What is this white paper about?
Per CFPB, 45 million American adults or nearly 1 out of 5 are “credit invisible” or have “thin credit”. These may include college students, gig economy workers, creator economy, married women, immigrants, etc.
For many decades, only banks or credit unions have offered credit builders. Recently, there’s a growing demand of non-traditional players seeing these value propositions:
- Quickly gain customer or employee stickiness
- Wedge into upselling other product offerings
- Increase revenue and brand awareness
- Align with company mission on diversity & inclusion and financial sustainability
In this report, you will learn about the market opportunities for credit builders, key components of a credit builder program, and how to leverage modern tool kits to set up a credit builder program that aligns with your business incentives.