How to Test a Money Lending App? All The Answers to Your How-to’s

/ 6th March, 2023 / Best Practices
How to Test a Money Lending App? All The Answers to Your How-to’s

Lending applications are gaining increasing popularity among millions of users globally. According to recent statistics, the number of fintech startups has reached 5,779 in the Americas, 3,583 – in EMEA (Europe, the Middle East, and Africa), as well as 2,849 in the Asia Pacific Region. 

What is more, the amount of digital payments has grown to a whopping $6,699,201 and the number is still growing. The volumes of personal financing, alternative lending, and alternative financing are also booming in many countries. As a result, loan lending mobile app development became one of the most promising segments for many companies. But what is the best approach to loan lending mobile app testing? 

Money Lending App: Basic Facts


Personal loan applications, also known as lending apps, are digital products, developed for portable devices (smartphones, tablets, etc.) that allow users to apply for a loan with no need to visit banks or other types of financial institutions in person. If you need money for a large purchase, pay a bill, or consolidate your debt, this type of service might help you get funds within the shortest terms. 

How Do Cash Lending Apps Work?  

Most apps to lend money are easy to use and understandable. Developed for users with different technical backgrounds, the applications should be clear enough and not require any advanced knowledge of banking or financial systems. 

Money lending digital products come with various features and operational principles. However, all of them are designed to help a user get more money (loan) for a certain period of time. The amount of money available for a loan depends on the users’ credit history, state of residence, and other parameters. In most cases, the borrower will need to pay certain interest to a lender to get the money/loan.

What Types Of Loans Do Lending Applications Offer?

  • Personal: this type of lending is also known as a consumer loan. The borrower lends money for personal needs. As a rule, applying for it doesn’t require security or collateral. Moreover, it is offered with minimal documentation. 
  • P2P (Peer-to-peer lending): lending apps of this type are marketplace platforms that allow participants (individuals) to lend and borrow money to individuals or businesses with no engagement from conventional financial institutions.
  • Business: business loan apps are developed for small business owners who require extra money from time to time. To get money using this digital product, a company will need to share some detailed information about its major area of business, financial results, and plans. 
  • Microloans: these are small loans for business purposes with short repayment terms. In most cases, the sum of money available for borrowing doesn’t exceed $50,000. 
  • Payday (cash advanced): This type of short-term but high-cost loan (annual interest rate can reach 35%) offers users to borrow up to $500. In most cases, it is due on your next payday. 

Top Popular Lending Applications 

  • EarnIn: the loan lending service that offers users to borrow up to $100 per day with no interest or fees. A credit check is not obligatory; users can send money to their bank account in seconds (for a reasonable fee), or get it in a few business days at no cost.
  • Brigit: a money-borrowing digital product that can help users receive from $50 to $250 with no interest charges. However, the users will need to meet the app’s eligibility requirements and pay a certain regular fee for using a service. 
  • MoneyLion: another popular app that offers users get money without any credit check. The app also provides customers with various opportunities not only to borrow but also to save, earn, and invest money. 
  • Chime: an app for easy online banking with advanced options for earning money with no monthly fees and a fee-free overdraft. 
  • SoFi: this digital product is an advanced solution that allows customers to receive personal, private student, and mortgage loans, as well as other types of financial services. 
  • CashApp: this app is focused not only on microloans but also on services of buying stocks and bitcoin, banking, and various lending options. 
  • Kiva: This product is a digital solution for applying for a loan that doesn’t require a minimum credit score, collateral, or numerous cash flow documents.

Why Is Loan Lending App Testing More Important Than Testing Other Apps Types?

Any modern test of a loan app requires an advanced check-up of all its features and parameters. This is because most products of this type deal with vast volumes of confidential data that should be securely protected. 

Any modern loan application contains a number of must-have modules that should be flawlessly functioning:

  • Loan application process: it is important to check whether all the required data is collected on the lender, the types of documents received, and other critical information.
  • Loan approval process: the process of making a decision of whether the user is allowed to get a loan. This might include a bunch of technical parameters related to the criteria for receiving a loan or other financial service. 
  • Loan processing: this is a complex process that usually operates with dozens of various parameters, including the sums of loans, interest rates, deadlines for paying off the loan, and other data. 

Loan apps deal with money and require the most precise testing to make sure neither lender nor borrow will lose a cent. What is more, the regulations in the financial and banking sector might be different in different locations. Consequently, it is necessary to check whether an application meets all of them in any location from its target audience. 

Like the other types of apps, a loan application might be negatively impacted by third-party factors, including the device’s dried-out battery, network issues, and others. If the users face any issues with using the money landing app, they will not rely on it and will likely switch to a more trustworthy digital product. 

Types Of Testing To Check A Loan App 

First of all, loan app testing must include the following types of functionality and user-journey testing: 

  • The process of registration;
  • User profile: basic features and advanced options;
  • Loan application form: the process of filling in and sending a form, obligatory fields, and types of data that can be added;
  • Payments log: checking the status of each transaction and updating the statuses;
  • Notifications: setting up and receiving notifications on the most important operations and processes;
  • Payment options: types of payments available, currencies, using fresh currency rates, etc.
  • Chatbot: the ability of users to get help when using the app. 
  • Geolocation: the languages, currencies, time, and date, as well as other geo-based features;
  • Credit Score and assessment: the process of checking the user’s credit score and other critical financial parameters. 
  • Payment schedule: check whether the interest rate is correct.
  • Types of required signatures and their formats.
  • Balance update: show a new balance each time a payment is made.
  • Checking possible issues: what happens if the user pays more/less in a single transaction, what happens when missing a payment, end of the loan, and other conditions. 

Second, the quality assurance process should also include the following must-do types of testing: 

Importance of Good Test Cases and Scenario Writing 

Testing a loan application requires checking multiple scenarios of functionality. It is critical to creating a good test case document to test all possible business scenarios to ensure there are no surprises once the app goes live and to production. In other words, the testing scope is very diverse and complex. 

It is highly recommended to use a professional team of experts to write test cases for any type of financial or lending app to make sure the digital product will meet all the legal requirements, perform well in different conditions, and have perfectly operating financial processes. 

How to Implement Money Lending App With Crowd Testing

Crowdtesting remains one of the most effective solutions for testing money lending applications. The biggest advantage of crowdtesting is an opportunity to get a digital product tested on real devices by users with real documents (ID cards, passports, social security cards, etc.) that are used for checking the user’s identity and credit history. 

Crowd testing also has a number of additional benefits, including the following:

  • Scalability – it is easy to get more experienced quality assurance engineers to complement your team. 
  • Faster testing – the more testing professionals you have, the better and faster results you will likely get. 
  • Flexibility – get help from QA experts right when you need it (before the release, updates, or other important deadlines)
  • Cost-effectiveness – take an advantage of using a budget-friendly solution. 

Crowdtesting will allow you to detect the bugs and issues that dramatically impact the app’s performance and user experience, as well as test your digital product in real-life environments by real people from any target country. 

All the tests are performed by professional quality assurance engineers. They can easily detect all the flaws in a money-lending app and provide you with detailed reports. It is also possible to test your app on various devices and operating systems, as well as under stress. 

Furthermore, a good crowd-testing company has the needed expertise and domain knowledge to write good test cases and scenarios that will cover all business potential aspects. This is extremely important in lending and other types of financial or banking apps.


A lending application might be impacted by various parameters, such as an operating system version of the device, a dried-out battery, incoming calls, and other apps that can be running along with the app. Therefore, it is crucial to test this type of application on as many devices and environments as possible. 

It is necessary to keep in mind that testing a lending app has some critical differences from testing other types of digital products. It is more complicated and requires covering numerous scenarios. What is more, a lending app deals with money, so all the processes should be tested with maximum focus. The fact is that even the smallest mistake in the process of applying for a loan, calculating interest rates, specifying deadlines, or making transactions might lead to serious consequences and significant monetary losses. 

Checking the app by QA professionals who can perform actions as real users minimizes all these risks. Professional crowd testers can apply for a loan, upload real documents to check a credit card history, and use other advanced app features to make sure your app is fully operational and secure. 

Because of the complexity, numerous financial operations, and documentation check-ups, it is always a good idea to use testers with domain expertise in finance and accounting. Crowd testers can find such experts for you to make sure your app is working well both from technical and financial sides. 

Crowd testing provides many advantages – it is considered one of the best services to check money lending, banking, and financial applications. With experts in accounting, finance, and testing fields, your digital product will be checked on full-scale. 

Want to know more about crowdtesting services, offered by Ubertesters? Contact us at for more details.


Get in touch

Want to hear more on how to scale your testing?


Get in touch, fill out the form below, and an Ubertesters representative will contact you shortly to find out how we can help you.


Want to see the Ubertesters platform at work? Please fill out the form below and we'll get in touch with you as quickly as possible.

Estimate your testing costs

Fill out a quick 20 sec form to get your free quote.

Thank you for contacting us

We will get back to you within 24 hours.

Meanwhile, follow us on Facebook or LinkedIn and see what we are up to.

Sorry, an error occurred

Please try again later.