Company: Ann Kaplan, Las Vegas, NV
Company Description: Parent Company to: Insurance, Real Estate, Fashion, Accountability Platform
Nomination Category: Individual Awards Categories
Nomination Sub Category: Woman of the Year - Accounting & Finance
 Nomination Title: Ann Kaplan
- Which will you submit for your nomination in this category, a video of up to five (5) minutes, explaining the achievements since July 1, 2020 of the nominated woman, OR written answers to the questions? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video. If you are submitting written answers to the questions for this category, provide them in the spaces below:
1/2. Written Answers
- Briefly describe the nominated individual: history and past performance (up to 200 words):
Total 190 words used.
3. Dr. Ann Kaplan founded a national finance Company in 1996. She took the business of financing medical, dental and veterinary procedures (consumer loans) from start-up to recognize over $2B in loan applications. In the early stages of the Company, Ann was recognized with the Peak Award of Excellence in Finance, Profit Start-Up Award for Canada and the prestigious EY Female Entrepreneur of the Year.
Ann spearheaded the Company through various economic cycles, while completing her MBA in Finance and MSc (Finance) followed by a Doctorate (Finance) and a Corporate Governance Designation. She was recognized by the Rotman School of Management as one of the top ten female graduates of all time (WIMA Award). During her tenure with iFinance, Ann was recognized again (twice) with the EY Canadian Female Entrepreneur of the Year and inducted into the Canadian Hall of Fame as one of Canada's Most Powerful Women.
In recent years, Dr. Kaplan studied AI, incorporating machine learning into the credit adjudication models of the Company. She led a team to produce algorithms that would auto-approve credit at point-of-sale taking the Company to a respected level in the FINTECH space.
- Outline the nominee's achievements since July 1 2020 that you wish to bring to the judges' attention (up to 250 words):
Total 244 words used.
4. Since 2020 and following a twice Co-Chair of the G20Y Summit in Banking and Finance, Ann Kaplan completed a conversion of manual credit adjudication (offering small ticket consumer loans) on an automated platform. Investing in a technology team, she also incorporated AI (Machine Learning) to enhance the credit algorithm.
During the pandemic, the Company was met with challenges of mobilizing a national credit staff of 100 to work remotely. Kaplan made the choice to keep all staff employed, riding through the waves of shutdowns, health concerns (for employees) and the requirement for reopening. During this time Ann sent letters (emails) to staff to encourage and provide connectivity as people adjusted to isolation and fear.
Consecutively, Kaplan worked with her team to launch a Point-of-Sale Financing Platform (buy now pay later at check out). She worked with the team to pull in banking partners, KYC, bank statement review and other aspects that could be consecutively utilized to provide automated credit under-writing at check out.
In 2020, banks and insurance companies took notice, wanting to enter the Point-of-Sale-Lending space. In April of 2022, following a lengthy due diligence process, the Company was acquired. Ann Kaplan stayed on for a period to assist with the transition.
Kaplan continues to work in finance as an expert on national news (CNN, CNBC, Fox etc). she is co-chairing the G20Y Banking and Finance Committee for the third time this year and continues to sit on academic boards and committees.
- Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the nominee's past performance (up to 250 words):
Total 220 words used.
5. Taking a national finance company from start-up to recognize over $2B in loan applications is a challenge unto itself, during various economic challenges and including the downturn of 2008 and the financial impact of the pandemic.
Dr Ann Kaplan took a small-ticket consumer finance Company from start-up, raised capital through chartered banks and broke boundaries with the implementation of automation and machine learning at the point of sale (when a purchase is made). Kaplan recognized the shift to online purchases, mobilized a tech team to develop automation - an achievement few contenders globally have achieved.
Point-of-Sale Financing (obtaining financing at check-out) is a new concept. Only a few years ago, the need for written signatures (not e-signatures), pre-approved loan (not an instant loan provided during a purchase) and the ability to access bank statements remotely was only under development.
With the growth of machine learning and AI, Kaplan recognized an opportunity and shifted her company from manual credit processes (a credit officer reviewing a loan) to an automated process (eliminating the need for 'eyeballs' on a loan application. While other players in the industry saw POS financing as an underserved space, few understood small ticket consumer financing. The opportunity for Kaplan was ripe and the shift, although challenging, was natural; supported by chartered banks and underwriters throughout the process.
- Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
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