Member Exclusive, Payments
What Block’s $200 billion credit operation teaches banks about first-party data
- Block has extended over $200 billion in credit globally by underwriting customers with first-party data from Cash App and Square, bypassing the bureau feeds that leave 100 million Americans invisible to traditional lenders
- The same risk philosophy runs across all three products: maximize access, reduce cognitive burden on repayment, and reinvest efficiency gains back into expanding credit
Distilled from the Tearsheet Podcast. One conversation. One strategic insight. The essential read.
Zack Miller sits down with Juan Hernandez, head of credit and underwriting at Block. Listen to the full conversation on the Tearsheet Podcast.
Highlights
- Block has extended over $200 billion in credit globally across Cash App Borrow, Square Loans, and Afterpay.
- The engine is first-party data — Block underwrites from within its own ecosystems rather than relying on bureau feeds.
- Three products, one risk philosophy: maximize access while managing loss responsibly.
- When Block finds margin, it pushes it back into access — that’s the business model.
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