Noble emerges from stealth to help companies extend lines of credit to their customers
https://techcrunch.com/2022/09/21/noble-emerges-from-stealth-to-help-companies-extend-lines-of-credit-to-their-customers/
Credit lines are a lucrative product. U.S. consumers alone pay $120 billion in credit card interest and fees every year, according to the Consumer Financial Protection Bureau. Given the revenue opportunity, it’s no surprise that there’s enduring interest from both startups and established companies in delivering credit-based products. But challenges stand in the way, including — but not limited to — complying with local laws and regulations and modeling credit risk.
Enter Noble, a putative solution in the form of a platform that allows businesses to build credit-based products like credit cards and buy now, pay later services with no-code tools. Founded by WeWork veterans, Noble allows clients to connect data sources to create custom credit offerings, providing a rules-based engine to edit and launch credit models.