FORT WORTH, Texas--(BUSINESS WIRE)--Elevate Credit, Inc. (“Elevate”), a leading tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, has been named as one of six finalists in the “Excellence in Financial Inclusion” category for the LendIt Fintech Industry Awards 2018. This award is given to the company that has made the biggest impact in expanding access to financial services in new and innovative ways.
“We are very excited to be recognized by LendIt for our continued efforts in advocating for the underbanked and the financially excluded,” said Ken Rees, CEO of Elevate. “Today, about two-thirds of Americans are unable to access traditional credit products like loans and credit cards that are vitally important to their everyday lives. By offering products that relieve immediate stress and help customers build a brighter financial future, we have successfully helped bring financial inclusion to nearly two million Americans.”
Elevate is a leading provider of responsible online credit products for non-prime consumers (credit scores below 700). Unlike payday or title loans, Elevate's products are designed to bring people into the financial system and are priced at significantly more affordable rates. Elevate’s products provide customers a “prime-like” experience by offering things like rates that go down after time, free credit score monitoring and free online financial literacy courses.
A judging panel of journalists, technologists and other industry experts selected the finalists, recognizing companies across 22 categories including Excellence in Financial Inclusion, Top Emerging Technology Company, and Fintech Innovator of the Year. Winners will be evaluated by the same judging panel of industry experts and announced during the LendIt Fintech Industry Awards Dinner on April 10th in San Francisco.
This recognition comes on the heels of recent financial inclusion milestones for Elevate. The Company recently announced more than 140,000 customers of its RISE product have seen an improvement in their credit scores, and more than $3 billion in customer savings, versus what they would have paid for payday loans.
“We are honored to be recognized alongside other companies that are making a difference in the lives of consumers, and we look forward to the LendIt Awards in April,” said Rees.
Elevate (NYSE: ELVT) has originated $5.2 billion in credit to more than 1.9 million non-prime consumers to date and has saved its customers more than $3 billion versus the cost of payday loans. 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.