Insight Launches New S.D. Financial Services Company

SIOUX FALLS, S.D., May 13 /PRNewswire/ -- Insight Card Services of Birmingham, Ala. announces the launch of Insight Credit Solutions, headquartered in Sioux Falls, S.D., to complete the prepaid card company's product offerings. Insight Credit Solutions builds upon the initial growth of Insight Card Services to increase the value proposition and overall utility of a prepaid card for consumers.

Trent Sorbe, the architect of the prepaid card industry's first and largest small-dollar credit program, has been named president of the new company. A recognized leader in micro-lending, Sorbe brings years of experience in developing credit products that have garnered unparalleled levels of customer satisfaction and many industry awards. Sorbe is joined by a team of long-time colleagues who combine a deep understanding of the overlooked consumer with broad experience in the prepaid and credit industries.

"Over the last five years, Trent and his team founded a new form of consumer credit, and they are the only group to build it to scale," said Bill Smith, CEO of Insight Card Services. "In every material way, these credit products afforded customers better alternatives to what had been available in the marketplace. Trent and his team are committed to closing the consumer value gap and fulfilling the demand for sensibly-priced, small-dollar loans."   

"When you see customer satisfaction levels eight times that of the banking industry in general, you know that you're on to something," said Sorbe. "Now, we are going to move the needle when it comes to cost, convenience and access."

Insight chose Sioux Falls for two reasons. "We wanted to build around Trent and his team and secondly, Sioux Falls is well-known as a hub for consumer credit companies," said Smith. "The infrastructure and talent pool is geared to support our growth plans. We've already added subject matter experts in marketing, operations, legal and risk to our team, and all of those key positions were filled in South Dakota."  

The company already has plans to expand its call center and data warehousing operations to Sioux Falls before year-end. "New government regulations and a tumultuous economy have nearly stalled almost 30 years of growth in the consumer credit sector in South Dakota," said Sorbe. "We're excited to create new jobs centered on an innovative type of consumer credit that is both fully compliant and financially viable."  

About Insight Card Services and Insight Credit Solutions

Insight Card Services, headquartered in Birmingham, Ala., and Insight Credit Solutions, in Sioux Falls, S.D., have emerged as a leading provider of financial solutions for the millions of overlooked consumers who lack a traditional bank account. Insight provides consumers with a broad spectrum of products and services that address the reality of their financial lives. Insight Credit Solutions' small-dollar credit products are built for scale with the ability to integrate with other program managers' prepaid card offerings. The company's financial literacy tools equip cardholders to successfully manage money while empowering them to take control of their financial future. Visit www.InsightCards.com for more information or email [email protected].

SOURCE Insight Card Services