|By Business Wire||
|September 3, 2014 06:00 AM EDT||
VantageScore Solutions, LLC, the company behind the VantageScore® credit scoring model, announced today the hiring of Mike Trapanese as Senior Vice President, Strategic Planning and Strategic Alliances.
In this newly created position, Trapanese assumes responsibilities for refining and executing an ongoing strategic plan focusing on the growth and traction of the VantageScore model among consumer lending institutions. Trapanese will also provide outreach to VantageScore Solution’s industry and advocacy partners, as well as to the company’s growing stable of other strategic relationships. He will report to Barrett Burns, president and CEO of VantageScore Solutions.
Prior to joining VantageScore Solutions, Trapanese oversaw strategy and corporate development at the Federal Home Loan Bank of New York. In that capacity, he was instrumental in developing strategies, programs, investments, and policies to position the bank within the evolving housing-finance supply chain. Trapanese began his career as a management consultant, working with some of the largest financial services firms in the world on their most pressing strategic challenges.
“The VantageScore model has gained tremendous traction across the consumer credit landscape, and the time is right to bring in an expert who can help us leverage these growing trends and maximize the opportunities ahead,” said Burns. “Mike’s unique skill set that includes deep background in lending and corporate strategy will help VantageScore Solutions continue to grow, and to position ourselves for the future, particularly within the rapidly evolving secondary market for consumer loans.”
Trapanese’s official start date was July 21, 2014. He holds a MBA from the Wharton School at the University of Pennsylvania where he was a fellow in the Program for Executives. He holds a BA from Boston College.
About VantageScore Solutions
VantageScore Solutions, LLC (www.vantagescore.com) is the independently managed company that owns the intellectual property rights to the VantageScore credit scoring models, including the recently announced VantageScore 3.0 model which provides up to 25 percent predictive improvement over earlier models and has the ability to formulate a score for 30 – 35 million previously unscoreable consumers. Initially developed by America’s three national credit reporting companies (CRCs) — Equifax, Experian and TransUnion — VantageScore Solutions’ highly predictive models use an innovative, patented and patent-pending tri-bureau scoring methodology that provides lenders and consumers with more consistent credit scores across all three national credit reporting companies.
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