Prodigy Finance

Prodigy Finance, founded in 2007 by Cameron Stevens, Ryan Steele, and Miha Žerko, provides financing for international professional students. Using an innovative risk assessment model based on future earnings projections, Prodigy has successfully funded MBA students from top-ranked schools globally. The company transitioned from a crowdfunded model to institutional funding, partnering with Credit Suisse in 2014 to create the Higher Education Notes program. This growth led to significant capital infusion and possible expansion into new academic disciplines such as engineering, law, and public policy.

Prodigy faces crucial decisions as it considered expansion. One option is to diversify its product offerings beyond student loans, exploring personal and business loans, credit cards, and insurance products. These initiatives involve developing new financial products internally while leveraging partnerships for broader services. Additionally, Prodigy considered enhancing its presence in markets like China, requiring adaptations in marketing strategies and risk assessments. Another path involves leveraging its risk model to offer credit scoring services globally, potentially transitioning from a B2C to a B2B framework. Prodigy realized that the overarching concern that needed to be considered for all of these options and others was how the company would balance the mix of innovative financial products while maintaining its community-driven focus.      

Developed in partnership with INSEAD