In December 2021, the company completed its acquisition of Wilmington-based Fair Square Financial, an online-focused credit card provider. By the end of 2021, its credit card balances had grown to $953 million, up 66% year-over-year, with 756,000 customers, up 67% year-over-year.
Fair Square offers Ollo credit cards for people working to build or rebuild their credit.
Ally expects to increase the size of its Wilmington-based team by more than 60% before the end of 2022. The new hires will both expand the company’s capabilities. Hiring areas include risk, marketing, operations, technology, and analytics. he new roles are open to talent in Delaware area residents with some remote opportunities available.
Ally currently has a staff of about 90 in Delaware.
The company sees growth opportunities ahead due to the unique opportunity to leverage the tech-enabled Fair Square card platform with Ally’s national brand and its advantaged access to lower-cost funding. The addition of Fair Square and its credit card offerings will enhance Ally’s suite of consumer products and aligns with its long-term strategy, a release stated.
The release also noted that Ally offers employees flexible work arrangements, a culture with a focus on diversity and inclusion, and a competitive benefits package that includes tuition repayment, parental leave (up to 20 weeks), and a 401k match of up to 10%.
Ally is the successor of GMAC, the finance unit of the U.S. automaker. Ally has been working to broaden its financial offerings as an online-based bank.