Whiting has more than two decades of experience at Barclays and Lehman Brothers, most recently as head of strategy for Barclays Americas, Bloomberg reported Monday (November 14).
With the current CFO Steve Carp set to take on a senior strategic planning role at Mercury Financial, Whiting is due to join the company in December, according to the report.
“The integration of Jason will prepare us for the next stage of our business development,” said the CEO of Mercury Financial. James Peterson said, according to the report.
Mercury Financial did not immediately respond to PYMNTS’ request for comment.
The company aims to grow financial inclusion helping Americans build better credit, according to an August 30 press release.
Founded in 2013, Mercury Financial currently serves 1 million cardholders and manages $4.7 billion in access to credit, the statement said.
The company announced in August that it was launching a multi-year partnership with Visa that offers Mercury Financial customers cash back on purchases, zero fraud liability, fraud protection and global acceptance, according to the release.
“We are committed to helping our customers get better credit to enable a better life,” Peterson said in the statement at the time. “It starts with offering a credit solution that meets the consumer’s financial needs and improves their financial experience.”
PYMNTS research found that credit scores are strongly correlated with income, but about one-third of those earning more than $250,000 a year report average or below-average credit scores.
In fact, 18% of consumers earning more than $250,000 report having an average credit score, while 13% report having a below-average credit score, according to “New Reality Check: The Paycheck-to-Paycheck Report», a PYMNTS and loan club collaboration.
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