Lantern Credit, a financial technology company working to solve systematic inefficiencies in the consumer credit industry, appoints esteemed banking industry veteran John Mack as Chairman of its Board of Advisors, joining current board members John Sculley, former chairman of Apple Computer, James Held former president and CEO of the Home Shopping Network, Seth Johnson and Kevin Knight.
Mack brings vast leadership experience including Chairman and CEO of Morgan Stanley, Co-CEO of Credit Suisse Group and CEO of Credit Suisse First Boston. Mack is actively serving on several boards including Lending club, Glencore International AG and Bloomberg Family Foundation. Mack has accumulated 25 years of experience as chairman, serving on the boards of Morgan Stanley, Pequot Capital Management Inc. and New York-Presbyterian Hospital.
“John Mack’s decades of experience in the banking industry brings our board the leadership and insight that will help Lantern Credit revolutionize how financial institutions approach credit,” said Chad Swensen, CEO of Lantern Credit. “His highly relevant experience with numerous successful organizations is invaluable to the continued development and support of Lantern Credit’s vision of building innovative tools that provide real-time credit information.”
Lantern Credit’s white label platform for financial institutions draws personal financial data including credit data, account information and personal goals to provide customers with real-time information to make informed choices designed to improve their financial wellness. Financial Institutions providing the Lantern Interactive Credit Report™ to their customers benefit from more engaged consumers and are better equipped to provide relevant offers to their customers. Instead of the traditional static credit report, Lantern’s Interactive Credit Report delivers access to a free credit report and score, model the effects of financial actions, receive and accept offers directly from lenders, and make payments on existing accounts.
“Lantern credit is one of the most innovative companies helping banks and consumers manage credit,” said John Mack, Chairman of Lantern Credit. “Their groundbreaking work incorporating artificial intelligence into consumer credit tools is addressing the most important challenges within the credit market. I am looking forward to working with the CEO and the entire Lantern team to continue changing the world of consumer credit.”