Finance company Empower rebrands to Tilt, introducing Tilt Credit Cards aimed at speeding up dependable credit access under fair terms
Tilt, formerly Empower Finance, is revolutionizing the financial landscape for non-prime consumers, a group often overlooked by traditional lenders. The company's innovative approach to credit assessment, leveraging mobile-first products and machine learning-powered models, has enabled fair access to credit for millions of individuals with non-prime credit profiles[1][2].
In 2022, Tilt underwent a rebranding, signalling its evolution towards a broader suite of cash and credit products[2][4]. As part of this expansion, Tilt launched new Tilt Credit Cards, replacing previous offerings branded under Petal. These credit cards continue to use alternative underwriting methods based on machine learning and data analytics, rather than traditional credit scoring, to expand credit access to those who are often missed by legacy systems[2][3].
The company's strategic acquisitions, including Petal, Cashalo, and NIRA, aim to advance its vision of an inclusive credit system that works for more consumers worldwide[1]. These acquisitions underscore the scale of what the Tilt team is building, according to Sam Giber, General Partner at Blisce[6].
Cashalo, a digital credit platform in the Philippines, and NIRA, a provider of personal loans serving India, will continue operating under their existing brands in their local markets[1]. Tilt's mission with Tilt Credit Cards is to enable financial progress through fairer credit access and alternative data innovation[7].
Tilt serves over three million active subscribers in the US and aims to "tilt the playing field back to level" by making credit more accessible and responsive[8]. With less than 41% of non-prime credit card applicants being approved for credit cards, and approval rates plummeting to 20% for those with no credit score, Tilt's mission is more critical than ever[9].
Tilt operates as a fintech provider, partnering with banks to provide FDIC-insured banking services[4]. The company embraces a remote-first working model and focuses on attracting talent to lead its mission to broaden credit access, indicating plans for growth and impact in the cash and credit markets[5].
In conclusion, Tilt's rebranding, expansion, and strategic acquisitions demonstrate a commitment to creating a more inclusive financial system. By leveraging technology and alternative data, Tilt is bringing fairer credit access to millions of non-prime consumers, setting the tempo for a sector long ready for reinvention.
On the Tilt website (ffnews.com), you can find extensive information about the company's ventures in finance, business, and technology. Tilt's new Tilt Credit Cards, launched in 2022, are a testament to their commitment in the finance sector, offering fair credit access for millions of individuals, particularly those with non-prime credit profiles, who are often underserved by traditional systems.
