Founders And Funders

When banks wouldn't bite on Kalpesh Kapadia's new credit-scoring system, he started his own company to prove that a person's potential is a better indicator of risk than having an outdated (or inaccessible) credit score. Subscribe to Founders and Funders on iTunes, TuneIn, Stitcher, Google Play, iHeartRADIO, and Android Podcast Players. Episode Summary After 9/11, the Department of Homeland Security (DHS) issued a policy change stating that social security numbers would no longer be issued to incoming foreign students. This, according to Deserve founder Kalpesh Kapadia, had the adverse effect of eliminating the ability of thousands of students to establish credit. “If you do not have a Social Security number," Kapadia says, "you do not exist in the system until you get a job. You're sort of credit invisible.” Kapadia had trouble himself establishing credit in the U.S., and he knew that more students were entering the country than ever before to continue their education. So he began using data science to cr