Mercury Financial hires Barclays Exec as CFO
FinTech company Mercury Financial is reportedly adding Barclays veteran Jason Whiting as chief financial officer (CFO).
Whiting has more than two decades of experience from both Barclays and Lehman Brothers, and most recently served as Barclays’ head of strategy for the Americas, Bloomberg reported Monday (Nov. 14).
With the current CFO Steve Carp set to take on a senior strategic planning role at Mercury Financial, Whiting will join the company in December, according to the report.
“Bringing Jason on board will set us up for the next stage of our business development,” Mercury Financial CEO James Peterson said according to the report.
Mercury Financial did not immediately respond to PYMNTS’ request for comment.
The company aims to expand financial inclusion by helping Americans build better credit, according to an Aug. 30 press release.
Founded in 2013, Mercury Financial currently serves 1 million card members and manages $4.7 billion in credit access, the release said.
The firm announced in August that it launched a multi-year partnership with Visa that offers Mercury Financial customers cash back rewards on purchases, zero fraud liability, fraud protection and worldwide acceptance, according to the release.
“We are committed to helping our customers achieve better credit to enable a better life,” Peterson said at the time in the release. “This starts with providing a credit solution that meets the consumer’s financial needs and improves their financial experience.”
PYMNTS research has found that credit score is highly correlated with income, but about a third of those earning more than $250,000 a year report average or below average credit scores.
In fact, 18% of consumers earning more than $250,000 report having an average credit score, while 13% report having a below-average credit score, according to “New reality check: The paycheck-to-paycheck report,” a PYMNTS and LendingClub cooperation.
How consumers pay online with stored credentials
Convenience prompts some consumers to store their payment information with merchants, while security concerns give other customers pause. For “How We Pay Digitally: Stored Credentials Edition,” a collaboration with Amazon Web Services, PYMNTS surveyed 2,102 U.S. consumers to analyze the consumer dilemma and reveal how merchants can win over holdouts.
