Tag: AI

  • TomoCredit Named to the 2026 Inc. 5000 List of America’s Fastest-Growing Private Companies

    TomoCredit has officially been named to the 2026 Inc. 5000 list of the fastest-growing private companies in America!

    For more than 40 years, the Inc. 5000 has recognized the entrepreneurs and companies driving growth, creating jobs and transforming industries across the United States. Previous honorees include Microsoft, Meta, Chobani and Under Armour, putting TomoCredit in some truly incredible company.

    Companies on the 2026 Inc. 5000 are ranked by their revenue growth percentage from 2022 through 2025. To qualify, companies must be privately held, for-profit, based in the United States, and independently operated. Every honoree must also pass Inc.’s editorial review.

    Earning a place on this year’s list is an exciting milestone for TomoCredit and a meaningful sign of the growing demand for more accessible, personalized financial technology.

    Building a More Inclusive Consumer Finance System

    TomoCredit was founded by CEO Kristy Kim after her own experience navigating the U.S. credit system as a South Korean immigrant.

    Despite working as an investment banker, Kristy struggled to qualify for an auto loan because she did not have an established U.S. credit history. Her income and financial responsibilities could not offset the absence of a traditional credit score.

    Millions of immigrants, students, young adults, and credit-invisible consumers encounter similar barriers. They may be earning income, paying bills and working toward important financial goals, but the traditional credit system does not always provide a clear way for them to establish themselves.

    TomoCredit was created to give more people an opportunity to build credit and move forward financially.

    What This Means for AI-Powered Consumer Finance

    TomoCredit’s growth also reflects a major change underway in consumer finance.

    People want financial tools that understand their real questions and circumstances. They need clear, personalized guidance that can help them make decisions about credit, saving, spending and their long-term financial goals.

    Through TomoIQ, TomoCredit is using AI to make personalized financial guidance available to more consumers. The AI-powered financial assistant is designed to meet people where they are, answer their financial questions and help them better understand the steps they can take next.

    Personalized financial advice has historically been difficult or expensive to access. AI has the potential to bring that level of support to millions more people, including those who have often been overlooked by traditional financial institutions.

    TomoCredit’s place on the Inc. 5000 demonstrates that consumers are ready for financial technology that feels more accessible, useful, and personal.

    Celebrating the People Behind the Growth

    The Inc. 5000 measures revenue growth, but reaching this milestone requires trust.

    It requires customers who believe in the product, team members who continue to listen and improve, and a shared commitment to solving real financial challenges.

    This recognition reflects every customer who chose TomoCredit, every employee who helped build and grow the company, and every person who believed consumer finance could serve more people.

    We are incredibly grateful to everyone who has been part of TomoCredit’s journey.

    Making the 2026 Inc. 5000 is an achievement worth celebrating—and we are even more excited about what comes next.

  • How to Build Winning Consumer Finance Applications in the Age of AI

    Artificial intelligence is transforming nearly every industry, but few sectors have as much opportunity as consumer finance.

    Today’s consumers expect financial products to be as intuitive as the apps they use every day. They want faster decisions, personalized guidance, and experiences that feel simple—not overwhelming.

    At the same time, millions of people still avoid applying for financial products because they assume they’ll be denied, don’t understand how credit works, or simply don’t know where to begin.

    Building winning consumer finance applications isn’t just about adding AI. As we’ve learned at TomoCredit, it’s about creating experiences that help people feel informed, confident, and supported throughout their financial journey.

    During my recent interview with FintechTV, we discussed how AI is reshaping consumer finance and why personalization is becoming one of the industry’s biggest competitive advantages. (Watch the full interview below.)

    What Makes a Great Consumer Finance Application?

    The best consumer finance applications solve real problems for real people.

    That means moving beyond traditional application forms and creating experiences that help users understand their options while reducing unnecessary complexity.

    Successful financial applications typically focus on five core principles:

    • Simplicity over complexity
    • Personalization instead of one-size-fits-all experiences
    • Transparency throughout the application process
    • Trust through responsible AI and data protection
    • Education that empowers better financial decisions

    Technology should make finance feel easier—not more intimidating.

    Start With the Customer Experience

    Many financial products are designed around internal systems rather than customer needs.

    The most successful fintech companies flip that approach.

    Instead of asking, “What information do we need?” they begin by asking, “What is this customer trying to accomplish?”

    Someone building credit for the first time has very different needs than someone with years of financial history. A recent immigrant entering the U.S. financial system faces different challenges than a recent college graduate.

    Modern consumer finance applications should recognize these differences and adapt accordingly.

    AI Should Make Finance More Personal

    Artificial intelligence allows financial platforms to move beyond generic recommendations.

    Instead of presenting the same information to every customer, AI can provide personalized education, tailored financial insights, and next-best actions based on an individual’s unique circumstances.

    This creates a better customer experience while helping users make smarter financial decisions.

    The goal isn’t replacing people with AI.

    It’s helping people navigate financial decisions with greater confidence.

    Reduce Friction at Every Step

    Application abandonment remains one of the biggest challenges in digital finance.

    Every unnecessary question, confusing screen, or lengthy process increases the likelihood that someone gives up before completing an application.

    Winning consumer finance applications remove friction wherever possible.

    That includes:

    • Using plain language instead of financial jargon
    • Explaining why information is being requested
    • Providing real-time guidance throughout the application
    • Eliminating unnecessary steps
    • Designing mobile-first experiences

    Good design builds trust.

    Great design builds confidence.

    Trust Is the Foundation of Consumer Finance

    Financial institutions ask customers to share highly personal information.

    That means trust can’t simply be a marketing message—it has to be part of the product experience itself.

    Consumers should understand:

    • Why their information is being collected
    • How AI is supporting financial decisions
    • How their data is protected
    • What factors influence recommendations

    Transparency helps people feel more comfortable engaging with financial products.

    The Future of Consumer Finance Is Human-Centered

    The companies leading the next generation of fintech won’t necessarily be the ones using the most advanced technology.

    They’ll be the ones using technology to remove barriers, improve financial literacy, and create experiences that genuinely help people succeed.

    At TomoCredit, we’ve always believed that innovation should expand financial opportunity—not create additional complexity.

    AI gives us an incredible opportunity to personalize financial guidance, improve accessibility, and help more people build stronger financial futures.

    That’s the future of consumer finance we’re excited to help build.

    Watch the full FintechTV interview below to learn more about how AI is transforming consumer finance, personalization, and the future of financial technology.

  • I Asked ChatGPT How to Build Credit. Here’s What It Got Right (And Wrong)

    If you’ve ever Googled a financial question, you’ve probably noticed that the internet is not short on opinions. Want to know how to build credit? There are thousands of articles. Wondering what a good credit score is? You’ll find pages and pages of advice.

    Now, a lot of people are skipping Google altogether and heading straight to ChatGPT.

    It makes sense. Instead of sorting through ten articles and a Reddit thread from 2017, you can ask a question and get an answer in seconds. As someone who has spent years helping consumers navigate credit, I was curious how good those answers actually are. So I decided to run a little experiment.

    I asked ChatGPT a simple question: How do I build credit if I have no credit history?

    The answer was pretty good.

    It explained that payment history is important, recommended keeping balances low, and suggested opening a starter credit card. None of that advice was wrong. In fact, it’s the same advice you’ll find in many financial literacy articles.

    But the more I read the response, the more I realized something important: ChatGPT was giving me information, not guidance.

    The Problem With Generic Financial Advice

    The challenge with credit building is that there isn’t one path that works for everyone.

    A recent college graduate has different financial needs than a recent immigrant. Someone who has never had a credit card faces different challenges than someone trying to rebuild after a financial setback. Two people can ask the exact same question and need completely different answers.

    That’s where ChatGPT—and honestly, most financial advice online—starts to fall short.

    The advice is designed for an average person. The problem is that most of us aren’t average. We all bring different experiences, goals, and financial histories to the table.

    When I asked ChatGPT how to build credit, it couldn’t tell whether I had recently moved to the United States. It couldn’t tell whether I’d been denied for a credit card three times already. It couldn’t tell whether I was trying to establish credit while avoiding debt altogether. If you’re new to the U.S. check out this article about building credit. 

    Those details matter. In many cases, they’re the difference between advice that sounds good and advice that actually helps.

    Financial Education Has Never Been More Accessible

    To be fair, I think AI has the potential to make financial education dramatically more accessible.

    For years, many people felt intimidated asking financial questions. They worried about sounding uninformed or didn’t know where to start. AI removes some of that friction. It allows people to ask basic questions without judgment and get answers immediately.

    That’s a good thing.

    If ChatGPT encourages someone to learn how credit works, understand their credit score, or take an interest in their financial future, that’s a win.

    The issue isn’t that AI is providing bad information. The issue is that information alone doesn’t always solve the problem.

    What People Actually Need

    In my experience, most people don’t need another article explaining what a credit score is.

    They need help figuring out what to do next.

    Should they apply for a card now or wait?

    Should they focus on paying down balances first?

    Should they become an authorized user?

    Are they even looking at the right financial product for their situation?

    Those are harder questions because they depend on context.

    That’s why personalized guidance matters. The best financial advice isn’t just accurate. It’s relevant.

    Where Personalized AI Comes In

    This is exactly the gap we think about when building products at TomoCredit.

    General-purpose AI tools are designed to answer questions. They’re trained to provide useful information to millions of people at once. But personal finance isn’t really a one-size-fits-all problem.

    That’s why we built TomoIQ differently.

    Rather than offering the same generic response to everyone, TomoIQ is designed to understand where someone is in their financial journey and provide recommendations that are actually relevant to their circumstances. The goal isn’t just to explain credit. The goal is to help people make better financial decisions based on their own situation.

    Because knowing how credit works and knowing what to do next are two very different things.

    My Final Take

    After running this experiment, as someone who has been down this road before, my conclusion is pretty simple.

    ChatGPT is surprisingly good at explaining the fundamentals of credit. If you’re looking to learn the basics, it’s a fantastic place to start.

    But when it comes to making real financial decisions, context still matters. Your goals matter. Your history matters. Your circumstances matter.

    AI can answer questions. The future of financial wellness will belong to tools that can understand the person, asking them.

    And that’s a much harder problem to solve than explaining what a credit score is.

  • Why Gen Z Is Using ChatGPT for Financial Advice

    People aren’t just looking for answers. They’re looking for a safe place to ask questions.

    Not long ago, if you had a question about money, you searched Google, asked a financially savvy friend, or reached out to your bank. Today, more and more people—especially younger consumers—are opening ChatGPT first.

    At first glance, that sounds like a story about technology. But I think it’s actually a story about trust.

    People are asking AI questions they often feel uncomfortable asking another person: Why was I denied for a credit card? Is my credit score bad? Can I afford this apartment? Am I behind financially? These aren’t just financial questions; they’re emotional ones. Money carries anxiety, embarrassment, and pressure in ways we rarely talk about openly. For many people, asking for help can feel vulnerable.

    That’s why I think this shift matters. Younger generations aren’t adopting AI simply because it’s faster or more convenient. They’re using it because it creates something traditional financial systems often haven’t: a judgment-free environment.

    Finance has always had an accessibility problem

    Historically, financial advice hasn’t been built for everyone. Many traditional financial tools assume consumers already understand the system. Advisors often cater to higher-net-worth individuals, and financial products frequently expect users to arrive with a baseline level of financial knowledge.

    But millions of people are learning as they go.

    Immigrants arrive in the U.S. with no local credit history. Recent graduates enter adulthood with student loans and little financial guidance. Freelancers navigate inconsistent income. First-generation Americans often learn the rules of finance without family roadmaps.

    This is something I understand personally.

    When I immigrated from South Korea to the United States, I had done everything I thought I was supposed to do. I worked hard, had a great job, graduated from a great school, but without a U.S. credit profile, I was completely invisible to the system. 

    That experience shaped my perspective because I realized financial systems often confuse missing information with risk.

    Millions of people are still experiencing that today.

    AI may be solving a problem that banks underestimated

    One of the most interesting things happening right now isn’t AI replacing financial professionals. It’s AI becoming a first stop for questions people might otherwise avoid asking.

    Unlike people, AI doesn’t make someone feel embarrassed for asking the same question five times. You can ask it to explain APR like you’re twelve. You can admit you don’t understand credit utilization. You can ask a “basic” question without feeling like you’re behind everyone else.

    That dynamic matters more than many people realize.

    The conversation around AI often focuses on whether it can replace advisors or automate financial guidance. I think the more important question is why consumers increasingly feel more comfortable asking AI than asking traditional institutions.

    Because that tells us something about what people were missing in the first place.

    The future of finance is guidance, not just information

    For years, financial products acted like dashboards. They showed people account balances, credit scores, and transaction histories and expected them to figure out what those numbers meant on their own.

    But younger generations increasingly want financial products that act more like guides.

    They want context. They want personalization. They want tools that don’t simply display information but help explain what to do next.

    That thinking influenced how we built TomoIQ.

    At Tomo, we saw an opportunity to rethink what financial guidance could look like. Instead of building another product that simply shows people data, we built TomoIQ as a personalized AI financial assistant designed to help everyday consumers better understand and navigate their financial lives.

    Most financial tools have historically catered to people who already have money, already understand the system, or already know the right questions to ask. But millions of Americans are trying to decide how to build credit, improve financial habits, manage emergencies, or make everyday decisions with less than $1,000 in savings.

    Those consumers deserve guidance, too.

    AI should not only help people optimize wealth. It should help people build it.

    The biggest financial problem might not be debt—it might be shame

    I believe one of the most overlooked barriers in personal finance today is shame.

    Financial anxiety causes people to delay asking questions, avoid checking accounts, or postpone learning because they worry they’re already behind. Often, the issue isn’t motivation. It’s discomfort.

    Technology alone won’t solve that. But creating environments where people feel safe enough to ask questions might.

    Maybe that’s why younger consumers are increasingly turning to AI for financial advice.

    Not because they trust machines more.

    Because they’re still searching for financial experiences that feel human.

  • Start a Business With Bad Credit (2026 Guide): Loans, Cards & Funding Options

    Yes — you can start a business with bad credit. A low credit score may limit some traditional financing options, but it does not stop you from becoming an entrepreneur. Today, there are multiple ways to get startup funding, build business credit, and improve your financial profile while growing your business.

    If you have been wondering whether bad credit will prevent you from launching a company, the answer is no. The key is understanding which business funding options are realistic, how personal credit differs from business credit, and what steps you can take right now to improve your approval odds.

    According to the Consumer Financial Protection Bureau, millions of Americans have credit scores that fall below the range many traditional lenders prefer. That means you are far from alone — and you still have options.

    Can You Start a Business With Bad Credit?

    Yes, you can absolutely start a business with bad credit. While a lower score may make it harder to qualify for traditional bank loans, many entrepreneurs launch successful businesses using alternative funding sources, secured business credit products, and smart credit-building strategies.

    Bad credit is not the end of the road. It is simply your starting point.

    Why Bad Credit Should Not Stop You From Starting a Business

    Traditional banks are only one part of the small business funding landscape. Many lenders and financial platforms now look beyond a credit score alone. Some evaluate your revenue, banking history, cash flow, or overall business potential instead.

    This means a poor credit score does not automatically disqualify you from getting the tools you need to launch and grow a business. Instead, it means you need to focus on the financing products and lenders that are designed for borrowers in your position.

    Personal Credit vs. Business Credit: What New Entrepreneurs Need to Know

    One of the biggest misconceptions among first-time founders is that personal credit and business credit are the same thing. They are not.

    Your personal credit score reflects your individual borrowing history. Your business credit profile reflects how your business manages financial obligations. Once your business is legally formed, you can begin building business credit separately from your personal credit history.

    To start building business credit, you should:

    • Register your business entity
    • Get an EIN from the IRS
    • Open a dedicated business bank account
    • Apply for business credit products that report payment history
    • Pay vendors and creditors on time

    Over time, this can help your business develop its own credit identity, even if your personal score still needs work.

    Best Business Funding Options for Bad Credit

    If you want to start a business with bad credit, these are some of the most realistic financing options to explore.

    1. Microloans

    Microloans are small business loans, often offered through nonprofit lenders and community-based programs. Many microloan providers look at your business plan, character, and repayment ability rather than only your credit score.

    2. CDFIs

    Community Development Financial Institutions, or CDFIs, specialize in serving entrepreneurs who may not qualify for traditional financing. They are often more flexible with lower credit scores and can be a strong option for underserved founders.

    3. Revenue-Based Financing

    If your business is already generating sales, some lenders may offer funding based on your revenue instead of your credit score. This can be useful for business owners with weak credit but strong cash flow.

    4. Merchant Cash Advances

    Merchant cash advances provide upfront funding in exchange for a portion of future sales. These can be easier to access, but they are usually more expensive, so they should be approached carefully.

    5. Secured Business Credit Cards

    A secured business credit card can be one of the best ways to start building business credit. You provide a deposit, use the card for business purchases, and establish payment history over time.

    How to Check Your Credit Before Applying for Business Funding

    Before applying for any business loan or business credit card, you need to know where your credit stands today. That means checking your score, reviewing your report, and identifying any issues that may be lowering your approval chances.

    Check Your Credit Score

    Start by reviewing your current credit score so you have a realistic picture of where you stand. This helps you narrow your options and avoid wasting applications on products that are out of reach.

    Look for Credit Report Errors

    Errors on your credit report can drag your score down without you realizing it. These may include:

    • Accounts that do not belong to you
    • Incorrect balances
    • Outdated negative marks
    • Fraudulent activity
    • Incorrect payment statuses

    Disputing inaccurate information can potentially improve your score faster than many other strategies.

    How TomoIQ Can Help You Start a Business With Bad Credit

    Tomo and TomoIQ are designed to help users better understand their financial profile and discover financial products matched to their situation.

    With TomoIQ, users can:

    • Check their credit profile
    • Identify issues that may be hurting their score
    • Explore business cards and funding options
    • Get matched with products based on real financial data
    • Take steps toward building stronger personal and business credit

    Instead of guessing which lenders or cards may approve you, TomoIQ helps simplify the search process and make your next financial move more strategic.

    How to Build Credit While Running a Business

    If you are starting a business with bad credit, your goal should be to build both your business credit and your personal credit at the same time.

    Ways to Improve Personal Credit

    • Make every payment on time
    • Keep credit utilization low
    • Avoid applying for too many accounts at once
    • Review your credit reports regularly
    • Dispute inaccurate negative items

    Ways to Build Business Credit

    • Use a dedicated business bank account
    • Apply for business credit products that report to bureaus
    • Pay all vendors on time
    • Register with Dun & Bradstreet
    • Keep business finances separate from personal finances

    These habits can strengthen your financial foundation and help you qualify for better terms over time.

    Step-by-Step: What to Do Right Now

    1. Check your current credit score.
    2. Review your credit report for errors or fraudulent accounts.
    3. Apply for an EIN through the IRS.
    4. Open a dedicated business checking account.
    5. Register your business credit file with Dun & Bradstreet.
    6. Explore business funding options that fit your profile.
    7. Apply for a secured business credit card if appropriate.
    8. Use TomoIQ to track progress and identify next steps.

    Frequently Asked Questions

    Can I get a business loan with bad credit?

    Yes. While traditional banks may be more restrictive, some microloan lenders, CDFIs, online lenders, and revenue-based financing providers work with borrowers who have lower credit scores.

    Can I get a business credit card with bad credit?

    Yes. Secured business credit cards and some alternative-underwriting products may be available to entrepreneurs with bad credit or limited credit history.

    Will starting a business hurt my personal credit?

    Starting a business by itself does not hurt your personal credit. However, some business loan or card applications may involve a hard inquiry or personal guarantee, which can affect your score temporarily.

    How fast can I improve my credit score?

    The timeline depends on your specific profile, but paying down revolving balances, making on-time payments, and disputing inaccurate report items can lead to improvements faster than many people expect.

    Should I wait until my credit improves before starting a business?

    In many cases, no. You can begin building your business credit while also working on your personal credit. Starting sooner may help you establish momentum in both areas.

    The Bottom Line

    You do not need perfect credit to become a business owner. You need a realistic plan, the right funding strategy, and tools that help you understand what is actually available to you.

    Bad credit may affect where you start, but it does not determine how far you can go.

    If you want to explore credit tools, funding options, and smarter next steps based on your real financial profile, visit TomoIQ.