Thought Leaders in Financial Technology: OppFi CEO Jared Kaplan (Part 5)

Jared Kaplan: The power of the model is that it enables the customers to tell the story. We have done a tremendous job in providing access. We know that because we try to give the business away when someone applies. It’s a time and a process. Let’s say they go to Google and they type,

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Thought Leaders in Financial Technology: OppFi CEO Jared Kaplan (Part 4)

Sramana Mitra: Does that mean that you integrate with their bank accounts or somehow see their bank statements to verify? Jared Kaplan: We have a sophisticated bank verification process in most cases where customers send us their bank data. We take all that data and we do a lot of proprietary data analysis. All of

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Thought Leaders in Financial Technology: OppFi CEO Jared Kaplan (Part 3)

Sramana Mitra: Is this a Software-as-a-Service that you sell to banks, or is it a two-sided marketplace that you plug banks into? Jared Kaplan: We would describe it as a service provided to banks. A bank hires us and asks us to do all the acquisitions.  Sramana Mitra: So you acquire loan customers on behalf

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Thought Leaders in Financial Technology: OppFi CEO Jared Kaplan (Part 2)

Jared Kaplan: I was approached for a CEO job at OppFi. Those don’t come along every day, so I took a closer look. It had been started by a well-known family in Chicago called the Schwartz family. Ted Schwartz had built a successful call center business in the 90s called APAC Customer Services. His son,

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Thought Leaders in Financial Technology: OppFi CEO Jared Kaplan (Part 1)

If you haven’t already, please study our free Bootstrapping course and the Investor Introductions page. Consumer credit is getting destroyed at a furious pace. OppFi helps credit-challenged borrowers access credit and heal their credit scores. Sramana Mitra: Let’s introduce OppFi and yourself to our audience.