Avant Announces Prominent Academic Dr. Janice Eberly and Chicago Financial Leader James Reynolds, Jr. as New Board Additions

CHICAGO, Sept. 28, 2018 /PRNewswire/ -- Avant, a leading digital consumer lending platform focused on lowering the barriers and costs of borrowing, today announced the addition of Dr. Janice Eberly and James Reynolds, Jr. to its Board of Directors effective January 1, 2019. Both bring to Avant decades of experience working at the intersection of finance, technology and regulation and will be valuable in guiding the company into the future.

Dr. Janice Eberly

Professor Eberly served as the Assistant Secretary for Economic Policy at the U.S. Treasury from 2011 to 2013 after being confirmed by the U.S. Senate. In that role, she was the Chief Economist at the Treasury, leading the Office of Economic Policy in the analysis of U.S. and global financial markets and the development of policy recommendations on micro and macroeconomic issues. Eberly returned to Northwestern's Kellogg School of Management in 2014, where she is currently a distinguished professor of finance and former chair of the finance department. Prior to joining the Kellogg faculty, she was a faculty member in finance at the Wharton School of the University of Pennsylvania.

"I am a big supporter of Avant's vision," said Eberly, whose research focuses on finance and macroeconomics. "Providing responsible and reliable credit products to middle class consumers is a critical need for this country, and Avant leads with both deep industry expertise and an innovative platform. I look forward to working on the Board of Directors and with the Avant team, lending my expertise to help provide consumers with transparent and convenient credit products."

James Reynolds, Jr.

Reynolds is founder, chairman and CEO of Chicago-based Loop Capital, which provides global investment banking, brokerage and financial advisory services. A 30-year veteran of the financial services industry, Reynolds held several senior-level positions on Wall Street prior to founding Loop Capital in 1997. He is a passionate advocate of giving back to the community and sits on various not-for-profit Boards including the Chicago Urban League, Chicago United and buildOn.

"Avant is changing the definition of customer service while significantly improving access to credit," said Reynolds. "Avant's platform inherently creates financial inclusion, helping to provide credit access to underserved communities, including those that are losing bank branches. Avant is the model for responsible innovation and I'm excited to work with Chairman and CEO Al Goldstein and the entire Avant team to drive this growth forward."

After tremendous service to Avant, board members Sheila Bair and Adam Jiwan will transition off the board to allow time for other passions.  Bair, who is the former Chairwoman of the FDIC and has served on the Avant Board since April 2016, is stepping down to allow more time for new opportunities to work in the nonprofit sector on student debt and other issues associated with the economic future of young people. "The Avant board and management team are well-positioned," said Bair. "I wish them every success in making responsibly priced credit available to underserved populations, including through bank partnerships with the recently announced Amount business, which gives banks access to Avant's industry-leading online platform. I am particularly pleased that they will also be launching a consumer savings product to help consumers better manage their personal finances. I see a future where banks and fintech companies come together to better meet the needs of American consumers and fully anticipate that Avant will continue to lead the way."

Similarly, Jiwan will transition to focus full-time on his role as Chairman and CEO of Spring Labs, a blockchain-based identity and credit network. "Avant is a pioneer of delivering unique technology and credit analytics to underserved consumers. I wish Al and his team the best of luck in their next chapter of growth. The journey is just beginning for Avant and Amount, and the future is very bright," said Jiwan.

About Avant

Avant is a high growth financial technology company first and foremost dedicated to creating responsible financial products for all consumers. Avant has secured more than $4 billion in institutional funding and has issued over 750,000 personal loan, auto loan and credit card products through its technology platform. Avant has been featured in publications such as The Wall Street Journal, The New York Times, TechCrunch, Fortune, Bloomberg and Crain's Chicago Business. In 2015, Avant was named to Forbes' America's Most Promising Companies list, as well as Forbes' list of Next Billion Dollar Startups. Find out more at www.avant.com.

About Amount

Amount provides financial institutions with a range of products and services designed to deliver a seamless digital and mobile customer experience. Amount includes configurable end-to-end lending products, standalone engines, marketing, risk and data/analytics services, and CRM and portfolio management tools. The Amount platform leverages the technology, intellectual property and capabilities of Avant's industry-leading digital lending platform. With Amount, banks now have access to a fully customizable platform that includes tools for credit decisioning, fraud prevention, account verifications, risk assessment, marketing and customer acquisition and more. For more information, visit www.amount.com.

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SOURCE Avant