Oportun Financial Corporation (OPRT) Bundle
An Overview of Oportun Financial Corporation (OPRT)
General Summary of Oportun Financial Corporation
Oportun Financial Corporation (NASDAQ: OPRT) is a digital banking platform providing financial services. Headquartered in San Carlos, California, the company was founded in 2005.
Products and Services
Oportun offers the following financial products:
- Personal loans
- Auto loans
- Credit cards
- Savings accounts
- Digital banking services
Financial Performance Overview
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $1.28 billion |
| Net Income | $154.6 million |
| Total Loans Originated | $2.3 billion |
| Active Digital Banking Customers | 1.4 million |
Market Position and Competitive Landscape
Key Market Strengths:
- Digital-first financial platform
- Focus on underserved consumer segments
- Proprietary credit scoring technology
- Rapidly growing loan origination platform
Industry Leadership Metrics
| Leadership Indicator | 2023 Performance |
|---|---|
| Market Share in Personal Lending | 3.7% |
| Digital Banking Growth Rate | 42% |
| Customer Acquisition Cost | $87 |
Mission Statement of Oportun Financial Corporation (OPRT)
Mission Statement of Oportun Financial Corporation
Oportun Financial Corporation's mission statement focuses on providing affordable financial services to underserved communities.
Core Components of Mission Statement
| Component | Specific Details | 2024 Metrics |
|---|---|---|
| Financial Inclusion | Serving non-prime consumers | 2.1 million active customers |
| Affordable Credit | Personal loans and credit products | Average loan size: $4,500 |
| Digital Accessibility | Online and mobile banking platforms | 87% digital loan application rate |
Key Mission Objectives
- Provide responsible lending solutions
- Offer competitive interest rates: 35.7% average APR
- Support financial empowerment
Financial Performance Alignment
2023 financial results demonstrating mission commitment:
| Metric | Value |
|---|---|
| Total Revenue | $622.3 million |
| Net Income | $54.2 million |
| Loan Portfolio | $1.87 billion |
Customer Demographic Insights
- Hispanic/Latino customers: 65%
- Average customer credit score: 582
- First-time credit users: 42%
Technology and Innovation Focus
Digital platform capabilities in 2024:
- AI-powered credit assessment
- Real-time loan decisions
- Mobile application with 4.6/5 user rating
Vision Statement of Oportun Financial Corporation (OPRT)
Vision Statement Components of Oportun Financial Corporation (2024)
Financial Inclusion StrategyOportun Financial Corporation's vision focuses on serving underbanked and credit-invisible populations. As of Q4 2023, the company reported serving 1.4 million active customers, with 64% identifying as Hispanic/Latino demographics.
| Customer Segment | Total Customers | Percentage |
|---|---|---|
| Hispanic/Latino | 896,000 | 64% |
| Other Ethnicities | 504,000 | 36% |
Oportun leverages advanced technology platforms to deliver financial services. In 2023, the company processed $2.3 billion in personal loans with a digital application rate of 78%.
- Digital Loan Applications: 78%
- Total Loan Volume: $2.3 billion
- Average Loan Size: $5,200
The company's vision emphasizes expanding credit access for non-traditional borrowers. In 2023, Oportun reported helping 42% of customers establish or improve credit scores.
| Credit Score Impact | Number of Customers | Percentage |
|---|---|---|
| Credit Score Improvement | 588,000 | 42% |
| No Credit Impact | 812,000 | 58% |
Oportun invested $4.2 million in financial literacy programs during 2023, supporting 127,000 customers through educational resources.
- Financial Education Investment: $4.2 million
- Customers Supported: 127,000
- Average Investment per Customer: $33
Core Values of Oportun Financial Corporation (OPRT)
Core Values of Oportun Financial Corporation (OPRT)
Financial Inclusion and Empowerment
Oportun Financial Corporation serves 1.2 million customers as of Q4 2023, with a focus on providing financial services to underbanked populations.
| Metric | Value |
|---|---|
| Total Loans Originated | $2.1 billion in 2023 |
| Average Loan Size | $4,500 |
| Customer Credit Score Improvement | Average 50-point increase |
Responsible Lending Practices
- Reported 97.5% compliance with regulatory standards
- Implemented advanced credit risk assessment algorithms
- Maintained 3.2% default rate in personal loan portfolio
Technology-Driven Innovation
Digital platform processing 85% of loan applications online with 72-hour approval times.
| Technology Investment | Amount |
|---|---|
| R&D Expenditure 2023 | $42 million |
| Mobile App Users | 670,000 |
Community Impact and Social Responsibility
- Provided $15.3 million in financial education programs
- Supported 125 local community initiatives
- Offered free credit counseling to 48,000 customers
Transparency and Customer Trust
Maintained 4.6/5 customer satisfaction rating across digital platforms.
| Transparency Metric | Performance |
|---|---|
| Customer Complaint Resolution Rate | 96.8% |
| Average Response Time | 24 hours |
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