Independent lender receives first 50 inclusive Fintech

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AUSTIN, Texas, June 19, 2019 / PRNewswire / – Self Lender is pleased to announce its inclusion in the inaugural list of Fintech 50 inclusive winners. 3 billion financially underserved people. The competition was organized by the MetLife Foundation and Visa Inc., with Accion a nonprofit and a member of the World Bank Group IFC.

In United States, 45 million adults do not report to credit bureaus, while 80 million have a subprime credit rating. Self Lender’s flagship product is the Credit Creator Account, a small dollar CD secured installment loan that helps consumers build credit.

Self Lender is a mobile credit and savings application with a personalized payment plan based on a consumer’s budget. Behind the scenes, however, Self Lender is an open banking platform that creates and services small CD-guaranteed installment loans that are funded by banking partners. Self Lender integrates and serves customers, helps manage compliance, relays data to credit bureaus, and processes all payments through a ledger. To date, 325,000 Americans have increased their credit score by 6 million points and saved more than USD $ 250 million in their Self Lender accounts.

“We are honored to be recognized for our efforts thus far to make credit more accessible to people in the United States who have low to moderate incomes,” said James garvey, CEO of Self Lender. “We’re also excited to join such a diverse roster of like-minded startups trying to improve financial health globally.”

The 50 winners – who were selected from 400 eligible applicants – demonstrate the power of financial technology to expand access, use and quality of financial services in advanced and emerging markets.

Around 30% of the winners provide credit products to underserved segments, and around 25% offer infrastructure solutions such as biometrics software that allow financial institutions to expand access to previously excluded groups. Fintechs offering insurance, payment and remittance services, as well as savings and personal money management tools each accounted for around 15% of the winners.

The winners are listed on www.inclusivefintech50.com/winners.

About Self Lender

Self Lender is a fintech startup with a mission to help people create credit – especially those who are new to lending or who may not have access to traditional financial products. To create credit or for more information, please visit www.selflender.com

SOURCE Self Lender, Inc.

Related links

http://www.selflender.com

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