Tagged: mike cagney

Blockchain Firm Figure Receives $100 Million from JPM for Jumbo Mortgages

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

Conference of State Bank Supervisors Targets OCC Chartering Authority of Fintechs in Lawsuit, Points Finger at Figure Technologies

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

Fintech Firm Figure Technologies Is Pursuing National Bank Charter to Consolidate Oversight

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

Mike Cagney’s Figure Technologies Applies For U.S. National Bank Charter & Announces New CEO For Figure Bank

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

Fast Growing Figure Reports Completion of First Asset-Backed Securitization on Blockchain, Saves Over 100 BPS

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

Fintech Figure Says Business Booms Following Rate Cut, 300% Surge in Loans

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

Figure Technologies Introduces New “Blockchain” Character Who Explains Benefits of DLT in Order to Help Firm Compete with Financial Giants

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

Ron Suber Shares Perspective on Fintech: “Creating a successful digital bank is like golf and bridge – harder than it looks”

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

Mike Cagney’s Figure Technologies Now Offering Student Loans Using Blockchain Tech

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

Caliber Home Loans to Originate Mortgages on Figure’s Blockchain Platform Provenance

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

Lightening Strikes Twice? Mike Cagney’s Blockchain Focused Fintech Venture Figure Reported to Raise Funding at $1 Billion Valuation

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

Mike Cagney’s Figure Technologies Completes $20 Million STO on Provenance Blockchain with Help of Dechert

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

Go Figure: Mike Cagney Raises $50M Easily, Despite Quitting SoFi Amid Sexual Harassment Allegations

Courtesy ptmoney.com

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

Mike Cagney’s New Blockchain based Online Lending Venture Figure is out of Stealth Mode

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

Twitter COO Anthony Noto Expected to Move into SoFi CEO Role

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

SoFi’s Former CEO Mike Cagney Seeks $25 Million For His New Fintech Startup

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

A Day Late & a Dollar Short? SoFi Reportedly Spoke with Schwab, Others About Acquisition

SoFi (or Social Finance) held talks with Charles Schwab about a potential acquisition earlier this year. The high-profile Fintech firm apparently discussed an $8 billion valuation following an “indicative offer of $6 billion” from a foreign bank. This is according to a report in the… Read More

SoFi’s CTO, Mike Cagney’s Wife, to Depart Fintech Firm

June Ou, SoFi’s CTO and VP of Engineering, will depart the online lender. The move is not completely unexpected as Ou is also the wife of ousted founder Mike Cagney who ignominiously left the firm under a cloud opprobrium. Reuters first reported the news last… Read More

Mike Cagney Resigns as SoFi CEO Effective Immediately

SoFi CEO Mike Cagney has resigned as CEO, effective immediately. Recently, Cagney had announced he had resigned as Board Chair and would vacate the position of CEO at the end of the year. Allegations in an NYT.com article hammered both SoFi operations and Cagney’s behavior… Read More

NYT Reports Details on SoFi CEO Cagney’s Impending Departure from Fintech Firm

Additional details have been reported surrounding the planned departure of one of the most prominent Fintech CEOs in the world. NYT.com has published a report on the “Frat House” like environment that existed at SoFi with CEO Mike Cagney reportedly being a prime offender. The… Read More

Send this to a friend