KristyAtTomo

ok guys. i hear you. didn't know that you guys are sensitive to uber. how about Filing a tax on paper VS Turbotax analogy. do you like it better?

End goal is more ambitious :) we want to unlock auto loans and mortgages as well. so we make the credit score obsolete in the next 10 years. think of yellow cab. who is using it? ppl use uber now. once lenders realize that they can underwrite without FICO, we will not go back to the old FICO system.

hi! first question. woohoo. we make money from merchants. Not from customers. ex) you buy starbucks coffee with TomoCredit card-- starbucks pays tomocredit a tiny cut of the coffee purchase like 2%. You pay nothing. In the industry, it is called "Credit Card Interchange Revenue". Most ppl dont know, but whenever you swipe your debit card or credit card, merchants are always paying interchange fees to the card companies in the background

hs trying to use alternative ways of analyzing risk. They use stuff like income/which college you went to/your college degree/etc. Upstart is a good example of a company dedicated solely to risk.

Tomo ain't here to approve literally anyone. You don't need a credit history, but you still need to match their acceptable risk profile.

Hey you nailed it!!!!!!!!!!! We have built our own AI risk model. we use that instead of FICO. our model is proven to be more inclusive as we can approve people with no credit history in the U.S.

Yes. it was intentionally designed that way to help people boost their credit score fast by paying off their credit card balance more frequently!