LendingClub & Pagaya Acquire Assets of Tally Technologies
LendingClub (NYSE: LC) and Pagaya Technologies (NASDAQ: PGY) have jointly acquired the intellectual property of Tally Technologies, Inc. Tally's technology simplifies credit card management, helping users optimize payments, reduce interest, and improve credit health. LendingClub will use this acquisition to enhance its member engagement platform, benefiting its 5 million members. Pagaya will incorporate Tally's B2B credit management solution into its product suite for over 30 lending partners.
LendingClub CEO Scott Sanborn emphasized the importance of this acquisition in helping members manage debt more effectively, especially with credit card debt and interest rates at historic highs. Pagaya's President Sanjiv Das highlighted how integrating Tally into their B2B offerings will enhance value for their partners. Tally ceased operations in August 2024, and its assets were acquired through a process facilitated by Sherwood Partners, Inc.
LendingClub (NYSE: LC) e Pagaya Technologies (NASDAQ: PGY) hanno acquisito congiuntamente la proprietà intellettuale di Tally Technologies, Inc. La tecnologia di Tally semplifica la gestione delle carte di credito, aiutando gli utenti a ottimizzare i pagamenti, ridurre gli interessi e migliorare la salute creditizia. LendingClub utilizzerà questa acquisizione per migliorare la sua piattaforma di coinvolgimento dei membri, a beneficio dei suoi 5 milioni di membri. Pagaya integrerà la soluzione di gestione del credito B2B di Tally nella sua suite di prodotti per oltre 30 partner di prestito.
Il CEO di LendingClub, Scott Sanborn, ha sottolineato l'importanza di questa acquisizione nell'aiutare i membri a gestire il debito in modo più efficace, specialmente con i debiti delle carte di credito e i tassi d'interesse ai massimi storici. Il presidente di Pagaya, Sanjiv Das, ha evidenziato come l'integrazione di Tally nelle loro offerte B2B aumenterà il valore per i loro partner. Tally ha cessato le operazioni nell'agosto 2024 e i suoi beni sono stati acquisiti attraverso un processo facilitato da Sherwood Partners, Inc.
LendingClub (NYSE: LC) y Pagaya Technologies (NASDAQ: PGY) han adquirido conjuntamente la propiedad intelectual de Tally Technologies, Inc. La tecnología de Tally simplifica la gestión de tarjetas de crédito, ayudando a los usuarios a optimizar pagos, reducir intereses y mejorar la salud crediticia. LendingClub utilizará esta adquisición para mejorar su plataforma de compromiso con los miembros, beneficiando a sus 5 millones de miembros. Pagaya integrará la solución de gestión de crédito B2B de Tally en su suite de productos para más de 30 socios de préstamos.
El CEO de LendingClub, Scott Sanborn, enfatizó la importancia de esta adquisición para ayudar a los miembros a gestionar mejor la deuda, especialmente con la deuda de tarjetas de crédito y los tipos de interés en niveles históricos. El presidente de Pagaya, Sanjiv Das, destacó cómo la integración de Tally en sus ofertas B2B aumentará el valor para sus socios. Tally cesó operaciones en agosto de 2024, y sus activos fueron adquiridos a través de un proceso facilitado por Sherwood Partners, Inc.
LendingClub (NYSE: LC)와 Pagaya Technologies (NASDAQ: PGY)는 Tally Technologies, Inc.의 지적 재산권을 공동으로 인수했습니다. Tally의 기술은 신용 카드 관리를 간소화하여 사용자들이 지불을 최적화하고, 이자를 줄이며, 신용 건강을 개선하는 데 도움을 줍니다. LendingClub는 이 인수를 통해 회원 참여 플랫폼을 개선하여 500만 명의 회원에게 혜택을 줄 것입니다. Pagaya는 Tally의 B2B 신용 관리 솔루션을 30개 이상의 대출 파트너를 위한 제품군에 통합할 것입니다.
LendingClub의 CEO인 Scott Sanborn은 이 인수가 신용 카드 부채와 역사적 최고치의 이자율로 회원들이 부채를 보다 효과적으로 관리하는 데 중요한 역할을 한다고 강조했습니다. Pagaya의 사장인 Sanjiv Das는 Tally를 B2B 제공에 통합하는 것이 파트너를 위해 가치를 높일 것이라고 강조했습니다. Tally는 2024년 8월에 운영을 중단했으며, 그 자산은 Sherwood Partners, Inc.의 주도로 인수되었습니다.
LendingClub (NYSE: LC) et Pagaya Technologies (NASDAQ: PGY) ont acquis conjointement la propriété intellectuelle de Tally Technologies, Inc. La technologie de Tally simplifie la gestion des cartes de crédit, aidant les utilisateurs à optimiser les paiements, réduire les intérêts et améliorer leur santé financière. LendingClub utilisera cette acquisition pour améliorer sa plateforme d'engagement des membres, au bénéfice de ses 5 millions de membres. Pagaya intégrera la solution de gestion de crédit B2B de Tally dans sa suite de produits pour plus de 30 partenaires de prêt.
Le PDG de LendingClub, Scott Sanborn, a souligné l'importance de cette acquisition pour aider les membres à gérer leur dette plus efficacement, notamment avec les dettes de cartes de crédit et les taux d'intérêt historiques. Sanjiv Das, président de Pagaya, a mis en avant comment l'intégration de Tally dans leurs offres B2B augmentera la valeur pour leurs partenaires. Tally a cessé ses opérations en août 2024, et ses actifs ont été acquis par le biais d'un processus facilité par Sherwood Partners, Inc.
LendingClub (NYSE: LC) und Pagaya Technologies (NASDAQ: PGY) haben gemeinsam das geistige Eigentum von Tally Technologies, Inc. erworben. Die Technologie von Tally vereinfacht das Management von Kreditkarten und hilft den Nutzern, Zahlungen zu optimieren, Zinsen zu senken und die Kreditwürdigkeit zu verbessern. LendingClub wird diese Übernahme nutzen, um seine Mitgliederengagement-Plattform zu verbessern, die 5 Millionen Mitgliedern zugutekommt. Pagaya wird die B2B-Kreditmanagementlösung von Tally in ihr Produktportfolio für über 30 Kreditpartner integrieren.
Der CEO von LendingClub, Scott Sanborn, betonte die Bedeutung dieser Acquisition, um den Mitgliedern zu helfen, Schulden effektiver zu verwalten, insbesondere angesichts der historischen Höchststände bei Kreditkarten Schulden und Zinssätzen. Sanjiv Das, Präsident von Pagaya, hob hervor, wie die Integration von Tally in ihre B2B-Angebote den Wert für ihre Partner steigern wird. Tally stellte im August 2024 den Betrieb ein, und die Vermögenswerte wurden durch einen Prozess erworben, der von Sherwood Partners, Inc. unterstützt wurde.
- LendingClub acquires technology to enhance debt management solutions for its 5 million members
- Pagaya expands B2B product suite with Tally's credit management solution for 30+ lending partners
- Acquisition accelerates LendingClub's member engagement platform development
- Tally's technology helps optimize credit card payments and reduce interest costs
- Tally Technologies ceased operations in August 2024
Insights
The acquisition of Tally Technologies' assets by LendingClub and Pagaya is a strategic move with potential long-term benefits for both companies. For LendingClub, this acquisition enhances its member engagement platform, potentially driving future growth by offering improved credit card management solutions to its 5 million members. This is particularly timely given the current high credit card debt and interest rates.
For Pagaya, incorporating Tally's B2B credit management solution into its product suite could strengthen its offering to its 30+ lending partners. This move aligns with Pagaya's strategy to be a leading consumer lending technology solution provider.
However, the immediate financial impact may be The article doesn't disclose the acquisition cost or projected revenue contributions. Investors should monitor future earnings reports for signs of increased member engagement at LendingClub and expanded partnerships for Pagaya as indicators of the acquisition's success.
The acquisition of Tally's intellectual property represents a significant technological enhancement for both LendingClub and Pagaya. Tally's innovative credit card management platform uses advanced algorithms to optimize payments and reduce interest costs, which aligns well with LendingClub's existing proprietary technology.
For Pagaya, integrating Tally's white-label B2B platform into its AI-powered network could create a more comprehensive offering for its lending partners. This move potentially strengthens Pagaya's position in the competitive fintech landscape.
The challenge lies in successfully integrating Tally's technology into existing systems and leveraging it to create tangible value for customers and partners. The effectiveness of this integration and the resulting product enhancements will be important in determining the long-term impact of this acquisition on both companies' competitive positions in the fintech market.
LendingClub to leverage Tally’s credit management solutions to benefit the bank’s 5 million members
Pagaya adds Tally’s B2B credit management solution to its product suite offering for its over 30 lending partners
Tally’s innovative technology simplifies credit card management, helping users optimize payments, reduce interest, and improve credit health. Tally’s consumer solution allows users to link credit cards, automate card payments, and adopt strategies to lower interest costs and avoid late fees. The company also created an embedded, white-label business-to-business credit card debt management platform leveraging the same functionality.
LendingClub uses proprietary technology and data to provide consumers with compelling solutions to reduce the cost of their debt and pay it off more quickly. This transaction will accelerate the evolution of LendingClub’s member engagement platform to drive future growth.
“LendingClub is committed to building innovative tools and solutions that help our members better manage their debt and keep more of what they earn,” said LendingClub CEO, Scott Sanborn. “Tally’s credit card management platform – along with a few select former Tally employees who have joined our team – will bolster those efforts and accelerate our strategy to empower and engage our members with full visibility into their credit card debt. With credit card debt and interest rates at historic highs, the need for better tools and solutions has never been greater, and so we’re excited to accelerate our innovation in this area.”
Pagaya’s AI-powered network of 31 lending partners and 120 institutional investors aims to be the preeminent consumer lending technology solution for the financial ecosystem. Pagaya will focus on enhancing its white-label B2B solutions, incorporating the Tally product as a value-added offering for its network of lending partners. This strategic move allows Pagaya to deliver advanced credit management solutions that lending partners can offer to their customers under their own brands.
"Integrating and embedding Tally into our B2B offerings significantly enhances the value we provide to our partners through our suite of cutting-edge products,” said Sanjiv Das, President of Pagaya. “We are committed to leveraging Tally’s technology to create tailored solutions that meet the diverse needs of our lending partners and their customers.”
Tally ceased operations in August 2024, after which its assets became available for purchase pursuant to a process facilitated by an affiliate of Sherwood Partners, Inc. With LendingClub and Pagaya leveraging Tally’s intellectual property, Tally’s innovations can continue to benefit consumers for years to come.
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
About Pagaya Technologies
Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and an AI-driven approach, Pagaya provides consumer credit and other products for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. For more information, visit pagaya.com.
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LendingClub:
For Investors: IR@lendingclub.com
Media Contact: Press@lendingclub.com
Pagaya:
For Investors and Analysts: ir@pagaya.com
Media Contact: press@pagaya.com
Source: Pagaya Technologies LTD and LendingClub Corporation
FAQ
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