ongoing maintenance costs.

► Choice of Platform 

Do you want your cash advance app like Empower (now Tilt) on iOS, Android, or both?

Building for a single platform is cheaper, but it can limit your reach. Cross-platform development using frameworks like Flutter or React Native may cost more, but can help you reach a wider audience.

► Design Quality and App Wireframes 

Trust and reliability are among the core aspects to be focused on when building a money lending app.

Investing in intuitive UI/UX design ensures your app is easy to navigate and is visually appealing.

Wireframes act as the blueprint for your app, helping developers understand the flow before coding begins. While good design increases upfront costs, it can dramatically improve user engagement, retention, and long-term profitability.

Also, such investments are important to make an app like Empower and to lead a competitive position in the industry.

► Tech Stack and Integrations 

The chosen tech stack for your loan lending app significantly impacts the cost to build a loan lending app like Empower.

Choosing a secure and scalable backend is as essential as your app UI/UX. Integrating features like payment gateways, bank APIs, and credit score services often comes with licensing fees.

Cutting corners with your tech stack might save money now, but it can lead to expensive rebuilds later.

► Development Team Location 

The location of the developers you have hired for the project can further influence your budget.

Developers from Western countries like the US or Western Europe offer a higher project cost than teams in Eastern Europe, South Asia, or Latin America.

You can reach out to an experienced mobile app development company in Denver to learn more about the development cost in the region and plan your project accordingly.

► App Maintenance Services 

Simply focusing on the cost to launch your money lending app is not enough. Along with such a cost, you need to focus on the cost required to maintain your app and introduce further updates.

Hence, it is important to partner with an experienced developer to maintain and scale the app. 

Challenges in Developing an Empower like Cash Advance App

Building a cash advance platform such as Empower can be exciting, but it’s not just like any regular app development.

Loan lending apps are part of the fintech sector that deals with sensitive data, regulatory constraints, and user expectations, which adds to the process complexity.

If you are creating your checklist for how to create an app like Empower, then you also need to focus on common money lending app development challenges.

These challenges can arise in the process and need to be addressed before they turn into roadblocks.

1. Compliances and Regulations

Fintech and loan lending sectors are among the most regulated sectors in the world. Every nation and region has its legal framework, regulating the sector.

Regulations like KYC, AML, and GDPR are some international standards that need to be fulfilled irrespective of the region you are in. Meeting these standards requires robust identity verification systems, secure data storage, and constant monitoring to ensure compliance.

Skipping these steps can turn out to be a key threat or challenge that can even lead your app to be banned from app stores.

2. Data Security and Fraud Prevention 

When you create a loan lending app like Empower, you are dealing with users’ details, bank account information, and other credible information.

Hence, your app needs to have advanced encryption, multifactor authentication, and continuous threat monitoring to protect such data.

Failing to comply with such data protection standards can have an impact on both the technical complexity and the app's reputation in the global marketplace. 

3. Building a Seamless User Experience

Getting used to a financial app can be challenging for new users; hence, it is important to work on having a seamless user experience with smooth navigation, a simplified process, and clear terms and conditions of using the app.

This is why it is recommended to invest in designing wireframes and prototypes before you move into full development.

4. Integration with Banks and Third-party APIs

One of the challenging parts of Empower like app development is integrating with multiple banking systems and third-party services like payment gateways, credit bureaus, and budgeting tools.

Each integration comes with its own set of requirements, security protocols, and potential points of failure. Without a robust tech stack and skilled backend developers, these integrations can become a major bottleneck.

5. Scalability and Performance

If you make an app like Empower, and it gains traction, you’ll need to scale quickly to accommodate more users, larger loan volumes, and higher transaction loads.

While doing so, you need to pay attention to having a scalable backend architecture that can retain your app performance, handle performance load, and even downtimes.

Trends to Leverage to Stand Out in the Loan Lending Sector

The fintech space is more competitive than ever, and if you’re planning to develop an app like Empower, your app needs to have more than just the basics.

Users are no longer satisfied with basic loan features; they expect AI-based features, personalization, and innovation that make their financial lives easier.

By tapping into emerging money lending app trends, you can position your app as the go-to solution in the market.

Let's focus on some key trends that can help you stand out:

► AI-Powered Financial Insights

One of the biggest game changers is using artificial intelligence to personalize the user experience. AI can analyze spending patterns, predict potential cash flow issues, and even recommend the best repayment schedules.

Imagine a user getting a friendly notification like, “Your next paycheck is five days away, but your balance might dip; here’s a quick advance option.” This type of personalization builds trust and encourages repeat usage.

► Hyper-Personalized Budgeting Tools

Users don’t just want to borrow money, but at a better and personalized interest rate.

Integrating AI-driven budgeting, savings goals, and financial planning features can make your fintech app a daily-use tool instead of a once-in-a-while necessity.

Such can promote higher retention rates and open up opportunities for cross-selling other services.

► Biometric Security and Fraud Detection

Security has always been important in fintech, but with deepfake fraud and phishing attacks on the rise, it’s now a competitive differentiator.

By using biometric logins (like fingerprint or facial recognition) combined with AI-powered fraud detection, your Empower like app development project can assure users that their data and funds are safe without impacting the app performance.

► Gamification for Engagement

Being loyal to money lending apps might not sound “fun,” but gamification elements can change that. Some mobile app development companies are already helping such players to add achievement badges, loan repayment milestones, and rewards for on-time payments.

This approach makes financial responsibility more engaging and motivates users to stay consistent.

► Voice-Enabled Transactions

With the growth of smart assistants like Alexa and Google Assistant, voice-enabled financial services are becoming more popular.

These options are becoming an irresistible part of the business models aiming to build a loan lending app like Empower.

Integrating voice commands for checking balances, initiating loan requests, or setting payment reminders can make your app more inclusive and accessible to a wider audience.

► Blockchain for Transparency

While not every loan lending app needs blockchain, it can be a strong selling point if you’re targeting users who value transparency and traceability.

If you're considering implementing blockchain for transparency in your loan lending app, partnering with a blockchain development company can make a difference.

Blockchain-based smart contracts can automate loan agreements and repayments while giving users a secure, tamper-proof record of transactions.

How Empower-like Apps Make Money?

If you’re exploring how to develop an app like Empower, then understanding the monetization model is as important as figuring out the features.

Let’s break down the most effective ways of how Empower-like apps make money, and how you can adapt them for your loan lending app development project.

1. Interest on Cash Advances

This is the primary source of revenue for Empower, like cash advance apps. When you create a loan lending app like Empower, you offer users short-term loans or cash advances, usually for a small fee or with interest applied over time.

Charging too high interest will push users away, while charging too low can affect your margins.

Successful apps use dynamic interest rates based on user credit scores and repayment history to maximize returns and offer a better user experience.

2. Subscription Plans for Premium Features

Subscription fees can be an effective way to monetize your loan lending app. You can opt for a freemium model in which the basic features are free, but advanced ones come with a monthly or annual subscription.

Further, can introduce a premium plan with higher cash advance limits, faster disbursement, personalized financial coaching, or advanced credit monitoring tools.

Subscriptions create predictable recurring revenue and encourage users to stick with your app long-term.

3. Card-Based Revenue Streams

If you build an app like Empower, you might also consider offering a branded debit or credit card. This allows you to earn through interchange fees every time a user purchases with that card.

Tilt (formerly Empower) uses this model effectively, giving users cashback rewards while earning from merchant transaction fees.

It’s a win-win: users save money, and you make money.

4. Affiliate Partnerships and Cross-Selling

Partnerships with financial service providers can open new revenue channels. After developing a potential user base, you can leverage it to cross-sell other financial products.

Your app could recommend insurance plans, investment accounts, or savings schemes. Every time a user signs up through your referral, you earn a commission.

This is especially effective when the recommendations are AI-driven and highly personalized, making them feel less like ads and more like helpful suggestions.

5. Late Payment Fees

While you shouldn’t rely solely on penalties, late payment fees are a common part of lending models. If structured fairly and transparently, they can help offset the risk of delayed repayments.

However, to maintain user trust, it is important to communicate these fees upfront and charge them only after the grace period.

6. Data Monetization

With proper user consent and data protection protocols, users' financial behavior data can be monetized by offering it to banks, startups, and research firms. 

Selling insights can be a secondary revenue stream, but you must ensure compliance with privacy laws like GDPR and CCPA to avoid legal issues.

7. In-App Ads

While most users don’t want to see in-app ads, still, relevant and non-intrusive ads can work. For example, showing credit improvement services or loan consolidation offers to users who might benefit from them. 

Ensure the ads align with your brand’s purpose, so they feel like value-adds instead of distractions.

How JPLoft Can Help You Develop an App like Empower?

So, if you are planning to build your loan lending app that can stand out from the competition, then choosing the right development partner is most important.

JPLoft is a trusted loan lending app development company with a proven track record of creating secure, scalable, and engaging financial apps.

The expert developers at JPLoft handle the entire journey, from initial concept to app design, development, and post-launch maintenance. Our team prioritizes user experience, ensuring that every screen feels intuitive and every transaction is seamless.

With expertise in modern technologies, including AI and strict compliance with financial regulations, we make sure your money lending app is both revolutionary and trustworthy.

What sets us apart in the industry is our commitment to customization. We don’t believe in one-size-fits-all solutions. Instead, we design and tailor solutions to align with your business goals, whether it’s instant cash advances, AI-powered budgeting, or advanced fraud detection.

Partnering with JPLoft means working with a partner that understands the unique challenges and opportunities in the fintech space and knows how to turn your vision into a product that stands out in the market.

Conclusion

Building a Tilt (formerly Empower) like loan lending app is your chance to step into a booming fintech market with something users might be missing in existing apps. 

Imagine giving users instant access to cash, smart budgeting tools, and a sense of financial control, all from their phone. The journey takes planning, creativity, and technical expertise, but the reward is an app people love and trust. 

The demand is here, the trends are in your favor, and the opportunity is yours to seize. Start today, and make an app like Empower. Who knows?, Your idea could be the next big name in the world of digital lending and personal finance.

Ready to turn your fintech idea into reality? Let’s build your loan lending app together and make it the next big success story.