TomoCredit Hires Experian's Former CTO Who Led Open Banking Solutions & LegalZoom's Former CEO for Key Leadership Roles

LAS VEGAS, Oct. 29, 2024 /PRNewswire/ -- TomoCredit, an innovative AI fintech startup founded by immigrants to enhance credit accessibility for millions of Americans lacking credit history, announced today the appointment of Joseph Lindsay as Chief Technology Officer and John Suh as Executive Director.

Joseph Lindsay, previously Open Banking Chief Technology Officer at Experian, offers extensive experience in open banking and data initiatives. John Suh, former CEO of LegalZoom, is recognized for his ability to lead high-growth companies and drive substantial revenue growth, leading to successful IPO.

Joseph Lindsay's expertise in open banking will be pivotal for TomoCredit as it continues to expand its proprietary CashScore, known as TomoScore, which was launched in 2019. TomoScore builds a unique underwriting model that leverages real-time cash flow data, allowing lenders to assess individuals who lack a traditional credit history. Since its inception, TomoCredit has successfully amassed data from over 4 million consumers on its platform, demonstrating its commitment to finding alternative ways to underwrite creditworthy individuals.

Lindsay shared his enthusiasm for joining TomoCredit and stated, "I am excited to contribute to a company that is redefining credit accessibility. TomoCredit's innovative approach to leveraging open banking data aligns perfectly with my passion for using technology to drive financial inclusion. Together with the talented team at TomoCredit, I look forward to enhancing our services and making a meaningful impact on consumers' lives."

Executive Director John Suh's appointment is expected to further accelerate TomoCredit's growth trajectory. With a proven track record for taking companies from concept to over $100 million in revenue, Suh's leadership will help guide the startup in scaling its operations and reaching a broader audience. His experience raising significant capital will also be invaluable as TomoCredit seeks to expand its influence in the fintech landscape.

TomoCredit Founder and CEO Kristy Kim said "We are so happy to have John and Joseph joining the TomoCredit team, to help more underserved groups get access to the essential credit they need through the power of sophisticated AI innovation. In the world of AI and open banking, the data belongs to consumers and consumers have regained ownership of their data. As Tomo customers benefit from Tomo's AI models and tools, their financial capability improves and not only do they gain access to additional financial products, but those financial services firms gain access to them. It's a win-win for everybody."

TomoCredit's mission to enhance credit accessibility is particularly crucial in a landscape where over 62 million Americans have little-to-no credit history. Traditional credit scoring models often exclude these individuals, making it difficult for them to secure loans. By focusing on real-time cash flow data and innovative underwriting practices, TomoCredit is paving the way for a more inclusive financial future.

About TomoCredit Founded in 2019 by Kristy Kim, TomoCredit is a champion for financial inclusion. TomoCredit is transforming the credit industry, offering solutions to establish a robust credit history for those considered "credit invisible" – including new U.S. citizens without prior credit history, small and medium-sized business owners, students, and other young adults who demonstrate sound financial practices.

Through its innovative TomoScore system, TomoCredit utilizes real-time, cash-flow based performance data as an alternative to traditional credit scores. TomoCredit is now providing its proprietary TomoScore system to businesses and financial institutions seeking to evaluate the creditworthiness of high-quality borrowers who may not have a traditional credit score.

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SOURCE TomoCredit