Mr. Strait brings an extensive record of IT leadership and strategic technology transformation within the financial service industry to Prosper. As CTO, Strait will be responsible for overseeing all aspects of technology and will report directly to CEO Dawn Lepore.

"Scott has deep experience leading technology organizations, most notably at Charles Schwab where he played a key role during some of the company's most transformative years," said Lepore. "His capabilities make him uniquely qualified to help Prosper excel during our next phase of growth and we're excited to have him join the team."

"This is an incredible time in the financial services industry, and Prosper.com is quickly gaining traction as an attractive alternative to traditional banking. I'm looking forward to bringing innovative products and services to both lenders and borrowers on the Prosper platform," said Strait.

Most recently, Strait worked with two innovative financial industry start-up companies. He was CTO at Aria Retirement Solutions, a break-through guaranteed income product, and CIO at Renewable Funding, the leader in the administration and financing of PACE programs. Previously, Strait spent 12 years with Charles Schwab where he held a variety of positions, including CTO; divisional CIO for the Schwab Investor Services business serving retail investors; Senior VP of technology for back-end brokerage, cashiering, and operations; and divisional CIO for the Schwab Institutional business serving independent financial advisors. As CTO and head of retail technology, Strait drove the development of the technology that led Schwab's strategy shift from transaction-based to relationship-based client experience and to the complete rewrite of Schwab.com.