Today In Digital-First Banking: LoanDepot Seeks More Than $300 Million In IPO; Jack Henry To Provide Consumer Loan Tech Platform

In today’s top digital-first banking news, LoanDepot will be seeking up to $315 million in its initial public offering (IPO), while Jack Henry & Associates is branching out with a new line of business named Jack Henry Consumer Loans. Plus, financial services firm Stilt has raised a $100 million warehouse facility from Silicon Valley Bank.

Mortgage Lender LoanDepot Seeking Over $300 Million In IPO

LoanDepot will be looking for as much as $315 million in its IPO per a U.S. Securities and Exchange Commission (SEC) filing. Founder and CEO Anthony Hsieh said in a letter with the filing that the company has been “committed to providing honest products with great value, and committed to delivering them in an innovative, delightful way.”

Jack Henry To Offer Tech Platform For Consumer Loans

Jack Henry & Associates is branching out with a new line of business called Jack Henry Consumer Loans. Jack Henry said in a release that it seeks to bring the success of its commercial loan platform to the consumer sphere. The firm has 8,700 customers throughout the country and works with credit unions, banks and other companies.

Stilt Raises $100 Million To Fuel Immigrant Loans

Stilt has raised a $100 million warehouse facility from Silicon Valley Bank. The firm, which works in financial services for immigrants, has raised $225 million in total debt facilities for lending to clients to date. Also, Stilt is launching a new checking accounting offering, which will add to the increasing count of new checking accounts with the firm.

BIS: 20 Pct Of Population Will Access CBDCs By 2024

Central bank digital currencies (CBDCs) will be available for 20 percent of the globe’s population in the three years to come, according to a study from the Bank for International Settlements (BIS). The study determined that central banks that together represent a fifth of the worldwide population will likely provide a general-purpose CBDC by 2024.