WAYNE, PA — PowerPay has been named Best LendTech Solution in the Consumer Lending category at the 2026 Banking Tech Awards USA, recognition that comes as lenders and financial technology firms compete to expand access to financing for consumers facing elevated borrowing costs and persistent inflationary pressures.
The Wayne-based financial technology company received the award from FinTech Futures for its embedded point-of-sale financing platform, which provides financing options for home improvement projects and healthcare-related expenses. The company said the platform uses artificial intelligence to support lending decisions and streamline access to credit at the point of purchase.
The Banking Tech Awards USA, now in its fifth year, recognize technology providers, banks and fintech firms for innovation across financial services.
PowerPay’s platform is designed to connect consumers, contractors and healthcare providers with lending options through a digital financing process that includes instant credit decisioning.
Chief Executive Officer Mike Petrakis framed the recognition against a backdrop of economic pressure facing consumers.
“In a heavily constrained economy where homeowners are feeling the squeeze of inflation and locked-in mortgage rates, accessing responsible capital for critical purchases has never been more important,” Petrakis said.
The company said its lending platform focuses on providing financing for essential purchases, particularly in the home improvement and patient-financing sectors, where consumers often face large upfront costs.
PowerPay characterized the award as recognition of its efforts to modernize lending infrastructure through embedded finance technology, which allows financing options to be integrated directly into merchant sales processes.
The company added that its platform is designed to emphasize consumer protections, transparency and responsible lending practices while helping merchants offer financing solutions to customers.
The Banking Tech Awards USA are organized by FinTech Futures and honor companies developing technology products and services across the banking and financial technology sectors.
Support the local news that supports Chester County. MyChesCo delivers reliable, fact-based reporting and essential community resources—free for everyone. If you value that, click here to become a patron today.