The Future of Credit

Meet Evan Leaphart, Founder & CEO of Kiddie Kredit and Co-Founder of the Black Men Talk Tech Conference.

Evan is on a mission to build a financially free future for all.

Although there is a ton of financial education out there, we as a society still have a huge problem with credit. Today, 90 million adult Americans have credit issues, and 4 out of 10 adult Americans don't know how to calculate their own credit score.

Credit is a key component to building a life. It is how we get a mortgage for a house, a lease for a car, or a business loan to start a venture. A bad credit score and a lack of understanding around how credit works can seriously stunt an individual's life goals.

But, when utilized properly, credit is one of the greatest tools to generate wealth. That's why Evan and the Kiddie Kredit team are educating about credit responsibility - especially to those who have limited access to capital - all in the name of economic inclusion and equality.

Tune into our conversation below and read Evan's full article to learn why he thinks gamification is the key to better financial habits, and how community plays a big role in creating a better financial future for all.

#TechTuesday?Highlight #116:?Evan Leaphart, Founder & CEO of Kiddie Kredit

How/why did you get into your space?

I got into the space because I was personally affected by bad credit. It affected my ability to get access to loans for my business and one of the jobs I wanted.?I felt as though there must be a better way to teach kids about the importance of good credit at a young age, which is how I came up with the concept of Kiddie Kredit. By gamifying the system in a way that doesn't harm credit, but teaches?them the importance of the FICO model, I can help ensure the next generation doesn't go through the same problems I had in getting a loan.?

What role do you play in the tech ecosystem and why is that role important?

I wear two hats in this space. I am a fintech founder of color who aims to build a solution that not only starts out educating at a younger age than most. I have to deal with all the excitement, complications and difficulties that come with building a business, and seeing my idea come to fruition. In addition, I am also the co-founder of Black Men Talk Tech. This is a tech conference that helps founders, technologists and investors gather annually in the name of increasing representation within the tech ecosystem amongst African Americans. The truth is there still isn't enough diversity, and finding a community can be difficult. I help to bridge those connections so that other founders know they are supported amongst the community.?

How has technology impacted your industry and why is this important??

While Fintech?is undoubtedly disrupting old systems and reducing barriers to entry, the finance industry, overall, moves slowly and with good reason. There are compliance, regulatory, and privacy issues that need to be taken into account. After all, you're dealing with people's money and it has to be done carefully. Fintech solutions are helping banks move faster, and meet people where they want to be met - digitally. But then you have things like FICO, which was invented well before smart phones and still is an important part of our financial system.?It’s a beautiful blend of the old and the new, but one that is continually in tension.?

What do you believe is the most exciting tech trend for 2022 (as it relates to your industry)?

I think you will see more banking solutions stop the separation of finance and financial literacy. We shouldn’t have to use our money and then learn about it at a different time, these things can all be accomplished in unison.

Who is a person that inspires you in the space and why?

I’ve always been inspired by the team at Central Payments and the team at Discover. From Trent Sorbe and Nikkee Rhody at Central Payments to Miladys Felix and Daniel Pease at Discover they possess the rare ability to have so much knowledge and readily available to provide a helping hand in the midst of busy schedules. Forever grateful as that was where my crash course in fintech started.

What advice would you give to someone who wants to get into your space?

Mentors are key,?and make sure you LEARN as much as you can from them. Be a sponge.?Assume you know nothing and ask everything no matter?how dumb you think a question must be. Understanding you know nothing and other?people have come before you is incredibly?important. Once you accept this, you’ll be amazed at the support you get to help you build.?

Anything else we should know about you or you want to include?

Well, considering it's the start of the NFL season, I’m a huge Steelers fan. I was born in Pittsburgh and I have to thank my late father for instilling in me such a devoted football passion. The team from top down preaches consistency and it’s one of the traits in people I admire the most.

Outside of that I’m very passionate about the Miami Tech ecosystem, and even received a key to Miami-Dade county in 2019 for my efforts within the city in helping to build the start up ecosystem. The key was given to my by the Beacon Council. It doesn’t open any doors, maybe metaphorically it does but other than that it is just something I’m forever grateful to have received from the county mayor at the time.

#fintech?#innovation?#tech?#techtuesday #credit #creditrestoration #finance #financialinclusion #financialliteracy #financialliteracyforkids #financialfreedom

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Have thoughts on this week’s trends or questions for me or Evan? Post your thoughts in the comment section or share them on Twitter. Please include the hashtag?#techtuesday?and mention me @ScarlettSieber! Until next week.???

You can connect with Evan on LinkedIn and Twitter.

Follow?Scarlett Sieber on LinkedIn?for the latest news in?#fintech.