Affirm CFO Explains Bank Charter Pursuit as Funding Diversification Strategy
Affirm's Chief Financial Officer Rob O'Hare stated that pursuing a bank charter is primarily aimed at diversifying the company’s funding sources and bringing infrastructure in-house, rather than transforming Affirm into a traditional bank. The proposed subsidiary would allow Affirm to collect deposits, potentially lowering its funding costs.
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Topics: Affirm bank charter CFO statement funding diversification