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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 acquire student-focused electronic lender Earnest Operations LLC for $155 million in cash markings the very first high-profile acquisition of a lending platform that is digital.
Oct. 10 2017 — Loan management and servicing giant Navient Corp. ‘s agreement 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.
Given that sector is trying to find it self and electronic financing IPO task has remained stagnant, the offer represents a victory for many events included. Navient should be able to offer loan that is consumer-facing constructed on higher level analytics, while Earnest will leverage the total amount sheet of the much bigger institution.