FORT WORTH, Texas--(BUSINESS WIRE)--
Following a successful IPO in April, Elevate Credit CEO Ken Rees has been named to Bank Innovation’s “2017 Innovators to Watch” list, underscoring the company’s unique technology-driven approach to helping non-prime Americans access credit and build financial health.
“Ken has shown vision and leadership for this company since day one. His leadership has been driven by his passion for helping non-prime consumers improve not only their immediate situations but also their long-term financial outlooks. We are excited and proud that he has received this well-deserved recognition,” said John Rosenberg, Lead Director of Elevate’s Board of Directors.
Elevate was founded to help give credit to non-prime Americans (those with credit scores below 700) who cannot get credit from other sources like banks. Rees and the founding team of Elevate saw a gap in the market: as money continued to pour into innovating for prime Americans (those with 700+ credit scores, who have plenty of options), non-prime Americans were still lacking options. By leveraging the best in machine learning and underwriting tactics, combined with a team of world-class data scientists and underwriters, Elevate has originated $4 billion in credit to more than 1.6 million non-prime consumers to date.
Elevate’s suite of tech-enabled, responsible credit products includes RISE, an installment loan product that helps Americans smooth cash flows and avoid financial crises; Elastic, a bank-issued line of credit that helps people stretch their paychecks and draw upon it only when needed; and Sunny, a responsible online credit product serving the UK.
“I’m thrilled and humbled by this recognition because this is an honor for Elevate as a whole,” said Rees. “Our mission is to help get credit in the hands of those who need it most and help them improve their financial health, and I could not be prouder of what our team has built.”
About Elevate
Elevate (NYSE: ELVT) has originated $4 billion in credit to more than 1.6 million non-prime consumers to date. Its responsible, tech-enabled online credit solutions provide immediate relief to customers today and help them build a brighter financial future. The company is committed to rewarding borrowers’ good financial behavior with features like interest rates that can go down over time, free financial training and free credit monitoring. Elevate’s suite of groundbreaking credit products includes RISE, Elastic and Sunny. For more information, please visit http://www.elevate.com.
Follow Elevate:
Twitter: @elevatecredit
Facebook:
facebook.com/ElevateCredit
LinkedIn:
linkedin.com/company/elevate-credit
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