Traditional lenders offering consumer loans outperformed financial technology firms in providing guidance, honest communication and reliable technology during the pandemic, according to a new study from J.D. Power.

Overall customer satisfaction with consumer lenders was flat in J.D. Power’s annual 2021 U.S. Consumer Lending Satisfaction Study, with fintech lenders seeing a slight decline in satisfaction and traditional lenders seeing a slight increase.

The study was conducted from December through February and included responses from 2,467 personal loan customers. It measured customer satisfaction with offerings and terms, loan management, and application and approval.

J.D. Power said in a statement that the consumer lending space was severely disrupted during the COVID-19 pandemic, citing the effects of stimulus funding, record high mortgage refinance volume and a tenuous economy on the consumer loan market.

“The consumer lending landscape shifted dramatically over the past year and consumers need to understand that this shift will be permanent,” Jim Houston, managing director of consumer lending and automotive finance intelligence at J.D. Power, said in the statement. “To attract and retain customers, personal lenders need to deliver easy-to-use technology and adapt communication channels to market demands.”

According to the 2021 study, customer satisfaction with the personal loan industry was flat, scoring 858 on a 1,000-point scale. Fintech lenders saw their overall satisfaction scores decline by 5 points this year, J.D. Power said, because of slower application approval times and tighter credit criteria. Traditional bank and credit card-branded lenders saw overall customer satisfaction scores increase by 4 points.

Trust in lending partners increased year-over-year even as the pandemic forced lenders to change how they did business, J.D. Power said. This increase in trust reflected in particular on traditional lenders. These institutions significantly outperformed fintechs in several areas, according to the study, including putting the customer first, providing guidance, aligning with the customer’s social views, providing honest communication, treating people fairly and providing more reliable technology.

Easy-to-use websites and mobile apps gained even more importance during the pandemic, J.D. Power said, as lenders were forced to rely on digital tools, especially traditional lenders. The study found that fintech customers were more likely to use their personal computer for consumer loans, while traditional lenders relied on mobile applications.

“No matter how they were accessed, secure and easy to use sites were high on consumer wants, as they continue to compare site use against all of their other web interactions,” J.D. Power said.

American Express and Discover ranked highest among personal loan lenders in overall customer satisfaction, with a score of 874, followed by Citi with a score of 864.