Credit bureaus relying on outdated third-party data are only getting a small piece of the puzzle, Georgina Merhom says.
User-permissioned data sources, that consumers provide with their permission, come from a variety of places.
In addition, user-permissioned data sources replace the self-reporting process, brokers trust between the institution and consumer and identifies opportunities that the bank would have otherwise overlooked, Merhom said.
Building a better credit bureau or finding new ways to verify data from people without a lot of credit is not a new concept.
“It costs banks $29 billion a year to process applications, and that’s not even including the money they pay credit bureaus,” Merhom said.
It’s no surprise that after ten years, Parachute, the home lifestyle brand, stands as the dust settles from the direct-to-consumer boom.
Founded by Ariel Kaye in 2012, Parachute has developed a loyal customer base because of its high-quality bedding, towels, and robes.
Naturally, TechCrunch wanted to see what it has been like managing the DTC boom these past few years and brought Kaye onto our podcast Found to chat about it.
“From the moment we launched, we just kept hearing, ‘I’ve been waiting for a brand like this,” she told us.
She learned to manage logistics, hire a team, and find a network of other entrepreneurs who could support her during the highs and lows of — wait for it — being a solo founder.
Despite raising over $70 million from over 200 investors in 2017, Vibe Capital founder Ankur Nagpal is shrinking the fund side of the company by roughly 43%. The move, which…
Rodney Williams, co-founder and president of SoLo Funds, told TechGround that the acquisition will give SoLo “the largest and first Black-owned personal finance platform” to do so. The service has…
