Aliya CEO Steve Basilotto Presents Blueprint to Expand Credit to Working Americans at FDIC’s Austin Alliance for Economic Inclusion

AUSTIN, TX – March 3, 2017 –  Aliya CEO Steve Basilotto was invited to present as a keynote speaker at the quarterly meeting of the FDIC-organized Austin Alliance for Economic Inclusion on March 2, 2017. Furthering Aliya’s commitment to local economic development, Basilotto provided a blueprint for greater financial inclusion and access to credit for working class Americans.

The FDIC established the Austin Alliance for Economic Inclusion (Austin AEI) in 2007 as a broad-based coalition of financial institutions and community-based organizations to bring the unbanked and underserved populations into the financial mainstream. In addition to providing targeted financial education and asset-building programs, the FDIC’s Austin AEI encourages the development of competitively priced financial products and services, such as checking and savings accounts, remittance products, and small dollar loans.

“Like the FDIC and Austin AEI, we believe every consumer deserves access to the banking system,” Basilotto said. “Our presentation demonstrates a new path for financial institutions to open up credit access to many overlooked and underestimated hardworking Americans. And the Aliya approach enables these financial institutions to create value for their shareholders at the same time.”

About FDIC’s Austin Alliance for Economic Inclusion

The Austin Alliance for Economic Inclusion was formed in March 2007 as part of FDIC's national initiative to improve the financial capability of consumers—especially those of low- to moderate-income—and move them into the financial mainstream. The Austin AEI coalition represents over 100 financial institutions, community based organizations, small business support organizations, faith-based organizations, state and local government agencies, community stakeholders, and federal bank regulators in the Austin region. Their key initiatives include Bank on Central Texas and Financial Fitness Greater Austin.

About Aliya

Aliya offers a proprietary technology, analytics, and capital solution that enables financial institutions to unlock hidden opportunities to extend more credit to their existing customer base. Through the use of machine learning, highly individualized underwriting approaches, and alternative data, Aliya can identify the 40% of their “Non-Prime” customers who can perform as Near-Prime/Prime—thus creating more profitable lending relationships, while also providing crucial, affordable credit products to an underserved population.