CHICAGO, Dec. 14, 2017 /PRNewswire/ -- Braviant Holdings, a leading fintech startup that offers analytics and technology-driven credit solutions for underserved Americans, is now offering personal loans up to $10,000 in California through its Chorus Credit online lending platform. Chorus will complement Braviant's existing installment lending business, Balance Credit, by offering higher loan amounts at lower rates to the estimated 26% of California consumers who are underserved by traditional banks.

A recent research study conducted by TransUnion found that fintech companies like Braviant are now fulfilling nearly a third of the $80 billion U.S. personal loan market, up from just 1% in 2010. A large majority of these fintech companies, including the most prominent marketplace lenders, target prime consumers with above average FICO scores. Chorus has a different mission and will work to promote financial inclusion and expand credit access to a broader spectrum of middle America often classified as 'near prime'.

"Too many hardworking Americans have been underserved by mainstream financial institutions since the Great Recession," said Thomas Ervesun, President of Chorus. "With our newly launched personal loan business, consumers can apply online anywhere, anytime to access a simple, convenient borrowing experience – perfect credit not required."

To bring Chorus to life, Braviant brought together a dedicated launch team to build a cutting-edge technology platform that is nimble and scalable. The new platform was architected by a small group of in-house engineers led by Chief Technology Officer, Bob Sides. Prior to joining Braviant, Bob designed and launched an online deposit platform for GE Capital Bank that was acquired in 2016 by Goldman Sachs.

Sides's experience bringing traditional banking into the digital age, combined with a broader management team that is heavily comprised of near prime lending veterans, will be a key differentiator as Braviant works toward a national rollout for Chorus. CEO Stephanie Klein previously launched NetCredit, a near prime personal loan business offered by Enova International that originated just shy of $1 billion unsecured installment loans from its 2012 inception through Q3 2017. Chief Analytics Officer Travis Gonzalez is also no stranger to near prime lending, having previously led credit risk modeling for Springleaf Financial's $6B+ consumer loan portfolio. Braviant's remaining executives round out the team with extensive consumer lending expertise in Finance, Operations, Legal and Compliance.

About Braviant Holdings
Braviant Holdings is a Chicago-based fintech company that uses advanced analytics and proprietary technology to streamline the borrowing process and transform how people access credit online. Braviant's rapid growth since inception is a testament to the company's ability to develop innovative credit products that look beyond a traditional credit score to help deserving consumers build a better financial future.

SOURCE Braviant Holdings

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