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- 10 Oct, 2017 | 15:30
No Losers In Navient’s Earnest Entrance Towards Education Loan Refinancing
- Writer Eric Turner
- Theme Fintech
- Segment Banking
- Tags Fintech
Loan management and servicing giant Navient Corp. ‘s contract to buy student-focused electronic lender Earnest Operations LLC for $155 million in cash marks the initial high-profile acquisition of a lending platform that is digital.
Oct. 10 2017 — Loan management and servicing giant Navient Corp. ‘s contract to shop for student-focused electronic lender Earnest Operations LLC for $155 million in cash markings the initial high-profile purchase of a electronic financing platform.
Due to the fact sector happens to be trying to find it self and electronic financing IPO task has remained stagnant, the offer represents a victory for many events involved. Navient should be able to offer consumer-facing loan options constructed on higher level analytics, while Earnest will leverage the total amount sheet of a bigger organization. Earnest’s investors will even win to varying degrees, owning a return that is small their initial assets.
This sort of deal will be the future for electronic financing as platforms aim to improve development after a hardcore 2016 and finance institutions are hungry when it comes to technology why these businesses created.
Certainly one of a few