app-based financing

App-based financing refers to the process of obtaining loans or credit through a mobile app or digital platform. Instead of visiting a bank or credit institution physically or over a website, you use a smartphone app to apply, get approval, and manage your loan or credit. These apps often use algorithms and digital data to assess your financial behavior quickly, providing faster decisions and access to funds. Common examples include buy now, pay later services, personal loans, or credit lines accessed via financial apps. This method offers convenience, speed, and real-time account management, making financing more accessible and straightforward.