Pagaya Technologies Ltd. (PGY)
After hours:
- Yahoo Finance Video
Consumer spending, Reddit earnings, AI: Wealth!
On today's episode of Wealth!, host Bradley Smith and various guests explore topics including the state of the consumer, earnings updates, and artificial intelligence's potential to help consumers looking to borrow. As consumers face the impact of the "higher-for-longer" interest rate environment, Wealth! takes a deep dive into the state of the consumer. Barry's CEO Joey Gonzalez joins the discussion, offering insights into how his fitness business is navigating this challenging landscape and whether he has observed any shifts in consumer behavior. Despite the need for value, consumers continue spending on experiences and travel. Hopper Lead Economist Hayley Berg and Zenith Wealth Partners Chief Financial Planning Officer Chelsea Ransom-Cooper provide savings tips for those seeking to travel while exercising prudence with their hard-earned cash. On the earnings front, Reddit (RDDT) CEO Steve Huffman takes the spotlight, discussing the company's earnings beat and its ongoing quest for profitability. Additionally, Yahoo Finance's Madison Mills dissects the financial results of Airbnb (ABNB) and Hyatt Hotels (H), which both surpassed expectations. Furthermore, the show features an interview with Pagaya CEO Gal Krubiner, who talks the potential of artificial intelligence to aid in consumer lending. This post was written by Angel Smith
- Yahoo Finance Video
How Pagaya uses AI to help loan borrowers get approved: CEO
A survey from Bankrate shows that 50% of loan applications are denied. Pagaya Technologies (PGY) aims to use AI tools to help boost the amount of approved loan applications for borrowers. Pagaya CEO Gal Krubiner joins Wealth! to discuss how his company can help consumers gain access to credit they otherwise wouldn't be able to access through the use of AI. Krubiner outlines exactly how his company is able to help consumers: "We are connecting to the banks that otherwise would have denied these borrowers, and we're helping them use AI to identify the borrowers that should actually get a credit. And by that, reducing the 42 or the 50% lower to be able to help them help their customers." He adds: "The interesting side is that the money we're using is not the bank's balance sheet. We're actually created on the other side of our network, a very strong, stable funding capabilities that is based on the biggest asset managers and pension funds and insurance companies in the world. To be able to fund all these additional loans that are actually a very good performing loans of the people that otherwise the regulatory environment in the banking system will actually deny them." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Nicholas Jacobino
- Business Wire
Pagaya Reports First Quarter 2024 Results
NEW YORK & TEL AVIV, Israel, May 09, 2024--Pagaya Technologies Ltd. (NASDAQ: PGY) ("Pagaya", the "Company" or "we"), a global technology company delivering artificial intelligence infrastructure for the financial ecosystem, today announced financial results for the quarter ending March 31, 2024.
