Pagaya partners with Ally to expand access to more customers

By Edlyn Cardoza

Pagaya, a financial technology company that enables financial institutions to expand access to more customers through its artificial intelligence (AI) network, today announced its new partnership with Ally Financial’s credit card business (formerly Fair Square Financial).

Pagaya’s proprietary AI technology enables FinTechs, banks, and other loan originators to provide broader credit access for their customers. Through this partnership, Ally’s credit card business will leverage Pagaya’s analytics for application analysis, allowing Ally to target more “pre-qualified” customers outside its current credit criteria.

“Partnerships are a vital part of Pagaya’s business, and alongside Ally, we will be able to collectively achieve our goal of expanding credit access, including those with legacy financial barriers,” said Gal Krubiner, Co-Founder and CEO of Pagaya. “This partnership highlights Pagaya’s continued growth, and in particular, our further expansion into the cards space, showcasing that Pagaya is, and will continue to be, at the forefront of innovation among the burgeoning financial technology sector.”

“Our partnership with Pagaya allows us to expand our offerings to consumers who have been traditionally underserved,” said Rob Habgood, head of Ally Financial’s credit card business and former CEO of Fair Square Financial. “We look forward to working with Pagaya to offer end-to-end solutions that benefit consumers across the spectrum.”

Pagaya’s ongoing growth includes investment in credit and asset analysis models, which span personal loans, auto loans, credit cards, point-of-sale financing and more. The company is laser-focused on innovation and enabling partners to expand access to consumer credit, demonstrated through its unwavering commitment to its partners.

IBS Intelligence had reported that Pagaya Technologies Ltd. had announced the appointment of Leslie Gillin, former President of Chase Co-Brand Cards, CMO of Citi’s Global Consumer Bank and, most recently, CMO of JPMorgan Chase & Co., as its Chief Growth Officer. This hire reinforces Pagaya’s commitment to double down on serving all of its partners at scale.