WAYNE, Pa. — May 28, 2026 — PowerPay has won Best LendTech Solution in the Commercial Lending category at the Fintech Futures 2026 Banking Tech Awards USA. Now in its fifth year, the Banking Tech Awards USA recognize excellence and innovation across the banking and fintech sectors.
The recognition follows a period of sustained growth for the company, which has processed over $8 billion in consumer loans across all 50 states since 2018 and $6 billion in annual volume, outpacing traditional banks. PowerPay’s proprietary AI-driven underwriting engine delivers instant credit decisions embedded directly into provider workflows, enabling consumers to apply, receive approval, and complete financing for home improvement and healthcare purchases in seconds. The platform handles origination, funding, and servicing end-to-end for more than 12,000 network contractors and physicians, supported by team members across continents to maintain 24/7 operations.
“We built every component of this platform in-house because the problem demanded it,” said Mike Petrakis, Founder and CEO of PowerPay. “Home improvement and healthcare represent over $400 billion in annual spending that traditional lenders won’t touch. The origination costs are too high, the collateral models don’t apply, and banks don’t maintain the provider networks required to reach these consumers. Our technology closes that gap at the point of sale — where the financing decision actually happens.”
PowerPay’s in-house technology stack enables the company to move new lending products from concept to market in days. Recent launches include a fast-closing HELOC and PowerPay 360, a 12-month interest-only product built in 30 days that converts to standard amortization over 14 years, in response to inflation pressuring consumer budgets. The platform’s underwriting models analyze thousands of data points beyond traditional FICO scoring, incorporating transaction-level insights from millions of processed loans to distinguish project-based borrowing risk from revolving consumer debt.
Institutional confidence in the platform’s performance has translated into $2 billion in forward flow commitments, $500 million in warehouse capacity, and an unrestricted securitization platform. Capital partners include KeyBank, Synovus Bank and Nearwater Capital, as well as FinWise Bank. The company achieved 400% year-over-year loan volume growth driven by market demand across its dual verticals.
This recognition is the latest in a series of honors for the company. PowerPay recently earned seven Top Workplaces Culture Excellence awards from Energage, spanning categories including Innovation, Leadership, and Employee Well-Being.
About PowerPay
PowerPay is a leading financial technology platform headquartered in Wayne, PA, that provides point-of-sale financing solutions for 12,000 contractors and physician networks. Utilizing a proprietary AI-powered platform that recently helped achieve the milestone of processing nearly $13 billion in consumer loans.
Media Contact
Britni Ackrivo
Gregory FCA for PowerPay
backrivo@gregoryagency.com
