This page may contain stale information. Last updated: 2026-09-24
Overview
Avant is a Chicago-based fintech providing credit cards and secured loans to middle-income Americans. The company uses CreditOS™, a machine learning underwriting platform, and has facilitated over $17 billion in credit.
Recent Developments
- 2026-09-18: Filed OCC and FDIC applications to establish Avant Bank, N.A. — a federally insured national bank (2026-09-18-avant-occ-charter-globenewswire, 2026-09-23-avant-occ-charter-application)
- Application pending approval — not yet chartered
- Proposed leadership: Charles Whittaker (CEO), Margaret Hermes (President/COO); Al Goldstein remains Avant CEO
- Motivation: unified federal regulation, direct deposit access, lower cost of funds
- Advisor: Klaros Group (Michele Alt)
- Part of broader fintech de novo charter wave (OCC: 44 applications, 27 approvals since Jan 2025)