Oportun expands Lending as a service business with addition of Barri Financial Group as new strategic partner
By Edlyn Cardoza
Oportun, an A.I.-driven FinTech that provides hardworking people with responsible, affordable, and credit-building alternatives to payday and auto title loans, recently announced the expansion of its Lending as a Service (LaaS) business with the addition of its new strategic partner, Barri Financial Group (Barri).
Already available in a handful of Barri locations, Barri customers can now apply for loans that are originated, funded, and serviced by Oportun. The partnership enables Oportun loans to gradually be made available in over 200 Barri store locations across Texas, and over time, to extend to Barri’s locations in other states.
Oportun is a financial services company that leverages its digital platform to provide responsible consumer credit to hardworking people. Using A.I.-driven models that are built on 15 years of proprietary customer insights and billions of unique data points, Oportun has extended more than 4.3 million loans and over $10.5 billion in affordable credit, providing its customers with alternatives to payday and auto title loans. In recognition of its responsibly designed products which help consumers build their credit history, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009.
Barri is a Texas based licensed money remittance company with over 35 years of experience and presence in over 40 states. Barri services are available to customers in over 250 company-operated stores, 2,000 agent locations and online on its website or by downloading the Barri Money Transfer app in Android’s Google Play or iOS App Store.
IBSi Daily News Analysis
May 18, 2022
Barri Financial Group
Transforming banking with cloud – the journey so farRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
Rural India’s FinTech Potential: Interview with Sasidhar Thumuluri, MD & CEO at Sub-KRead More
May 17, 2022