Aneesh Varma: Changing Credit Perception in the US

An episode of the Moving to the United States podcast, hosted by Soho Podcasts, titled "Aneesh Varma: Changing Credit Perception in the US" was published on December 9, 2019 and runs 44 minutes.

December 9, 2019 ·44m · Moving to the United States

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Summary

In this episode we are joined by Aneesh Varma, founder and CEO of the forward thinking credit assessment service Aire. He shares Aire’s mission of moving data collection away from the limiting aspect of only looking at the past, to also taking into account a person's present and probable future. By doing this, lenders can make smarter decisions, and borrowers get fairer access to credit. He tells us why he set up Aire, how it works, and what the experience has been like expanding to America. Different countries have different cultures and attitudes towards credit, and Aneesh talks about how he came to terms with these differences in the US. “Trying to chase the international market can kill your domestic business.” - Aneesh Varma Time Stamps: 02:06 - Who Aire are. 02:48 - Why Aneesh started Aire. 03:58 - How Aire helps banks make better decisions. 04:50 - The problem with the data that banks normally use. 06:16 - Who Aire’s consumers are. 07:01 - What happens when a bank refers a consumer to Aneesh. 08:45 - The generic profile of Aneesh’s ‘future prime’ consumers. 11:30 - What it’s like starting a financial business in the UK. 15:13 - The different approaches in consumer finance and credit across nations. 16:53 - The reasons for expansion and what that process was like. 19:01 - Having headquarters in New York, and the importance of taking things slow. 21:16 - How regulations change across the US. 24:23 - How lenders in the US react to Aire, and the access to credit in America. 31:18 - The kind of consumer that approaches Aneesh for a credit score. 35:30 - The importance of doing the right kind of market research. 37:53 - The difficulties in operating in an area as large as the US. 40:49 - Advice for businesses that are moving to the United States.  Resources: https://aire.io/ www.mtbonnell.com Episode Transcript Connect with Aneesh Varma: LinkedIn Connect with Sebastian Sauerborn: Website Connect with Nastaran Tavakoli-Far: LinkedIn Email us at – [email protected] Twitter – @mtbonnell

Episode Description

In this episode we are joined by Aneesh Varma, founder and CEO of the forward thinking credit assessment service Aire.

He shares Aire’s mission of moving data collection away from the limiting aspect of only looking at the past, to also taking into account a person's present and probable future. By doing this, lenders can make smarter decisions, and borrowers get fairer access to credit.

He tells us why he set up Aire, how it works, and what the experience has been like expanding to America.

Different countries have different cultures and attitudes towards credit, and Aneesh talks about how he came to terms with these differences in the US.

“Trying to chase the international market can kill your domestic business.” - Aneesh Varma

Time Stamps:

02:06 - Who Aire are.
02:48 - Why Aneesh started Aire.
03:58 - How Aire helps banks make better decisions.
04:50 - The problem with the data that banks normally use.
06:16 - Who Aire’s consumers are.
07:01 - What happens when a bank refers a consumer to Aneesh.
08:45 - The generic profile of Aneesh’s ‘future prime’ consumers.
11:30 - What it’s like starting a financial business in the UK.
15:13 - The different approaches in consumer finance and credit across nations.
16:53 - The reasons for expansion and what that process was like.
19:01 - Having headquarters in New York, and the importance of taking things slow.
21:16 - How regulations change across the US.
24:23 - How lenders in the US react to Aire, and the access to credit in America.
31:18 - The kind of consumer that approaches Aneesh for a credit score.
35:30 - The importance of doing the right kind of market research.
37:53 - The difficulties in operating in an area as large as the US.
40:49 - Advice for businesses that are moving to the United States.