Medallion Bank Teams Up with Kashable for Financial Innovation
Medallion Bank’s New Financial Partnership
Medallion Bank, a respected institution known for its dedication to consumer loans for recreational vehicles, boats, and home improvements, has recently embarked on an exciting journey by partnering with Kashable. This collaboration is set to enhance the financial options available for working Americans by making affordable personal loans more accessible.
Expanding Financial Reach
The partnership with Kashable, a leading fintech firm that emphasizes socially responsible credit solutions and financial wellness, marks a significant step for Medallion Bank. According to Donald Poulton, President and CEO of Medallion Bank, this collaboration not only broadens their reach in consumer finance but also aligns with Kashable’s mission of enhancing customers’ financial health.
Purpose of the Partnership
Through this strategic alliance, Medallion Bank will facilitate the origination of personal loans directly on Kashable’s platform. This initiative is designed to link more employers, benefit administration platforms, and industry brokers with Kashable’s services, thereby reinforcing its position as a leader in the financial wellness sector.
Shared Goals for Financial Wellness
Einat Steklov, Co-Founder and Co-CEO of Kashable, expressed enthusiasm about the partnership, noting that Medallion Bank's solid financial backing is instrumental in extending their financial wellness initiatives into new communities. By utilizing their proprietary patented system, they aim to move beyond traditional credit scores, focusing on providing loans to long-term, stable employees.
About Medallion Bank
Medallion Bank has established itself as a premier institution offering consumer loans that cater specifically to recreational vehicle purchases, boat financing, and home improvement projects. In addition to these offerings, the bank also collaborates with numerous fintech partners to provide loan origination services. Their operational model supports thousands of dealers and contractors who rely on their services throughout the country.
Medallion Bank’s Commitment
Headquartered in Salt Lake City and chartered in Utah, Medallion Bank stands out as an FDIC-insured industrial bank, operating under Medallion Financial Corp. (NASDAQ: MFIN). They prioritize consumer satisfaction and strive to deliver innovative solutions through partnerships like the one with Kashable.
About Kashable
Kashable, founded in 2013, is a pioneering fintech firm dedicated to offering socially responsible credit and financial wellness solutions, especially designed for employees through employer-sponsored programs. By collaborating with hundreds of employers, they are committed to enhancing financial health by providing easy access to affordable loans.
Innovative Financial Solutions
Offering an efficient alternative for employees, Kashable seeks to help those who might otherwise resort to less favorable borrowing options such as high-interest credit cards or high-cost loans. Their focus is on creating pathways to financial security, ensuring that users can navigate short-term financial challenges effectively.
Contact Information
Medallion Bank Contact:
Investor Relations: 212-328-2176
Email: InvestorRelations@medallion.com
Kashable Contact:
Email: Kashable@mww.com
Frequently Asked Questions
What is the purpose of the Medallion Bank and Kashable partnership?
The partnership aims to enhance access to affordable personal loans and improve financial wellness for working Americans.
Who is Medallion Bank?
Medallion Bank is an FDIC-insured institution that specializes in consumer loans for recreational vehicles, boats, and home improvements.
What solutions does Kashable provide?
Kashable offers socially responsible credit and financial wellness solutions through employer-sponsored programs aimed at improving employees' financial well-being.
How will this partnership impact consumers?
The collaboration will provide wider access to personal loans and financial wellness tools, aiming to benefit working Americans across various industries.
Is Medallion Bank publicly traded?
Yes, Medallion Bank is a wholly-owned subsidiary of Medallion Financial Corp., which trades on NASDAQ under the ticker symbol MFIN.
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