- Pathward, N.A., a subsidiary of Pathward Financial ( NASDAQ: CASH ), has selected Propel Holdings ( TSX: PRL:CA ) as its primary consumer lending as a service (LaaS) fintech partner under a five-year agreement.
- The agreement contemplates fee income for Propel ( PRL:CA ) by providing white labelled technology and service solutions for Pathward's ( CASH ) consumer lending capabilities, including customer acquisition services, loan management software, licensing of proprietary artificial intelligence-powered, risk and response scores, and credit servicing capabilities.
- Propel ( PRL:CA ) expects the program to launch by Q1 2023 and be accretive to revenue and net income in 2023, with financial impact growing into 2024.
For further details see:
Pathward selects Propel as consumer lending as a service partner