One of the early players in the fintech lending space is Best Egg, formerly known as Marlette Funding. At one stage they were the fastest-growing lender in the country. While their growth has slowed down they continue to be one of the largest online lenders by originations.
My next guest of the Fintech One-on-One podcast is Paul Ricci, the new CEO of Best Egg. He recently took over from the founding CEO, Jeffrey Meiler (see my interview with Jeffrey from 2019). This is Paul’s very first interview since becoming CEO in June and we cover a lot of territory. He is no newcomer to the industry having been Best Egg’s CFO since the very beginning.
In this podcast you will learn:
- His role at Best Egg before he became CEO.
- How the transition to CEO has gone.
- A profile of their target customer.
- The competitive dynamics of the personal loan market today.
- How they have adjusted their underwriting given the changing environment.
- Why they launched a credit card and how it is going.
- How their innovative home equity loan product works.
- Why they decided to acquire Till and the new product that became part of Best Egg.
- Why they are not looking to get their own banking license.
- How they know their products are having an impact on their customers’ financial health.
- The scale that Best Egg is at today.
- How fintech lending is doing as an industry.
Connect with Paul on LinkedIn
Connect with Best Egg on LinkedIn
Connect with Fintech One-on-One:
- Tweet me @PeterRenton
- Connect with me on LinkedIn
- Find previous Fintech One-on-One episodes
Read the transcript of our conversation below.
Fintech One-on-One Episode 444: Paul Ricci of Best Egg