GreenSky Credit, a financial company based in Atlanta, provides technology-driven lending solutions to banks, firms and consumers for home improvement, infrastructure, health-care and other purposes. Over 1.7 million consumers and over 12,000 companies are benefiting from GreenSky Credit.
GreenSky Credit is considered a highly innovative firm in the so-called “Fintech” space. Finteck, a shorthand for “Financial Tecnology” refers to those companies such as GreenSky Credit that utilize techological innovation in their lending businesses.
A recent Motley Fool article describes how GreenSky manages and grows its business by acting as a “Middleman that connects consumer borrowers with banks” by offering “Point-of-sale solutions” to individual lending situations. According to Seeking Alpha, in many cases a customer can apply for a loan and be approved in less than 60 seconds. The company has seen a steady growth in revenue, with transaction fees rising to an aggregate of $279 million in 2017, according to the Motley Fool source. Much of this innovation is directly related to the skill and leadership of its CEO and management.
CEO and Management Team
GreenSky Credit is run under the leadership of CEO Mr. David Zalik. He is assisted by Mr. Gerry Benjamin, Vice Chairman and Mr. Tim Kaliban, President and Chief Risk Officer.
CEO David Zalik has been highlighted in a number of articles, including ones appearing in Forbes and Bloomberg. David Zalik, originally from Israel, moved to Alabama at age 4 and has become an American business success story. Zalik was 12 years of age when, after he achieved an exceptionally high score on a special test, Auburn University invited him to take classes. He rode his bike to the Auburn campus after regular school for 2 years, until he enrolled at Auburn as a full-time student.
The main edge that Mt. Zaric has honed with GreenSky is that of business model that transfers much of the risks and the work to others. Another aspect that makes his company so successful is that they typically don’t work with distressed borrowers. He prefers a business model that appeals to customers who take out loans for convenience rather than necessity. In the words of Forbes, he has made the company into a “Classic digital-era middleman, in the great tradition of eBay and Airbnb, to the tune of $9 billion in unsecured loans” since 2012.