How Mike Cagney Built a Blockchain Based Business with Figure

Mike Cagney is one of the most successful fintech entrepreneurs with his founding of SoFi and now Figure; Cagney sat down with Lex Sokolin of ConsenSys and Will Beeson of Rebank to discuss Figure’s journey and lessons learned building and scaling multiple billion dollar companies; Lex Sokolin highlights his Ctop takeaways from the discussion; to build a blockchain business, build a business; for Figure, this meant focusing on the HELOC (home equity line of credit) asset class and creating the software and markets infrastructure around it; Cagney suggests a 90 basis points of savings between originations, financing, and securitization; Figure is targeting the payments business, and sees a partnership with retailers as the right strategy to deploy for growth; Cagney has been pleasantly impressed with his team’s productivity and purpose in the last few months, but this is a new road to travel for all of us. CoinDesk.