Elevate Credit Inc. of Fort Worth announced Nov. 12 that it has appointed David Peterson as chief credit officer, effective immediately.
Elevate is a tech-enabled provider of innovative and responsible online credit solutions for non-prime consumers.
Peterson’s background includes 15 years’ experience in financial services, primarily in credit risk. He joined the company in 2010 and has held a number of roles of increasing responsibility in areas including credit strategy, risk, portfolio management and fraud, the company said.
Previously he was with AmeriCredit Financial Services. He holds a BBA in Finance and an MBA from the M.J. Neeley School of Business at Texas Christian University.
“I’m excited about the strong execution skills David brings to his new role,” Elevate CEO Ken Rees said in the news release. “We have built an excellent team of data scientists and risk analytics professionals, and David has a knack for bringing people together to drive clarity, move quickly and execute on a clear mission.”
Peterson now leads Elevate’s proprietary risk team, which includes some of the most advanced thinkers in risk analytics and machine learning for hard-to-underwrite consumers. The team is comprised of more than 30 data scientists, most of whom have advanced degrees, and five of whom have Ph.D.s. Elevate invests more than $40 million annually in advanced analytics, data science and technology.
Peterson is a graduate of Elevate’s Executive Excellence (E3) Program, which puts high- performing executives through an intense year-long program designed to unleash potential, build leadership capabilities and ready them for future leadership roles at the company.
He replaces Brian Biglin, who left for personal reasons.
Elevate (NYSE: ELVT) has originated $6.3 billion in non-prime credit to more than 2.1 million non-prime consumers to date and has saved its customers more than $4.4 billion versus the cost of payday loans, the company said.
– FWBP Staff