RIBBIT combines payment processing and bank data analytics to empower financial decisioning with better data and superior outcomes
OXFORD, Ohio, Jan. 12, 2021 /PRNewswire/ — Just two months after announcing a new partnership, RIBBIT welcomes to the board of directors heavy-hitters Steven M. Thompson, co-founder of Transaction Science and Eric A. VonDohlen, co-founder of Transaction Science and standing CCO of Zebit.
Thompson and VonDohlen are poised to bring exceptional value through experience and innovations in data science, predictive behavior analytics, risk modeling and credit evaluation by advising the board on new data initiatives and research opportunities.
“I am honored and excited to join the RIBBIT board and help lead the intelligent data revolution with a group of like-minded peers,” said Eric VonDohlen upon his appointment. VonDohlen has over 20 years of experience in data science analytics, beginning his career at American Express and leading teams at Citigroup and Encore Capital Group. Eric has served as Chief Analytics Officer at Triton Management and Elevate Credit and is currently Chief Credit Officer at Zebit.
VonDohlen has catapulted growth in several data-driven finance companies and turned ideas into revenue. He helped pioneer the use of bank transaction data in underwriting and engineer new data sources for use across the lending spectrum. Eric has worked with data integration and credit scoring using data from multiple hierarchical sources. Eric earned a Ph.D. in economics from the University of Arizona.
Mr. Thompson reported, “The speed at which RIBBIT is revolutionizing the marketplace is impressive and invigorating… I am thrilled with the opportunity to serve on the board alongside Mr. VonDohlen.” Steven brings more than 15 years of analytics experience in the financial, retail, energy, and transportation industries and has effectively led data initiatives at TransUnion, Elevate Credit, Tax Guard, and recently, successfully co-founded Transaction Science.
Mr. Thompson has expertise in machine learning, data engineering and enhancement, product development, and sales analytics consulting to support data-driven products. Notable projects include fusing identifiable metadata with financial behavior to support underwriting in the consumer and small business sectors. Mr. Thompson has degrees in Economics and Russian from Texas A&M University and a Master’s in Information Science from Penn State.
“Appointing Steven and Eric is the result of both happenstance and carefully planned strategy,” said Shawn Princell, CEO. “Together, we have the power to change the financial landscape.” RIBBIT’s board and advisors are set to meet next month to finalize upcoming strategy, financial milestones and new revenue streams planned for 2021.
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The universe is always sending us gifts, all we have to do is open them. ~ Di Princell
Artificial Intelligence (AI) may well be the supportive superhero for credit decisioning in the current decade: slaying machine-learning systems, disrupting financial services, fighting against biased algorithms, demanding more accurate predictions, and destroying the way credit risk is measured. Combining AI with financial data creates knowledge out of confusion and sees into the future: changing status quo, paving the way for innovation in the financial arena, and tearing down closed doors to credit.
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Relying on money in our pockets to buy food, pay rent, purchase gas, and support daily living would be a dangerous game, but that’s how the unbanked lives. . . . not a good scenario for financial success.