LendingClub Appoints Balaji Thiagarajan as Chief Technology Officer

Rhea-AI Summary

LendingClub Corporation (NYSE: LC) announced the appointment of Balaji Thiagarajan as Chief Technology Officer (CTO) on February 10, 2022. Thiagarajan brings over 25 years of experience from notable companies like Change Healthcare, Uber, and Google, and is expected to lead the company's product development and technology operations. CEO Scott Sanborn highlighted Thiagarajan's expertise in big data and machine learning as crucial for transforming LendingClub into a next-generation digital marketplace bank, enhancing customer experience and integrated financial services.

Positive

• Appointment of Balaji Thiagarajan as CTO could enhance innovation and technology development at LendingClub.
• Thiagarajan's extensive experience in big data and machine learning may lead to improved digital banking solutions.

Negative

• None.

SAN FRANCISCO, Feb. 10, 2022 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced Balaji Thiagarajan as the company's new Chief Technology Officer (CTO).

"Balaji joins us at a transformational point in our evolution," said Scott Sanborn, CEO of LendingClub. "His extensive experience in direct-to-consumer technology organizations that leverage big data, machine learning, mobile technologies, and cloud computing to deliver on both incredible business and customer outcomes is second to none. He is perfectly suited to lead the technology organization as we create the digital marketplace bank of the future." 

Thiagarajan has 25+ years of experience in leading product management, engineering, and technology operations, and driving innovations across big data, machine learning, mobile, and cloud computing. Prior to joining LendingClub, he was CTO and SVP, Product Development at Change Healthcare, a $3B publicly-traded healthcare technology company. He has also held senior technology roles at Uber, Oracle, Google, Yahoo, and Microsoft.  

"I'm excited to join a company that has its sights set on transforming fintech," said Thiagarajan. "LendingClub has been a fintech leader for 15 years and I'm looking forward to building on the company's massive capabilities to deliver a seamless, integrated, mobile-first experience that blends lending, spending, and savings to stay ahead of consumer expectations of next-generation digital banking."  

Thiagarajan joins LendingClub's Executive Team as Chief Technology Officer, reporting directly to Scott Sanborn to lead all product development efforts, including the company's financial application suite and business platforms, as well as Technology Operations, Product Management, and Enterprise Program Management organizations.  

About LendingClub 

LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. LendingClub Bank is the leading digital marketplace bank in the U.S., where members can access a broad range of financial products and services designed to help them pay less when borrowing and earn more when saving. Based on more than 150 billion cells of data and over $70 billion in loans, our artificial intelligence-driven credit decisioning and machine-learning models are used across the customer lifecycle to expand seamless access to credit for our members, while generating compelling risk-adjusted returns for our loan investors. Since 2007, more than 3.9 million members have joined the Club to help reach their financial goals. For more information about LendingClub, visit https://www.lendingclub.com. 

Media and Investor Contacts 
For Investors: IR@lendingclub.com 
Media Contact: Press@lendingclub.com 

Safe Harbor Statement 

Some of the statements above, including statements regarding delivering a mobile-first experience, future product/service offerings and staying ahead of consumer expectations, are "forward-looking statements." The words "forward," "deliver," "expect," "anticipate," "intend," "believe," "may," "will," "would" and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include demand for our product offerings and those factors set forth in the section titled "Risk Factors" in our most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K, each as filed with the Securities and Exchange Commission, as well as our subsequent filings made with the Securities and Exchange Commission. We may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. 

 

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SOURCE LendingClub Corporation

FAQ

Who is the new Chief Technology Officer of LendingClub?

Balaji Thiagarajan has been appointed as the new CTO of LendingClub.

What experience does Balaji Thiagarajan bring to LendingClub?

Thiagarajan has over 25 years of experience in leading technology roles at companies like Change Healthcare, Uber, and Google.

What are Balaji Thiagarajan's responsibilities as CTO?

He will lead all product development efforts, including the financial application suite, Technology Operations, and Product Management.

Why is Balaji Thiagarajan's appointment significant for LendingClub?

His expertise in big data and machine learning is expected to drive innovation and enhance customer experiences in digital banking.

When was Balaji Thiagarajan appointed as CTO of LendingClub?

He was appointed on February 10, 2022.