Mission Statement, Vision, & Core Values (2025) of OppFi Inc. WT.

An Overview of OppFi Inc. WT

General Summary of OppFi Inc.

OppFi Inc. was founded in 2013, focusing on providing financial solutions for underserved consumers through innovative technology. The company's primary product is its installment loan, designed to offer transparent and accessible credit options. As of 2024, OppFi has expanded its product suite to include personal loans and access to credit lines, serving a growing customer base.

In 2024, OppFi reported total sales of approximately $146 million, reflecting a significant increase compared to previous years. The company has established a diverse clientele, leveraging its proprietary technology platform to enhance customer experience and streamline loan processing.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for Q2 2024, OppFi achieved record-breaking revenue of $68 million, representing a year-over-year growth of 25% from Q2 2023. The main driver of this growth was the significant increase in installment loan originations, which surged to $250 million. This reflects a robust demand for alternative lending solutions in an evolving economic landscape.

Furthermore, the company reported a net income of $10 million, translating to an earnings per share of $0.35. OppFi's strong financial performance is supported by its strategic expansion into new markets, including partnerships with various e-commerce platforms that enable seamless credit access at point-of-sale.

Introduction to OppFi as a Leader in the Industry

OppFi has positioned itself as a leader in the fintech industry, particularly in providing credit solutions to the underserved demographic. The company's innovative approach and commitment to customer service have earned it a reputation for reliability and transparency. OppFi's growth trajectory, marked by a steady increase in market share, showcases its ability to adapt to changing consumer needs and economic conditions.

As of 2024, OppFi continues to explore new avenues for growth, including international markets and product diversification. Investors and stakeholders are encouraged to delve deeper into the company's operations and strategic initiatives to understand the factors contributing to its ongoing success.

Mission Statement of OppFi Inc. WT

Mission Statement of OppFi Inc.

OppFi Inc. is driven by its mission to provide accessible financial solutions for underserved consumers. The company's mission statement emphasizes its commitment to improving the financial health of its customers by offering innovative products designed to meet their unique needs.

Core Components of the Mission Statement

1. Accessibility

Accessibility is a fundamental aspect of OppFi's mission. The company aims to bridge the gap for the millions of Americans who struggle to secure traditional banking services. According to recent statistics, approximately 20% of U.S. households are either unbanked or underbanked, highlighting a significant market opportunity for OppFi.

2. Financial Health Improvement

Improving financial health is central to OppFi's mission. The company focuses on offering products that empower consumers to manage their financial futures better. In 2023, OppFi reported that its customers saw an average credit score increase of 50 points within six months of using their services, showcasing a tangible impact on financial health.

3. Innovation in Financial Solutions

Innovation is pivotal to OppFi’s approach. The company continually develops new products to serve its customers' evolving needs. In 2023, OppFi introduced a new line of installment loans with competitive rates, which saw a 30% increase in customer adoption compared to previous offerings. This illustrates the company’s dedication to remaining at the forefront of the fintech industry.

Through these components, OppFi Inc. articulates its commitment to serving underserved consumers while continually adapting to meet their financial needs. The emphasis on accessibility, financial health, and innovation reflects the company's strategic objectives and dedication to making a meaningful difference in the financial landscape.

Vision Statement of OppFi Inc. WT

Core Vision of OppFi Inc. (2024)

OppFi Inc. aims to be a leader in providing accessible financial solutions to underbanked consumers. The company's vision reflects its commitment to bridging the gap between traditional financial institutions and underserved communities.

Customer-Centric Approach

OppFi's vision emphasizes understanding and addressing the needs of its customers. The company focuses on simplifying access to credit products that fit the financial profiles of its target audience.

• Customer Satisfaction Rate: 90%+ based on internal surveys.
• Repeat Customer Rate: Approx. 60% in 2023, showing strong retention.
• Customer Support Response Time: Average of 2 hours for inquiries.

Innovative Financial Products

The vision includes the continual development of innovative financial products that empower consumers. This aligns with their goal of delivering flexible solutions that meet diverse financial needs.

• Total Loan Originations: $1.2 billion in 2022.
• Average Loan Size: $1,500 as of Q3 2023.
• Product Diversification: Introduced personal loans and savings accounts in 2023.

Technological Advancement

Technology is at the core of OppFi's vision. The company leverages advanced data analytics and machine learning to enhance decision-making and operational efficiency.

• Investment in Technology: $25 million allocated to R&D in 2023.
• System Uptime: 99.9%, ensuring reliability for customers.
• Data Processing Speed: Real-time processing of applications within 5 minutes.

Financial Inclusion

OppFi envisions a world where everyone has access to essential financial services. Their mission includes advocating for financial literacy and inclusion for underbanked populations.

• Number of Customers Served: Over 600,000 as of 2023.
• Annual Growth Rate: 30% in customer base year-over-year.
• Partnerships with Community Organizations: Collaborated with 50+ to promote financial education.

Community Engagement

OppFi's vision also prioritizes engagement with communities. Their initiatives focus on enhancing financial literacy and providing resources for better financial management.

• Community Workshops Held: 100+ in 2023.
• Participants in Workshops: Over 5,000 individuals educated.
• Scholarships Awarded: $500,000 in financial literacy scholarships.

Core Values of OppFi Inc. WT

Integrity

Integrity is the cornerstone of OppFi Inc.'s operations, emphasizing honesty and transparency in every aspect of the business. This core value fosters trust with customers, employees, and stakeholders.

In 2023, OppFi reported an overall customer satisfaction rate of 92%, reflecting its commitment to ethical practices. The company has implemented a robust whistleblower program to encourage employees to report unethical behavior without fear of retaliation. This initiative has helped address concerns in real-time, reinforcing the company's integrity.

Customer Commitment

Customer commitment is vital for OppFi, driving the company to deliver exceptional service and tailored financial solutions. The organization continuously seeks to understand and meet the evolving needs of its customers.

In Q2 2023, OppFi launched a new mobile app, leading to a 30% increase in customer engagement. The app's features, such as easy access to credit monitoring and personalized financial tips, showcase the company's dedication to enhancing the customer experience.

Moreover, OppFi's customer support team resolved over 85% of inquiries within the same day in the past year, demonstrating efficiency and responsiveness.

Community Engagement

Community engagement at OppFi involves actively contributing to the financial education and welfare of the communities it serves. The company believes in giving back and fostering financial literacy.

In 2023, OppFi partnered with local nonprofits to host financial literacy workshops, serving over 1,500 participants. These workshops covered budgeting, saving, and responsible borrowing, aimed at empowering individuals with essential financial skills.

The company's philanthropic efforts also include a matched donations program, where OppFi matches employee contributions to community organizations up to $5,000 annually, promoting a culture of giving.

Innovation

Innovation drives OppFi's growth and evolution, pushing the company to leverage technology in providing better financial services. This value encourages a culture where creative solutions are cultivated.

In 2023, OppFi invested $10 million in technology enhancements, focusing on machine learning algorithms for risk assessment. This investment resulted in a 15% decrease in default rates, showcasing the effectiveness of innovative technologies in risk management.

The company also launched an innovation incubator program, which supported over 50 employee-led projects in the last year, encouraging a forward-thinking mindset among staff.

Diversity and Inclusion

Diversity and inclusion are central to OppFi's corporate culture, promoting a workplace where all voices are valued. This commitment enriches the company's perspectives and decision-making processes.

As of 2024, OppFi reported that women make up 45% of its workforce, with 30% in leadership roles. The company actively participates in diversity recruitment initiatives, ensuring a wide range of backgrounds and experiences are represented.

Additionally, OppFi's Employee Resource Groups (ERGs) have grown by 50% in the past year, providing support and networking opportunities for underrepresented groups within the organization.