Tagged: mike cagney

July 22, 2021 @ 9:53 pm By Omar Faridi  |  

Provenance is a Cosmos-powered blockchain whose goal is to create a “vibrant” ecosystem of decentralized financial (DeFi) services for a variety of financial institutions such as asset originators, fund managers, servicers, banks, and investors. The Proof of Stake (PoS) blockchain is “distinguished by three elements:… Read More

May 20, 2021 @ 10:00 am By Omar Faridi  |  

Figure Technologies, Inc., which aims to transform financial services by leveraging the power of blockchain tech, has finalized a $200 million Series D round at a $3.2 billion valuation. 10T Holdings and Morgan Creek Digital have reportedly co-led the investment round. They’ve been joined by… Read More

May 17, 2021 @ 10:52 pm By Omar Faridi  |  

Figure Securities, a division of the digital lending service provider Figure Technologies, has reportedly acquired approval from the US Securities and Exchange Commission (SEC) to serve as a broker-dealer and also operate as an SEC-registered Alternative Trading System for digital securities that are custodied on… Read More

May 12, 2021 @ 12:23 pm By Samantha Hurst  |  

Figure Technologies, a lending platform that uses blockchain technology, announced on Wednesday its subsidiary, Figure Securities, Inc. has become a FINRA-approved broker-dealer and an SEC-registered Alternative Trading System (ATS) for digital securities custody on Provenance Blockchain. As previously reported, Figure is the creation of Mike… Read More

January 15, 2021 @ 1:32 pm By JD Alois  |  

Figure Technologies, Inc., founded by prominent Fintech entrepreneur Mike Cagney, has received $100 million from JPMorgan (NYSE:JPM) to finance jumbo mortgages, according to a release. Figure uses blockchain technology to reduce friction and cost to the loan origination process. Figure notes that this is the… Read More

December 22, 2020 @ 9:55 pm By JD Alois  |  

The Conference of State Bank Supervisors (CSBS) has filed a lawsuit against the Office of the Comptroller of the Currency (OCC), as well as Acting Comptroller Brian Brooks, regarding the agency’s ability to issue federal bank charters to Fintechs. The complaint mentions Figure Technologies, a… Read More

December 3, 2020 @ 10:27 pm By Omar Faridi  |  

The Office of the Comptroller of the Currency (OCC), an independent bureau within the US Treasury Department that serves to charter, regulate, and supervise all national banks and several other types of institutions, had introduced a specialized bank charter in 2018 that would not have… Read More

November 6, 2020 @ 3:09 pm By Samantha Hurst  |  

Figure Technologies, a lending platform that uses blockchain technology, announced on Friday it has applied for a U.S. national bank charter The fintech is now seeking the Office of Comptroller of the Currency’s approval to offer home equity loans and financing services across the U.S…. Read More

March 12, 2020 @ 8:16 am By JD Alois  |  

Calling it a turning point for the blockchain sector, Figure has completed the first asset-backed securitization using blockchain. The transaction reportedly saved over 100 basis points thus representing a dramatic cost reduction. In a world populated with thousands of blockchain-focused firms, Figure represents a prominent… Read More

March 10, 2020 @ 3:16 pm By JD Alois  |  

Figure Technologies, Inc., a blockchain-based lending platform, says the recent Fed rate cut has been good for business. In fact, Figure is reporting a whopping 300% increase in loan applications hurdling loans funded to over $1 billion. 30 year fixed interest rates on mortgages were… Read More

February 12, 2020 @ 2:58 pm By Omar Faridi  |  

Lending firm Figure Technologies is betting on an animated character, called “Blockchain,” which the firm is hoping will allow it to become more competitive against large financial institutions which currently control most of the businesses that the startup is planning to transform. As explained via… Read More

November 4, 2019 @ 12:24 pm By JD Alois  |  

Ron Suber is one of the better-known names in the Fintech sector. Originally, Suber’s role as the President of the marketplace lending platform Prosper Marketplace brought Suber’s name to prominence as the Fintech emerged as an early leader in the US online lending market. Since… Read More

October 27, 2019 @ 5:24 pm By JD Alois  |  

Figure Technologies, a lending platform that uses blockchain technology, is now offering student loan refinancing. Figure’s initial products included HELOC’s (home equity loans) and mortgage refinancing. Figure is the creation of Mike Cagney, founder of SoFi – a Fintech that started with the student lending… Read More

September 7, 2019 @ 9:47 am By JD Alois  |  

Caliber Home Loans, a privately-held financial services company and a leading mortgage provider, has become the first outside lender to utilize the blockchain-based platform Provenance. Provenance is the creation of Figure, a Fintech that provides Home Equity loans leveraging the Provenance blockchain as well. Figure/Provenance… Read More

August 19, 2019 @ 9:13 am By JD Alois  |  

SoFi is a Fintech that claims one of the largest Fintech funding rounds in the US of all time. Founded Mike Cagney, the entrepreneur departed the firm following revelations of a corporate culture that was lacking in professionalism. Cagney took a short break from the… Read More

July 15, 2019 @ 12:30 pm By JD Alois  |  

This past May, Figure Technologies, closed on $1 billion in asset-based financing custodied on the Provenance Blockchain, Inc. (PBI) – a ledger technology Figure built in house. Figure Technologies is SoFi founder Mike Cagney’s latest Fintech venture. Provenance is a protocol created to originate, finance,… Read More

May 1, 2018 @ 11:57 am By Erin Hobey  |  

Mike Cagney, the former SoFi CEO, raises $50M for Figure, his new fintech venture focused on home equity lending, reported Bloomberg. Cagney left Sofi late last year as the platform was upended with legal challenges regarding accusations of allowing a “sexually charged corporate culture that condones… Read More

March 21, 2018 @ 2:35 pm By JD Alois  |  

Mike Cagney, a Fintech icon who was founder and CEO of SoFi until he was ejected by the company’s board, has brought his newest startup out of stealth mode. Figure, a Blockchain based online lending platform, is now ready accepting emails for future updates. Figure… Read More

January 22, 2018 @ 11:26 am By JD Alois  |  

Anthony Noto, Chief Operating Officer at Twitter, is expected to move into the CEO spot at Fintech platform SoFi, according to multiple reports. Noto is responsible for Twitter’s  business operations and revenue generating organizations, including global advertising sales, global partnerships, business development, live content, data, revenue… Read More

January 2, 2018 @ 12:34 pm By Samantha Hurst  |  

Just a few months after he was dismissed from SoFi amid sexual harassment allegations, the founder and former CEO of the online lender, Mike Cagney, is now seeking $25 million for his new fintech startup. As previously reported, allegations in an NYT.com article criticized both SoFi operations… Read More