SAN FRANCISCO--(BUSINESS WIRE)--Figure Technologies, Inc. (Figure™), a leader in transforming financial services through the power of blockchain technology, today announced that financial services veteran Asiff Hirji has been named President and is already in place at the company’s headquarters.
Hirji most recently served as President and COO of Coinbase where he grew the company to over $1 billion in revenue; launched new businesses; built out the management team and achieved an $8 billion valuation. Prior to Coinbase, Hirji was an Operating Partner with Andreesen Horowitz focused on helping their best companies scale faster. He previously served as President and COO of TD Ameritrade, growing that business 6x into the nation’s largest online broker. Hirji has also held senior leadership roles with TPG Capital, Saxo Bank, HP, and Bain Capital and has served on a number of public and private boards including Citrix and Advent Software.
“Asiff has already been a critical advisor to me on how we manage the growth of Figure in order to drive the transformation of financial services across categories and around the world,” said Mike Cagney, CEO and Co-Founder of Figure. “His deep experience in the financial services industry and his long history of helping companies drive and manage growth are both going to be important to the growth of Figure and the creation of our new merchant bank.”
In just two years, Figure has become the fourth largest originator of HELOC loans in the United States and will continue to expand financial products it offers directly to consumers. Provenance is the blockchain technology platform that processes the loans generated by Figure. Provenance has been built to more efficiently and cost effectively process a wide variety of financial transactions. Hirji will also be building a new merchant bank division of the company that will serve institutional customers and facilitate the institutional financial services transactions on the Provenance blockchain platform.
“Blockchain will crash the costs of financial services, making products more affordable and available to all. Figure is one of the very few companies actually turning that promise into reality,” said Hirji. “The opportunity now is to scale to more financial products and open this capability to all financial institutions. I feel fortunate to be able to help make the promise of blockchain a reality.”
Figure Technologies is transforming the financial services for consumers through the power of blockchain technology. Figure can take loans from application to funding in days, not the weeks-long process offered traditionally. Their products eliminate time consuming physical property appraisals and inspections, requires zero paperwork and offers five star customer service. Currently Figure offers HELOC, Mortgage Refinancing and Student Loan Refinancing and plans to continuously expand its portfolio of products. Figure processes all of its loans through Provenance, the company’s proprietary blockchain platform that will soon also process loans for leading financial companies around the world. The company was founded by serial technology entrepreneur Mike Cagney, who also founded SoFi and built the company into a multi-billion dollar business under his leadership as CEO.