Petal

Solution

Credit card startup Petal is a trailblazer in broadening access to consumer credit. Consumers can use their banking history to qualify for Petal credit cards instead of relying on credit history alone to demonstrate creditworthiness. This transformative approach to credit underwriting, which Petal pioneered, has enabled hundreds of thousands of consumers who would typically be turned away by mainstream card issuers to gain access to credit and build credit history. Petal was born in 2016 after one of its founders experienced challenges acquiring credit in the United States as an international student with no US credit history. This inspired the founders to reimagine the credit decisioning process to better serve those with little or no credit history.

Data flow

"By using Amazon S3, we can maintain high availability of our application page for our millions of applicants." For data storage, Petal uses Amazon Relational Database Service (Amazon RDS) for PostgreSQL to store its core transactional business data. RDS helped Petal quickly and easily scale its transactional data processing needs during periods of rapid growth. On AWS, Petal's infrastructure easily scales vertically and horizontally as the company has grown from processing a few dozen applications in the beginning to now handling millions of applications.