Avant Credit Card Joins Top 100 U.S. Visa/Mastercard Credit Card by Nilson Report
The AvantCard makes a debut ranking and garners recognition as a top credit card for the underbanked consumer
CHICAGO, Oct. 6, 2021 /PRNewswire/ -- Avant, a leading financial technology company that gives middle-income consumers access to the credit they deserve, was named in the Top 100 U.S. Visa/Mastercard Credit Card Issuers in the latest Nilson Report. The Avant Credit Card, which is issued by Avant's bank partner WebBank, made a debut ranking based on both purchase volume and outstandings secured.
Rankings were compiled as of June 30, 2021 and include consumer, business, and commercial card usage, including virtual and one-time use cards, for the first half of the year. The Nilson Report tracked the Avant Credit Card outstandings at 117% growth and the number of cards issued at 157.9% growth over the same period in 2020.
"We are honored to be recognized for our growth as a leading fintech providing alternative credit options for underbanked consumers," said Matt Bochenek, CEO of Avant. "Avant was created to help people build financial health through transparent, accessible financial options. Being named in the Nilson Report is a testament to the value of that mission and the impact of our hard work on behalf of customers."
Avant was founded with the mission of becoming the premier digital platform for consumers who are underserved by traditional banks. For the 53 million U.S. consumers who are unable to access financial products and services because they have non-existent credit histories, highly punitive products are often the only option.
The Avant Credit Card comes with no deposit required and zero fraud liability for unauthorized charges. Customers can access competitive rates through a fast and easy application process, and manage their account in a user-friendly mobile app.
Since introducing the Avant Credit Card in 2017, Avant has facilitated $500 million in credit and $700 million of purchases through 800,000 credit card customers. Since 2012, Avant has also connected 1.7 million customers to $7.5 billion in loans.
About Avant
Avant provides a full ecosystem of digital financial products, including personal loans and credit cards, to non-prime consumers. Through a combination of technology, analytics, and superior customer service, Avant gives underserved and unbanked consumers access to credit with innovative products that simplify and improve their financial journeys. Since 2012, Avant has connected 1.7 million customers to $7.5 billion in loans and to 800,000 credit cards. A high-growth financial technology company, Avant has been featured in The Wall Street Journal, The New York Times, TechCrunch, Fortune, and Bloomberg, and has raised over $650 million of equity capital. Visit www.avant.com for more information.
Avant-branded credit products are issued by WebBank, Member FDIC. Avant, LLC is a financial technology company, not a bank. Banking services are provided through Evolve Bank & Trust, Member FDIC.
CONTACT: Gina Cannon, [email protected]
SOURCE Avant
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