Avant is building a bank from scratch as the OCC approves most charter applicants
Avant has filed for a national bank charter to establish Avant Bank, N.A., marking a significant move in their expansion strategy. The request was submitted to the OCC and FDIC on September 18, 2026, amid favorable conditions for charter applications, as recent approvals suggest a collaborative regulatory environment.
Co-founder and CEO Al Goldstein noted that Avant has already facilitated over $17.6 billion in credit, serving more than 4.8 million customers primarily through personal loans. This venture into banking will enable Avant to diversify its offerings and potentially enhance profitability by providing more integrated financial services.
Key takeaways
- ▸Avant submitted its application for a national bank charter on September 18, 2026.
- ▸The company has facilitated over $17.6 billion in credit and served 4.8 million customers.
- ▸The OCC is currently approving a significant number of charter applications, suggesting a favorable regulatory climate for new banks.
Why this matters
Avant's journey to becoming a full-fledged bank represents a broader trend of fintech companies moving towards banking models to gain control over customer relationships and enhance revenue streams. As traditional banks face growing competition, emerging players like Avant may disrupt the status quo by offering personalized services and greater accessibility to credit, potentially reshaping the landscape of consumer finance.