RIBBIT Appoints FinTech and Consumer Finance Veteran Greg Rable as CEO

Rhea-AI Summary

RIBBIT Inc. has appointed Greg Rable as CEO, effective immediately. Rable, a veteran in fintech and predictive data with over 25 years of experience, formerly led FactorTrust. His expertise will guide RIBBIT's strategic direction and operations, enhancing its mission to provide critical bank behavior data for the non-prime credit sector, which constitutes 47% of Americans. Rable will also remain on the Board of Directors. Former CEO Shawn Princell transitions to a growth role focused on partnerships while also continuing on the Board. This leadership change aims to position RIBBIT as a leader in predictive data for lenders.

Positive

• Appointment of Greg Rable as CEO brings extensive fintech and predictive data experience.
• Rable's focus on non-prime credit data can enhance strategic growth and market relevance.
• Retaining Shawn Princell in a growth role ensures continuity in leadership.

Negative

• Transitioning leadership may cause temporary disruptions in strategic execution.

Current Board Member and Founder/Former CEO of FactorTrust Brings Non-Prime Data Expertise to Leadership Team

ATLANTA--(BUSINESS WIRE)-- Today, RIBBIT Inc. announces the appointment of Greg Rable to the executive management team as CEO. As the founder and former CEO of FactorTrust, the company that elevated the use of alternative credit data, since acquired by TransUnion in 2017, Rable brings more than 25 years of experience in building, growing, managing, and successfully exiting businesses in the fintech, predictive data, and consumer finance space.

As CEO, Rable will own the company’s strategic direction and day-to-day operations and maintain his position on the Board of Directors, which he joined following a Series A investment from ABS Capital in 2021. Former CEO Shawn Princell is transitioning to a growth role focused on driving value from partnerships and business development opportunities. Princell also will continue to serve on the Board.

“Stepping into this role is a natural progression for myself and the company,” notes Rable. “I joined RIBBIT because I continue to view bank behavior data as critical in financial decisioning. The need for predictive data regarding the entire population, not just prime consumers, continues to be an area lacking for the industry, and I look forward to growing RIBBIT into the predictive data powerhouse lenders seek.”

Rable comes from a deep financial and fintech background, with demonstrated success in the predictive data, credit risk and payments markets. Prior to founding FactorTrust, he served as EVP of Global Services at PGI (NYSE: PGI) and was the co-founder and CEO of an e-billing and payment business, Derivion, that was acquired by Metavante/FIS (NYSE: FIS) in 2001. He is also the Chairman of a leading UK alternative lender.

Now more than ever, lenders face increased scrutiny with lending decisions and need quick access to meaningful data to make better credit decisions for the 47% of Americans with non-prime credit. RIBBIT’s main products, BankQualify, BankVerify and BankLogin, provide clients with a more complete view of banking behavior from the more than 45M non-prime credit-seeking population across the US.

To learn more about RIBBIT, visit www.RIBBIT.ai.

About RIBBIT

RIBBIT is the Bank Behavior Bureau. Leveraging the predictive power of bank data across the credit and payment lifecycle, RIBBIT provides deep non-prime banking data that powers smarter credit decisions for banks, lenders, and fintechs. Our AI-driven insights enable instant, actionable predictive data that increase customer acquisition, retention, and profitability. Learn more about RIBBIT at www.RIBBIT.ai.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230329005106/en/

Hilari Barton

hnbarton@trevelinokeller.com

Source: RIBBIT Inc.

FAQ

What are the key details about Greg Rable's appointment as CEO of RIBBIT?

Greg Rable has been appointed CEO of RIBBIT Inc., bringing over 25 years of experience in fintech and predictive data, including his role as founder of FactorTrust.

What will Shawn Princell's role be after transitioning from CEO?

Shawn Princell will focus on driving value from partnerships and business development while continuing to serve on the Board.

Why is RIBBIT focusing on non-prime credit data?

RIBBIT aims to provide critical data insights for the 47% of Americans with non-prime credit, enhancing lenders' decision-making capabilities.

How does Greg Rable's experience benefit RIBBIT?

Rable's extensive background in predictive data and consumer finance positions him well to lead RIBBIT in delivering innovative data solutions.

What changes can we expect in RIBBIT's strategy under Greg Rable?

Under Rable's leadership, RIBBIT is expected to strengthen its focus on providing actionable insights for lenders dealing with non-prime consumers.