Elevate Credit, a tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers, announced the appointment of Brian Biglin as the chief credit officer, effective immediately. Elevate also granted inducement stock awards as part of Mr. Biglin’s employment.
Mr. Biglin joins Elevate after almost 25 years of leadership in the areas of risk management and operations, financial product management, financial technology platforms and financial consulting services. He served as the chief credit officer at Bill Me Later when it was acquired in 2008 by PayPal.
He continued until 2014 as the chief credit officer at PayPal, where he helped grow the portfolio from $400 million to $6 billion and managed credit through the Great Recession. Mr. Biglin subsequently was chief risk officer at loanDepot.com and Intuit. At loanDepot he built a new consumer lending platform and helped create the first personal loan securitizations for the company; at Intuit he reduced fraud losses, improved customer experience, overhauled operations and increased efficiencies.
Prior to PayPal, Mr. Biglin held various risk and business intelligence roles at Hitachi Consulting, Microsoft Corp. and Exterra Credit Recovery. Most recently, Mr. Biglin was CEO of Pacific Credit Group. He received his B.S. in Finance from the Marriott School of Management at Brigham Young University.
Mr. Biglin now leads Elevate’s technology and proprietary risk team, including some of the most advanced thinkers in risk analytics and machine learning for hard-to-underwrite consumers – with more than 35 data scientists, more than 25 of whom have advanced degrees and eight with PhDs. He oversees Elevate Labs, Elevate’s advanced analytics center of excellence headquartered at its state-of-the-art facility in San Diego and spread across four offices in the US and the UK. Elevate invests more than $40 million annually in advanced analytics, data science and the technology that underpins it.
“The need for credit innovation has never been greater, given the state of American and British consumers who can’t access traditional forms of credit, so we are thrilled to have someone with Brian’s deep experience leading our efforts to bring better options to the marketplace,” said Elevate CEO Ken Rees. “We have a strong team that has developed very successful credit models that continue to improve our credit quality at impressive levels. I know they will excel even further under Brian’s great leadership.”
“I’m impressed with Elevate’s leadership in using non-traditional measures of creditworthiness and advanced analytics to look at customers through a different lens as well as the company’s passion to bring product innovation and delivery when and where customers need it most,” Mr. Biglin said. “I’m excited to help this great team build on Elevate’s strong record of innovating to deliver responsible products that give access to credit and transparency to customers while meeting rigorous regulatory standards.”