SOURCE: RetailCapital

RetailCapital

March 03, 2015 09:00 ET

RetailCapital Names Tina Chan Reich as Chief Data Scientist & Risk Officer

Reich's Unique Approach to Data Science to Help Expand Company's Product Offerings and Target Market While Bolstering Small-Business Funding Intelligence

NEW YORK, NY--(Marketwired - Mar 3, 2015) - RetailCapital, an emerging marketplace platform that leverages data science and analytics to improve the speed, cost and choice of capital available to all small and medium-sized businesses, has named Tina Chan Reich as the company's Chief Data Scientist and Risk Officer. Reich's responsibilities include developing and driving RetailCapital's core data strategy, incorporating big data analytics and new data models into the company's product line and using information to improve the scale, scope and performance of the funding that RetailCapital provides. Reich will report to RetailCapital CEO Glenn Goldman and will be based in the company's New York office.

For more than 16 years, Reich held senior data science and risk management positions at companies such as American Express, Citi, JPMorgan and DemystData. With a proven track record that combines traditional lending practices, innovative concepts and new data science techniques, Reich's deep technical knowledge of optimizing customer acquisition and analyzing risk will enable RetailCapital to develop funding solutions that meet the needs of every type of small business borrower, regardless of credit profile or stage in their business lifecycle.

"The execution of RetailCapital's data science strategy targets every element of the company's workflow and decision-making, from new product development to customer acquisition to lifetime relationship management," said Goldman. "Tina's addition to the RetailCapital team directly supports this vision, placing data science at the core of the company's business strategy. Her vast experience within the financial industry will enable our data team to accelerate the development of innovative alternative funding products that will provide small businesses with the capital required to achieve their goals, while simultaneously optimizing the cost of customer acquisition and customer lifetime value."

Reich is building a team of data scientists from diverse backgrounds that will enable RetailCapital to apply best practices in terms of modeling and data sourcing. The RetailCapital data team currently consists of professionals from a variety of industries -- from lending to non-lending -- providing the company with the necessary skills, experience and independent thinking that will lead to the development of net-new approaches to data modeling across the entire enterprise workflow -- from customer acquisition, to underwriting, to account monitoring and line sizing.

"I was drawn to RetailCapital based on the organization's culture, its operational infrastructure and its potential to grow as a marketplace platform," said Reich. "By powering the tried-and-true 'Cs' of underwriting (character, conditions, cash flow, capacity, capital, collateral, etc.) with new data sources and sophisticated data science techniques, we are improving the speed and accuracy of traditional risk management practices. Contrary to the hype, data science and big data at RetailCapital is not about doing big data for big data's sake. Rather, it's an unwavering belief that true data science can drive every business decision we make, helping our small business customers while delivering a highly potent and measurable ROI to RetailCapital."

Prior to joining RetailCapital, Reich was the Chief Data Scientist at DemystData, a fintech company specializing in big data. Before joining DemystData, she was group head and director at Citi, where she managed risk management strategy and analytics across the product suite for the small business banking group. Reich also headed up senior data science and risk analytics teams at JPMorgan Chase and American Express where she ran consumer new accounts underwriting and lead new product and new channel risk management. She has served on the board of Citicorp Payment Services and the Small Business Financial Exchange. Tina earned a degree in economics from the Massachusetts Institute of Technology. 

About RetailCapital:
RetailCapital is an emerging marketplace platform that leverages data science and analytics to improve the speed, cost and choice of capital available to all small businesses -- when, where and how they choose to access it. The company is dedicated to creating a better user experience that includes satisfying the needs of all SMBs throughout their lifecycle regardless of product need or credit profile. Its innovative technology platform, which considers a business's total health, has provided short-term financing to thousands of small businesses around the United States. For more information, please visit http://retailcapital.com, and follow RetailCapital on Twitter @retailcap.

Contact Information

  • RetailCapital Media Contact:
    Keith Giannini or Lisa van der Pool
    InkHouse PR for RetailCapital
    retailcapital@inkhouse.com
    781-966-4100