Surprisingly, about 3 in 10 Americans experience hardships due to income volatility, approximately 25% of U.S. adults cannot afford to pay a $400 emergency expense and still over 60 million Americans lack access to traditional credit.
With a belief that every individual deserves access to credit and ultimately better financial health, online lender Propel Holdings is trying to solve this problem. In this episode, Kenrick Sylvestre is joined by Clive Kinross, CEO and Co-founder of Propel, to discuss the lack of access to traditional credit, whether “sub-prime” is really a dirty word, and to discuss how their industry-leading AI technology makes credit decisions in under 10 seconds.
Guest Speaker - Clive Kinross
Clive is Co-Founder and Chief Executive Officer of Propel Holdings. Propel has developed and thrived under Clive’s leadership since its inception in 2011. His financial acumen, bold visionary approach and passion for excellence has steered Propel to becoming a leader in its industry. Clive brings with him a long and successful history of building successful, innovative tech businesses powered by collaborative and dynamic teams. Prior to starting Propel, Clive was Co-Founder and President of OPENLANE, a B2B online exchange for used vehicles, which under his guidance and leadership disrupted the traditional brick and mortar automotive auto auction model, and transformed the industry. OPENLANE was sold to ADESA, a major subsidiary of KAR Auction Services (NYSE:KAR), in 2011. Prior to that, Clive worked for NSA Investments, the largest publicly traded private equity company in South Africa. Clive sits on several corporate Boards and is also a Board Member for the Online Lender’s Alliance (OLA), the main industry body representing the fast-growing online lending industry. Clive is a Chartered Accountant and completed his Articles at Arthur Andersen. He also holds a BComm, BAcc from the University of Witwatersrand in South Africa. Clive is an avid world traveller with his wife and two children and never misses a tennis match.