Former FactorTrust Founder/CEO, Greg Rable, Joins RIBBIT Board of Directors

Rable brings innovative thought leadership to AI-powered bank behavior data company

OXFORD, Ohio, April 12, 2022 /PRNewswire/ -- Today, RIBBIT Inc. announced the appointment of Greg Rable to the RIBBIT Board of Directors. As the former Founder/CEO of FactorTrust, since acquired by TransUnion in 2017, Greg brings over 25 years of management and strategy experience, combined with a history of building successful fintech and alternative data businesses for the consumer finance space. In his role, Mr. Rable is helping guide the RIBBIT leadership team and promote the growth of bank behavior data as a powerful and necessary predictive data solution.

"The pandemic exposed a need for smarter, more comprehensive insights into the financial health of a consumer," said Rable. "As a result, lenders, banks, and financial service providers are looking for alternative data sources to better assess their digital applicants in real-time. I joined RIBBIT because I view bank behavior data as the next generation of financial decisioning and a win-win for both the lender and the applicant."

Evaluating a consumer's bank behavior data has been found to be very predictive of how the consumer will perform in a financial relationship. For example, RIBBIT's bank behavior insights reveal that 47% of consumer finance applicants have unstable income, spending, and identity associations. Reports of fraudulent savings and checking accounts have also increased by 64% since 2020. RIBBIT's AI-network is tracking 500K bank accounts that are actively transacting with 2.5M stolen identities across various financial service providers. These behaviors are used by lenders and fintechs to better evaluate their customers.

"Greg has joined our team during an inflection point in credit and predictive decisioning," says CEO at RIBBIT, Shawn Princell. "The industry's demand to build a seamless application flow and drive financial inclusion resides with bank behavior data, especially since 96% of US households have a bank or prepaid account. Greg's mentorship will strengthen the experience within our leadership team and help us become a world-class alternative data provider."

RIBBIT's newest innovation returns bank stability analytics from a simple API request using basic app information. Financial service providers can now instantly identify account ownership, affordability, risk, and recent fraud behaviors. Combining these capabilities with patent-ending credentialed banking analytics, RIBBIT meets consumers however they want to provide their banking data to empower better financial outcomes.

RIBBIT Inc. | The Bank Behavior Experts

RIBBIT leverages the recency and accuracy of bank behavior to empower financial service providers to make smarter decisions, promote financial inclusion, and reduce fraud. Consumers and small businesses can now use their own bank and payment data to improve access to quality financial services. With AI-powered bank insights, RIBBIT delivers instant actionable intelligence that drives customer acquisition with less friction and more accuracy than traditional tools. Learn more about the Bank Behavior Experts at www.RIBBIT.ai.

Media Contact: Amber Copeland, Sr. Dir. Marketing, [email protected]

SOURCE RIBBIT