LendingClub Deposits Reach $7.5B as Embedded Finance Beckons
LendingClub(LC) PYMNTS·2024-05-01 08:02
LendingClub noted in its latest results that deposits on its balance sheet grew as customers gravitated to high- yield savings products, credit quality was strong — and embedded finance solutions may offer a new avenue of future growth. As detailed in the most recent earnings materials, deposits of 7.3 billion in the prior quarter, primarily due to an increase in high-yield savings and certificates of deposits. Loan originations of $1.6 billion were comparable ...