Apple Exec, Who Helped Scale Its Credit Card Business, Jumps Ship To California Startup
Abhi Pabba, a key Apple Inc AAPL executive who functioned as the tech giants head of credit, is leaving to join a rival credit card startup.
What Happened: Pabba will be joining California-basedX1 Card as chief risk officer, the start-up said in a statement on Thursday.
Pabba will be responsible for scaling X1's innovative underwriting strategy to hundreds of thousands of cardholders, said X1.
Why It Matters: Pabba's time at the Tim Cook-led company spanned a little over a year, according to his LinkedIn profile. Before that, he was a senior manager with Capital One for 9 years.
X1 saidPabba helped scale Apple Card into a rapidly growing business and brought new innovations in credit strategies. They noted that at Capital One,Pabba was heading the credit function for the $3 billion credit card authorization program.
The executives exit comes after Apple spun a wholly-owned subsidiary to handle its newly introduced buy now pay later service.
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