How Petal’s product strategy extends access to credit through technology – Tearsheet


Ali Heron, Head of Engineering at Petal, joined us last week at our 2021 Convergence Virtual Conference. Heron spoke about Petal’s mission to democratize credit for the underserved and underbanked by launching related products and features.

Heron says about 150 million Americans are now excluded from traditional credit. 50 million American adults have no credit score at all, and tens of millions have limited or inaccurate credit scores. In addition, black and Hispanic consumers are twice as likely to have no credit rating, and young people consistently benefit because “it takes credit to build credit.”

What is Pétale?

Petal is a credit card company that helps consumers build credit by looking at their creditworthiness from a different perspective, primarily through banking history. Instead of using traditional credit scores, Petal uses its proprietary cash flow underwriting technology, Cash Score, to assess a consumer’s income, assets, savings, transaction history and financial volatility. , in order to make underwriting decisions.

“Our mission at Petal is to expand access to opportunity with modern and responsible financial services for all,” said Heron.

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