LendingClub Deposits Reach $7.5B as Embedded Finance Beckons
LCLendingClub(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 7.5billionrepresentedanincreaseoverthe7.5 billion represented an increase over the 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 ...