Provenance Blockchain

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 Launch comes on the back of over $1 billion in Q3 originations
 SAN FRANCISCO–(BUSINESS WIRE)–Figure Lending LLC (“Figure Lending”) and Figure Technologies, Inc. (“Figure”), a leader in transforming financial services through the power of blockchain technology, today announced it has expanded its Partnership business to include an increased offering under the Lending-as-a-Service (“LaaS”) platform, in addition to the previously launched Wholesale platform.
 <a href="https://mms.businesswire.com/media/20231101798412/en/1932131/5/Figure.jpg" rel="noopener noreferrer nofollow"><img decoding="async" src="https://thenewscrypto.com/wp-content/uploads/2023/11/Figure.jpg"></a> <a href="https://mms.businesswire.com/media/20231101798412/en/1932131/5/Figure.jpg" rel="noopener noreferrer nofollow"><img decoding="async" src="https://thenewscrypto.com/wp-content/uploads/2023/11/Figure-1.jpg"></a>
 The expansion of Figure’s LaaS platform represents the next evolution of Figure’s Partnership business, which has almost tripled since Q3 2022, and follows the recently launched Figure wholesale platform, which allows mid-sized lenders to access Figure’s HELOC offering via a traditional wholesale model. Figure’s LaaS solution provides lenders with the ability to leverage Figure’s proven HELOC system and product offering, including Figure’s income verification and lien matching algorithms, and to originate HELOCs based on a lender’s desired loan terms, pricing parameters and fulfillment requirements. By integrating this new software-based solution, lenders can originate HELOC loans for themselves with the speed and ease of Figure’s flagship HELOC product while managing their funding requirements, risk profile, and resourcing needs.
 “We are thrilled to give even more lenders access to our cutting edge lending technology via the expansion of the LaaS model, and to have seen over $1 billion in HELOCs originated across all channels of the Figure platform during the third quarter, particularly amidst the volatility and uncertainty across today’s markets,” said Jackie Frommer, Head of Lending at Figure. “This is a testament to our unique platform, strength of our product, and talented team, as well as the trust we’ve been able to garner with our customers. We are excited to continue to build on this momentum and deliver differentiated lending solutions to the market to meet the needs of today’s digital consumer.”
 In conjunction with the expansion of its LaaS platform, Figure is pleased to announce that Guaranteed Rate, one of the largest mortgage originators in the country, is the first customer taking advantage of this new offering. “Through Figure’s LaaS model, we are able to create a HELOC offering specifically targeted to the needs of our customers and loan buyers,” said Victor Ciardelli, President and CEO of Guaranteed Rate.
 “This LaaS platform is our first step towards building a robust private capital market on the blockchain, as we are also working with several top banks with the goal of creating a consistent and predictable takeout market for assets that are originated on Figure’s platforms,” said Mike Cagney, co-founder and CEO of Figure. “We look forward to continuing to roll out these unique solutions to our customers.”
 About Figure Technologies
 Figure is transforming financial services with the proven power of blockchain technology, generating real economic value for consumers and institutions. We do this by incubating ambitious businesses across lending, payments and markets, utilizing blockchain to build solutions that displace legacy trust with equitable truth and support riskless transactions. Figure is one of the largest contributors of real-world assets to blockchain, leveraging the Provenance Blockchain for loan origination, servicing, financing, as well as private company stock management, fund registry, blockchain marketplaces and payments. The company was founded in 2018 by serial technology entrepreneur Mike Cagney, founder of SoFi who built that company into a multi-billion-dollar business under his leadership as CEO. To learn more, please visit <a target="_blank" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.figure.com&amp;esheet=53731243&amp;newsitemid=20231101798412&amp;lan=en-US&amp;anchor=www.figure.com&amp;index=1&amp;md5=1c97d4da593c662f41a9f6796f88c77a" rel="noopener noreferrer nofollow" shape="rect">www.figure.com</a>.
 Contacts
 <a target="_blank" href="mailto:press@figure.com" rel="noopener noreferrer nofollow" shape="rect">press@figure.com</a>
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Figure Announces Its Newest Lending-as-a-Service Offering

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