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Avant's Credit Card Surpasses 600,000 Customer Milestone
Thursday, June 24, 2021
Easy, accessible Avant Credit Card fills critical market need for consumers with little or no access to credit
CHICAGO, June 22, 2021 /PRNewswire/ -- Avant, a leading financial technology company that gives middle-income consumers access to the credit they deserve, announced today that it has surpassed 600,000 Avant Credit Card customers. By filling a critical market need for transparent, affordable credit among consumers who have been underserved in the traditional financial services marketplace, the number of Avant cardholders has grown 180% this year.
"This is an incredible milestone for Avant and our customers," said Debtosh Banerjee, vice president of Credit Card for Avant. "The rapid growth of the Avant Credit Card is evidence of a clear and critical need among underserved Americans for transparent credit products to help them build credit without punishing them with high fees and unreasonable terms, and it is our mission to help fill that need."
For the 53 million U.S. consumers who are unable to access credit because they have non-existent credit histories, highly punitive products are often the only option. The Avant Credit Card, however, offers competitive rates and a fast and easy application process for consumers with little to no credit.
From day one, Avant has worked to become the premier digital banking platform for consumers who fall outside of the traditional standards of creditworthiness. With the recent acquisition of Zero Financial, Inc., Avant is uniquely positioned to use data across its product portfolio to make credit decisions faster and deliver personalized options to help underserved and thin-file consumers gain financial freedom at any and every stage of their financial journey. Today, Avant is exploring ways, such as rewards, to provide underserved consumers with high-end digital experiences that have historically only been available to prime customers.
"Avant is built on the philosophy of helping people build credit," said Banerjee. "We expect to further extend our reach by using data across our portfolio of products to give consumers a transparent path to financial health through a high touch and positive experience, even if they have little to no credit."
About Avant
Avant provides a full ecosystem of digital banking products, including deposits, personal loans, and credit cards, to everyday American consumers. Through a combination of technology, analytics and superior customer service, Avant gives underserved and unbanked consumers access to credit with innovative and rewards-based products that simplify and improve their financial journeys. Since 2012, Avant has connected 1.7 million customers to $7.5 billion in loans and to 600,000 credit cards. A high-growth financial technology company, Avant has been featured in The Wall Street Journal, The New York Times, TechCrunch, Fortune and Bloomberg, and has raised over $650 million of equity capital. Visit avant.com for more information.
Avant-branded credit products are issued by WebBank, Member FDIC. Avant, LLC is a financial technology company, not a bank. Banking services are provided through Evolve Bank & Trust, Member FDIC.
Media Contact:
Jenn Pratt
Keeton PR
404.655.2273
View original content to download multimedia:http://www.prnewswire.com/news-releases/avants-credit-card-surpasses-600-000-customer-milestone-301316909.html
SOURCE Avant
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