Insight Card Services, an Alabama-based provider of financial solutions, has established a new company, Insight Credit Solutions headquartered in Sioux Falls, South Dakota.

Trent Sorbe has been named president of the new company. Mr Sorbe brings years of experience in developing credit products. He is joined by a team of long-time colleagues who combine an understanding of the overlooked consumer with broad experience in the prepaid and credit industries.

Bill Smith, CEO of Insight Card Services, said: “Over the last five years, Mr Sorbe and his team founded a new form of consumer credit, and they are the only group to build it to scale. In every material way, these credit products afforded customers better alternatives to what had been available in the marketplace. He and his team are committed to closing the consumer value gap and fulfilling the demand for sensibly-priced, small-dollar loans.

“We wanted to build around Trent and his team and secondly, Sioux Falls is well-known as a hub for consumer credit companies. The infrastructure and talent pool is geared to support our growth plans. We’ve already added subject matter experts in marketing, operations, legal and risk to our team, and all of those key positions were filled in South Dakota.”

Mr Sorbe said: “When you see customer satisfaction levels eight times that of the banking industry in general, you know that you’re on to something. Now, we are going to move the needle when it comes to cost, convenience and access.”