Technology
LendingClub Reports First Quarter 2026 Results
Published
6 months agoon
By
Strong Performance Across Key Metrics
Delivered Record $67.3 Million Pre-Tax Income, 13.7% ROE, and 14.5% ROTCE
Increased Originations +31% and Delivered Diluted EPS of $0.44, +340%
Rebranding to Happen Bank in Summer 2026
SAN FRANCISCO, April 27, 2026 /PRNewswire/ — LendingClub Corporation (NYSE: LC) today announced financial results for the first quarter ended March 31, 2026.
“We’re starting 2026 with exceptional momentum, delivering 31% year-over-year growth in originations while achieving record pre-tax earnings of $67 million and ROTCE of 14.5%,” said Scott Sanborn, LendingClub CEO. “At the same time, we advanced key strategic priorities, including the upcoming rebrand to Happen Bank, expanding into the $500 billion home improvement loan category, and maintaining our credit outperformance. Our focused, proven strategy is successfully attracting and retaining high-quality members as we continue generating consistent, durable returns.”
First Quarter 2026 Results
Highlights:
Announced new brand, Happen Bank, launching summer 2026, reflecting both our expanded banking capabilities and our core mission: to clear the way for people going places.Began underwriting and originating home improvement loans in April, leveraging distinct advantages over incumbents and opening meaningful opportunity for growth.Achieved $2.7 billion in origination volume, up 31% compared to the prior year, driven in part by the successful execution of product and marketing initiatives.Diluted EPS of $0.44, more than quadrupled compared to the prior year.Continued credit outperformance vs. competitor set, with over 40% lower delinquencies.AI-powered automation and agent support tools led to record personal loans operations production efficiency in the first quarter and a record-high >90% automation rate for issued loans.Executed $26 million of the $100 million Stock Repurchase and Acquisition Program, with cumulative utilization through March totaling $38 million.
Balance Sheet:
Total assets of $11.9 billion, up 14% year-over-year, primarily due to growth in loans and securities.Deposits of $10.2 billion, up 14% year-over-year, with 88% of deposits FDIC-insured.Robust available liquidity of $3.7 billion.Strong capital position with a consolidated Tier 1 leverage ratio of 11.9% and a CET1 capital ratio of 17.0%.
Financial Performance:
Loan originations grew 31% to $2.7 billion, compared to $2.0 billion in the prior year, driven by the successful execution of product and marketing initiatives.Total net revenue increased 16% to $252.3 million, compared to $217.7 million in the prior year, driven by higher loan sales and loan sale pricing and higher net interest margin on a larger balance sheet.Net interest margin expanded to 6.28%, compared to 5.97% in the prior year, driven primarily by improved deposit funding costs. Provision for credit losses of $0.4 million, compared to $58.1 million in the prior year, due to strong credit performance and the 2026 election of fair value option (FVO) accounting for all new originations.Net charge-offs on total loans and leases held for investment improved to $42.5 million, compared to $76.1 million in the same quarter in the prior year, supported by strong credit performance.Net income and Diluted EPS more than quadrupled to $51.6 million and $0.44, respectively, compared to $11.7 million and $0.10 in the prior year, respectively.Profit margin (pre-tax) of 26.7%, compared to 7.2% in the prior year.Return on Equity (ROE) of 13.7% with a Return on Tangible Common Equity (ROTCE) of 14.5%.
Summary Financial Highlights:
Three Months Ended
($ in millions, except per share amounts)
March 31,
2026
December 31,
2025
March 31,
2025
Total net revenue
$ 252.3
$ 266.5
$ 217.7
Provision for credit losses
0.4
47.2
58.1
Non-interest expense
184.5
169.3
143.9
Income before income tax expense
67.3
50.0
15.7
Income tax expense
(15.7)
(8.5)
(4.0)
Net income
$ 51.6
$ 41.6
$ 11.7
Diluted EPS
$ 0.44
$ 0.35
$ 0.10
For a calculation of Tangible Book Value Per Common Share and Return on Tangible Common Equity, refer to the “Reconciliation of GAAP to Non-GAAP Financial Measures” tables at the end of this release.
2026 Strategic Priorities & Investments
LendingClub has made important progress on several strategic initiatives:
Corporate Rebrand: Rebranding to Happen BankTM, a bank that clears the way for people going places, providing fast and easy access to award-winning products that help them save more of what they earn and earn more on what they save. The new brand reflects LendingClub’s transition from a pioneering online lender to a diversified digital-first bank that combines deposits, lending, and a capital-light marketplace bank model. The company will transition to the new brand this summer. Rebrand-related costs are included in the 2026 financial guidance.
Home Improvement Financing: Having previously acquired foundational technology and key talent, LendingClub is now underwriting and originating home improvement loans through its initial partnership with the Wisetack platform. Inbound interest from additional potential partners has been significant. Home improvement financing is a $500 billion market where LendingClub has distinct advantages over incumbents and a meaningful opportunity for growth.
AI and Operating Efficiency: The company has over 60 active AI initiatives underway across marketing, product, engineering, operations, customer experience, and compliance, with the goal of improving efficiency and supporting margin expansion over time. AI-powered automation and agent support tools have already led to record personal loans operations production efficiency and a record-high >90% automation rate for issued loans in the first quarter.
New Marketing Channel Investment: LendingClub accelerated investments in new acquisition channels, including paid social and display, ahead of normal seasonal timing in order to build attribution models and data capabilities for the full-year 2026 growth plan. Successful execution of marketing and product initiatives contributed to a 31% year-over-year increase in originations growth in the first quarter.
Transition to Fair Value Option Accounting: Starting first quarter of 2026, LendingClub has adopted FVO accounting for all new originations of loans held for investment. This change aligns the accounting treatment for loans held for investment and held for sale, creating a consistent framework across the business and removing the front-loaded CECL reserve impact that corresponds to balance sheet growth. The company expects this transition will, over time, result in higher return on invested capital.
From a financial reporting perspective, under FVO, new loans are marked to fair value at origination, with subsequent changes in fair value, reflecting both credit performance and market conditions, flowing through non-interest income each quarter rather than through a separate provision for credit losses. The company will no longer record a CECL provision on new loan originations.
Financial Outlook
Second Quarter 2026
Loan originations
$3.0B to $3.1B
Diluted EPS
$0.40 to $0.45
Full Year 2026
Loan originations
$11.6B to $12.6B
Diluted EPS
$1.65 to $1.80
About LendingClub
LendingClub Bank (soon to be Happen BankTM) is a digital bank built for the Motivated Middle: high-FICO, high-income, digitally savvy consumers actively managing their financial lives. Our difference? We make it easy for them to access award-winning products that help them keep more of what they earn and earn more on what they save. Our products are aligned by design to reward our five million plus members when they take positive financial steps, like saving regularly or making loan payments on time.
Our success is fueled by our advanced credit underwriting, a proprietary technology platform engineered for innovation, and a marketplace bank model that drives value for members, loan investors, and shareholders alike. The result is affordable credit, meaningful value, and a trusted banking relationship delivered consistently and profitably at scale.
As we look to our next chapter, we’re choosing a name that reflects why we exist: to clear the way for our members to make it happen. Learn more at https://www.meethappen.com.
LendingClub Corporation (NYSE: LC) is the parent company and operator of LendingClub Bank, National Association, Member FDIC. For more information about LendingClub, visit https://www.lendingclub.com.
Conference Call and Webcast Information
The LendingClub first quarter 2026 webcast and teleconference is scheduled to begin at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Monday, April 27, 2026. A live webcast of the call will be available at http://ir.lendingclub.com under the Filings & Financials menu in Quarterly Results. To listen to the call, register using this link: https://events.q4inc.com/attendee/442019885 ten minutes prior to 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time). An audio archive of the call will be available at http://ir.lendingclub.com. LendingClub has used, and intends to use, its investor relations website, X (formerly Twitter) handles (@LendingClub and @LendingClubIR) and Facebook page (https://www.facebook.com/LendingClubTeam) as a means of disclosing material non-public information and to comply with its disclosure obligations under Regulation FD.
Question Submissions
Prior to quarterly earnings, investors have the ability to submit and upvote questions for LendingClub’s management team to consider. To participate, visit the link provided in each quarter’s earnings date announcement.
Contacts
For Investors:
IR@lendingclub.com
Media Contact:
Press@lendingclub.com
Non-GAAP Financial Measures
To supplement our financial statements, which are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measures: Tangible Book Value (TBV) Per Common Share and Return on Tangible Common Equity (ROTCE). Our non-GAAP financial measures do have limitations as analytical tools and you should not consider them in isolation or as a substitute for an analysis of our results under GAAP.
We believe these non-GAAP financial measures provide management and investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and enable comparison of our financial results with other public companies.
We believe TBV Per Common Share is an important measure used to evaluate the company’s use of equity. TBV Per Common Share is a non-GAAP financial measure representing tangible common equity for the period (common equity reduced by goodwill and customer relationship intangible assets), divided by the ending number of common shares issued and outstanding.
We believe ROTCE is an important measure because it reflects the company’s ability to generate income from its core assets. ROTCE is a non-GAAP financial measure calculated by dividing annualized net income by the average tangible common equity for the applicable period.
For a reconciliation of such measures to the nearest GAAP measures, please refer to the tables on page 11 of this release.
Safe Harbor Statement
Some of the statements above, including statements regarding our entry into home improvement financing, our rebranding initiative, and anticipated future performance and financial results, are “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: our loan performance, our ability to continue to attract and retain new and existing borrowers and marketplace investors (including retaining long-term investors through the duration of their expected partnership and achieving the anticipated level of purchases); competition; overall economic conditions; our ability to integrate acquired technology; the interest rate and/or regulatory environment; default rates and those factors set forth in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, as well as in our subsequent filings with the Securities and Exchange Commission. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
LENDINGCLUB CORPORATION
OPERATING HIGHLIGHTS
(In thousands, except percentages or as noted)
(Unaudited)
As of and for the three months ended
% Change
March 31,
2026
December 31,
2025
September 30,
2025
June 30,
2025
March 31,
2025
Q/Q
Y/Y
Operating Highlights:
Net interest income
$ 176,234
$ 163,027
$ 158,439
$ 154,249
$ 149,957
8 %
18 %
Non-interest income
76,017
103,444
107,792
94,186
67,754
(27) %
12 %
Total net revenue
252,251
266,471
266,231
248,435
217,711
(5) %
16 %
Provision for credit losses
390
47,158
46,280
39,733
58,149
(99) %
(99) %
Non-interest expense
184,533
169,284
162,713
154,718
143,867
9 %
28 %
Income before income tax expense
67,328
50,029
57,238
53,984
15,695
35 %
329 %
Income tax expense
(15,725)
(8,475)
(12,964)
(15,806)
(4,024)
86 %
291 %
Net income
$ 51,603
$ 41,554
$ 44,274
$ 38,178
$ 11,671
24 %
342 %
Diluted EPS
$ 0.44
$ 0.35
$ 0.37
$ 0.33
$ 0.10
26 %
340 %
Total loan originations (in millions)(1)
$ 2,669
$ 2,637
$ 2,656
$ 2,433
$ 2,032
1 %
31 %
Current period originations sold or held
for sale
$ 1,717
$ 2,090
$ 2,027
$ 1,702
$ 1,314
(18) %
31 %
Current period originations held for
investment
$ 952
$ 547
$ 629
$ 731
$ 717
74 %
33 %
Total servicing portfolio (in millions)(2)
$ 13,854
$ 13,423
$ 12,986
$ 12,524
$ 12,241
3 %
13 %
Loans serviced for others
$ 7,750
$ 7,601
$ 7,612
$ 7,185
$ 7,130
2 %
9 %
Performance Metrics:
Net interest margin
6.28 %
5.98 %
6.18 %
6.14 %
5.97 %
Profit margin(3)
26.7 %
18.8 %
21.5 %
21.7 %
7.2 %
Return on average equity (ROE)(4)
13.7 %
11.3 %
12.4 %
11.1 %
3.5 %
Return on tangible common equity (ROTCE)(5)(6)
14.5 %
11.9 %
13.2 %
11.8 %
3.7 %
Return on average total assets (ROA)(7)
1.8 %
1.5 %
1.7 %
1.5 %
0.4 %
Marketing expense as a % of loan
originations(1)
2.08 %
1.73 %
1.53 %
1.38 %
1.44 %
Average balance – total loans and leases
held for investment
$ 4,797,639
$ 4,767,573
$ 4,890,619
$ 4,899,272
$ 5,030,204
1 %
(5) %
Net charge-offs – total loans and leases
held for investment
$ 42,493
$ 47,852
$ 41,899
$ 46,078
$ 76,128
(11) %
(44) %
Net charge-off ratio – total loans and leases
held for investment(8)
3.5 %
4.0 %
3.4 %
3.8 %
6.1 %
Capital Metrics:
Common equity Tier 1 capital ratio
17.0 %
17.4 %
18.0 %
17.5 %
17.8 %
Tier 1 leverage ratio
11.9 %
12.0 %
12.3 %
12.2 %
11.7 %
Book value per common share
$ 13.19
$ 13.01
$ 12.68
$ 12.25
$ 11.95
1 %
10 %
Tangible book value per common share(6)
$ 12.49
$ 12.30
$ 11.95
$ 11.53
$ 11.22
2 %
11 %
(1) Beginning in the first quarter of 2026, includes all loans originated during the respective periods (unsecured consumer loans, auto loans and
small business loans). Previously this included unsecured consumer loans and auto loans only. In the first quarter of 2026, this update
included $15 million of small business loan originations. Prior periods have been reclassified to conform to the current period presentation.
(2) Reflects loans serviced on our platform, which includes unsecured consumer loans and auto loans serviced for others for which servicing
rights are retained by the Company.
(3) Calculated as the ratio of income before income tax expense to total net revenue.
(4) Calculated as annualized net income divided by average equity for the period presented.
(5) Calculated as annualized net income divided by average tangible common equity for the period presented.
(6) Represents a non-GAAP financial measure. See “Reconciliation of GAAP to Non-GAAP Financial Measures.”
(7) Calculated as annualized net income divided by average total assets for the period presented.
(8) Beginning in the first quarter of 2026, the net charge-off ratio is calculated as annualized net charge-offs for total loans and leases held for
investment (at amortized cost and fair value) divided by average total outstanding loans and leases held for investment during the period.
Prior to the first quarter of 2026, this was calculated based on loans and leases held for investment at amortized cost only. Prior period
amounts have been reclassified to conform to the current period presentation.
LENDINGCLUB CORPORATION
OPERATING HIGHLIGHTS (Continued)
(In thousands, except percentages or as noted)
(Unaudited)
As of the period ended
% Change
March 31,
2026
December 31,
2025
September 30,
2025
June 30,
2025
March 31,
2025
Q/Q
Y/Y
Balance Sheet Data:
Securities available for sale
$ 3,867,576
$ 3,706,709
$ 3,742,304
$ 3,527,142
$ 3,426,571
4 %
13 %
Loans held for sale
$ 1,836,121
$ 1,762,396
$ 1,213,140
$ 1,008,168
$ 703,378
4 %
161 %
Loans and leases held for investment
$ 4,700,990
$ 4,470,383
$ 4,573,425
$ 4,765,068
$ 4,790,138
5 %
(2) %
Total loans and leases
$ 6,537,111
$ 6,232,779
$ 5,786,565
$ 5,773,236
$ 5,493,516
5 %
19 %
Total assets
$ 11,939,839
$ 11,567,816
$ 11,072,515
$ 10,775,333
$ 10,483,096
3 %
14 %
Total deposits
$ 10,189,511
$ 9,833,870
$ 9,388,233
$ 9,136,124
$ 8,905,902
4 %
14 %
Total liabilities
$ 10,416,311
$ 10,067,388
$ 9,610,302
$ 9,369,298
$ 9,118,579
3 %
14 %
Total equity
$ 1,523,528
$ 1,500,428
$ 1,462,213
$ 1,406,035
$ 1,364,517
2 %
12 %
LENDINGCLUB CORPORATION
LOANS AND LEASES HELD FOR INVESTMENT BY DELINQUENCY STATUS
(In thousands)
(Unaudited)
The following tables present loans and leases held for investment (at amortized cost and fair value) by delinquency status(1):
March 31, 2026
Current
30-59
Days
60-89
Days
90 or More
Days
Total
Guaranteed
Amount (2)
Unsecured consumer (3)
$ 3,703,293
$ 22,006
$ 18,305
$ 16,826
$ 3,760,430
$ —
Residential mortgages
147,730
1,719
—
25
149,474
—
Secured consumer
341,829
3,012
545
237
345,623
—
Total consumer loans held for investment
4,192,852
26,737
18,850
17,088
4,255,527
—
Equipment finance (4)
32,824
—
—
3,623
36,447
—
Commercial real estate (5)
480,877
—
399
10,295
491,571
38,372
Commercial and industrial
129,103
3,662
1,417
20,122
154,304
107,816
Total commercial loans and leases held for
investment
642,804
$ 3,662
$ 1,816
$ 34,040
$ 682,322
$ 146,188
Total loans and leases held for investment
$ 4,835,656
$ 30,399
$ 20,666
$ 51,128
$ 4,937,849
$ 146,188
December 31, 2025
Current
30-59
Days
60-89
Days
90 or More
Days
Total
Guaranteed
Amount (2)
Unsecured consumer (3)
$ 3,600,434
$ 24,075
$ 19,685
$ 18,929
$ 3,663,123
$ —
Residential mortgages
150,099
—
888
86
151,073
—
Secured consumer
257,063
3,015
596
395
261,069
—
Total consumer loans held for investment
4,007,596
27,090
21,169
19,410
4,075,265
—
Equipment finance (4)
35,973
696
—
3,088
39,757
—
Commercial real estate (5)
461,307
—
—
11,182
472,489
39,507
Commercial and industrial
133,526
1,540
1,878
20,074
157,018
108,826
Total commercial loans and leases held for
investment
630,806
2,236
1,878
34,344
669,264
148,333
Total loans and leases held for investment
$ 4,638,402
$ 29,326
$ 23,047
$ 53,754
$ 4,744,529
$ 148,333
(1) Beginning in the first quarter of 2026, amounts include loans and leases held for investment measured at both
amortized cost and fair value. Prior to the first quarter of 2026, amounts included loans and leases held for
investment at amortized cost only.
(2) Represents loan balances guaranteed by the Small Business Association (SBA).
(3) Excludes basis adjustment for loans previously designated in fair value hedges under the portfolio layer
method of $0.8 million and $1.6 million as of March 31, 2026 and December 31, 2025, respectively.
(4) Comprised of sales-type leases for equipment.
(5) Includes $307.0 million and $286.8 million in loans originated through the SBA as of March 31, 2026 and
December 31, 2025, respectively.
LENDINGCLUB CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except share and per share data)
(Unaudited)
Three Months Ended
Change (%)
March 31,
2026
December 31,
2025
March 31,
2025
Q1 2026
vs
Q4 2025
Q1 2026
vs
Q1 2025
Interest income:
Interest on loans (1)
$ 199,897
$ 185,814
$ 166,173
8 %
20 %
Interest on securities available for sale
54,411
55,948
56,280
(3) %
(3) %
Other interest income
6,899
8,824
9,606
(22) %
(28) %
Total interest income
$ 261,207
$ 250,586
$ 232,059
4 %
13 %
Interest expense:
Interest on deposits
84,971
87,558
82,100
(3) %
3 %
Other interest expense
2
1
2
100 %
— %
Total interest expense
84,973
87,559
82,102
(3) %
3 %
Net interest income
176,234
163,027
149,957
8 %
18 %
Non-interest income:
Origination fees (2)
130,088
109,562
69,944
19 %
86 %
Servicing fees (2)
13,113
12,845
12,748
2 %
3 %
Gain on sales of loans (2)
16,269
15,546
12,202
5 %
33 %
Net fair value adjustments (2)
(88,925)
(39,451)
(29,251)
(125) %
(204) %
Other non-interest income
5,472
4,942
2,111
11 %
159 %
Total non-interest income
76,017
103,444
67,754
(27) %
12 %
Total net revenue
252,251
266,471
217,711
(5) %
16 %
Provision for credit losses
390
47,158
58,149
(99) %
(99) %
Non-interest expense:
Compensation and benefits
65,514
60,638
58,389
8 %
12 %
Marketing
55,415
45,680
29,239
21 %
90 %
Equipment and software
15,293
14,410
14,644
6 %
4 %
Depreciation and amortization
15,819
16,641
13,909
(5) %
14 %
Professional services
11,767
11,353
9,764
4 %
21 %
Occupancy
6,391
5,457
4,345
17 %
47 %
Other non-interest expense
14,334
15,105
13,577
(5) %
6 %
Total non-interest expense
184,533
169,284
143,867
9 %
28 %
Income before income tax expense
67,328
50,029
15,695
35 %
329 %
Income tax expense
(15,725)
(8,475)
(4,024)
86 %
291 %
Net income
$ 51,603
$ 41,554
$ 11,671
24 %
342 %
Net income per share:
Basic EPS
$ 0.45
$ 0.36
$ 0.10
25 %
350 %
Diluted EPS
$ 0.44
$ 0.35
$ 0.10
26 %
340 %
Weighted-average common shares – Basic
115,400,564
115,334,621
113,693,399
— %
2 %
Weighted-average common shares – Diluted
117,333,435
118,855,315
116,176,898
(1) %
1 %
(1) Beginning in the first quarter of 2026, we combined “Interest on loans held for sale,” “Interest and fees on loans and leases held for
investment,” and “Interest on loans held for investment at fair value,” into a single line item called “Interest on loans.” Prior period
amounts have been reclassified to conform to the current period presentation.
(2) Beginning in the first quarter of 2026, these components previously aggregated under “Marketplace revenue” on the Income Statement,
are now presented as separate line items. Prior period amounts have been reclassified to conform to the current period presentation.
LENDINGCLUB CORPORATION
NET INTEREST INCOME
(In thousands, except percentages or as noted)
(Unaudited)
Consolidated LendingClub Corporation (1)
Three Months Ended
March 31, 2026
Three Months Ended
December 31, 2025
Three Months Ended
March 31, 2025
Average
Balance
Interest
Income/
Expense
Average
Yield/
Rate
Average
Balance
Interest
Income/
Expense
Average
Yield/
Rate
Average
Balance
Interest
Income/
Expense
Average
Yield/
Rate
Interest-earning assets (2)
Cash, cash equivalents,
restricted cash and other
$ 775,385
$ 6,899
3.56 %
$ 905,427
$ 8,824
3.90 %
$ 893,058
$ 9,606
4.30 %
Securities available for sale
at fair value
3,737,199
54,411
5.82 %
3,695,980
55,948
6.06 %
3,397,720
56,280
6.63 %
Loans held for sale at fair
value
1,910,017
64,531
13.51 %
1,530,624
51,006
13.33 %
723,972
21,814
12.05 %
Loans held for investment
at fair value
807,486
25,467
12.62 %
455,168
12,292
10.80 %
921,008
25,410
11.04 %
Loans and leases held for
investment at amortized
cost:
Unsecured consumer
loans
2,934,584
94,763
12.92 %
3,252,204
106,716
13.13 %
3,097,136
104,722
13.53 %
Commercial and
secured consumer loans
1,055,569
15,136
5.74 %
1,060,201
15,800
5.96 %
1,012,060
14,227
5.62 %
Loans and leases held for
investment at amortized
cost
3,990,153
109,899
11.02 %
4,312,405
122,516
11.36 %
4,109,196
118,949
11.58 %
Total loans and leases held
for investment
4,797,639
135,366
11.29 %
4,767,573
134,808
11.31 %
5,030,204
144,359
11.48 %
Total interest-earning
assets
11,220,240
261,207
9.31 %
10,899,604
250,586
9.20 %
10,044,954
232,059
9.24 %
Cash and due from banks
and restricted cash
26,343
32,308
30,084
Allowance for loan and
lease losses
(262,466)
(275,187)
(239,608)
Other non-interest earning
assets
668,486
644,221
593,740
Total assets
$ 11,652,603
$ 11,300,946
$ 10,429,170
Interest-bearing liabilities
Interest-bearing deposits (3):
Savings and money
market accounts
6,694,780
58,714
3.56 %
6,478,888
60,960
3.73 %
5,917,852
55,881
3.83 %
Certificates of deposit
2,488,015
25,174
4.10 %
2,400,374
25,377
4.19 %
2,172,242
24,866
4.64 %
Checking accounts
393,963
1,083
1.12 %
396,430
1,221
1.22 %
430,449
1,353
1.27 %
Interest-bearing deposits
9,576,758
84,971
3.60 %
9,275,692
87,558
3.75 %
8,520,543
82,100
3.91 %
Other interest-bearing
liabilities
222
2
3.79 %
109
1
4.28 %
222
2
4.47 %
Total interest-bearing
liabilities
9,576,980
84,973
3.60 %
9,275,801
87,559
3.75 %
8,520,765
82,102
3.91 %
Noninterest-bearing
deposits
334,136
311,147
321,777
Other liabilities
233,776
240,642
237,155
Total liabilities
$ 10,144,892
$ 9,827,590
$ 9,079,697
Total equity
$ 1,507,711
$ 1,473,356
$ 1,349,473
Total liabilities and equity
$ 11,652,603
$ 11,300,946
$ 10,429,170
Interest rate spread
5.71 %
5.45 %
5.33 %
Net interest income and
net interest margin
$ 176,234
6.28 %
$ 163,027
5.98 %
$ 149,957
5.97 %
(1) Consolidated presentation reflects intercompany eliminations.
(2) Nonaccrual loans and any related income are included in their respective loan categories.
(3) Prior period amounts have been reclassified to conform to the current period presentation.
LENDINGCLUB CORPORATION
CONSOLIDATED BALANCE SHEETS
(In Thousands, Except Share and Per Share Amounts)
(Unaudited)
March 31,
2026
December 31,
2025
Assets
Cash and due from banks
$ 19,528
$ 11,749
Interest-bearing deposits in banks
782,415
905,905
Total cash and cash equivalents
801,943
917,654
Restricted cash
19,919
12,783
Securities available for sale at fair value ($3,908,834 and $3,733,780 at amortized
cost, respectively)
3,867,576
3,706,709
Loans held for sale at fair value
1,836,121
1,762,396
Loans held for investment at fair value
1,237,850
473,314
Loans and leases held for investment
3,700,837
4,272,812
Allowance for loan and lease losses
(237,697)
(275,743)
Loans and leases held for investment, net
3,463,140
3,997,069
Property, equipment and software, net
273,472
254,088
Goodwill
75,717
75,717
Other assets
364,101
368,086
Total assets
$ 11,939,839
$ 11,567,816
Liabilities and Equity
Deposits:
Interest-bearing
$ 9,781,568
$ 9,459,483
Noninterest-bearing
407,943
374,387
Total deposits
10,189,511
9,833,870
Other liabilities
226,800
233,518
Total liabilities
10,416,311
10,067,388
Equity
Common stock, $0.01 par value; 180,000,000 shares authorized; 115,497,890 and
115,368,987 shares issued and outstanding, respectively
1,155
1,154
Additional paid-in capital
1,701,280
1,719,233
Accumulated deficit
(150,196)
(201,799)
Accumulated other comprehensive loss
(28,711)
(18,160)
Total equity
1,523,528
1,500,428
Total liabilities and equity
$ 11,939,839
$ 11,567,816
LENDINGCLUB CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In thousands, except share and per share data)
(Unaudited)
Tangible Book Value Per Common Share
March 31,
2026
December 31,
2025
September 30,
2025
June 30,
2025
March 31,
2025
GAAP common equity
$ 1,523,528
$ 1,500,428
$ 1,462,213
$ 1,406,035
$ 1,364,517
Less: Goodwill
(75,717)
(75,717)
(75,717)
(75,717)
(75,717)
Less: Customer relationship intangible
assets
(5,039)
(5,685)
(8,206)
(7,068)
(7,778)
Tangible common equity
$ 1,442,772
$ 1,419,026
$ 1,378,290
$ 1,323,250
$ 1,281,022
Book value per common share
GAAP common equity
$ 1,523,528
$ 1,500,428
$ 1,462,213
$ 1,406,035
$ 1,364,517
Common shares issued and outstanding
115,497,890
115,368,987
115,301,440
114,740,147
114,199,832
Book value per common share
$ 13.19
$ 13.01
$ 12.68
$ 12.25
$ 11.95
Tangible book value per common share
Tangible common equity
$ 1,442,772
$ 1,419,026
$ 1,378,290
$ 1,323,250
$ 1,281,022
Common shares issued and outstanding
115,497,890
115,368,987
115,301,440
114,740,147
114,199,832
Tangible book value per common share
$ 12.49
$ 12.30
$ 11.95
$ 11.53
$ 11.22
Return On Tangible Common Equity
For the three months ended
March 31,
2026
December 31,
2025
September 30,
2025
June 30,
2025
March 31,
2025
Average GAAP common equity
$ 1,507,711
$ 1,473,356
$ 1,424,538
$ 1,381,199
$ 1,349,473
Less: Average goodwill
(75,717)
(75,717)
(75,717)
(75,717)
(75,717)
Less: Average customer relationship
intangible assets
(5,362)
(6,031)
(6,722)
(7,423)
(8,182)
Average tangible common equity
$ 1,426,632
$ 1,391,608
$ 1,342,099
$ 1,298,059
$ 1,265,574
Return on average equity
Annualized GAAP net income
$ 206,412
$ 166,216
$ 177,096
$ 152,712
$ 46,684
Average GAAP common equity
$ 1,507,711
$ 1,473,356
$ 1,424,538
$ 1,381,199
$ 1,349,473
Return on average equity
13.7 %
11.3 %
12.4 %
11.1 %
3.5 %
Return on tangible common equity
Annualized GAAP net income
$ 206,412
$ 166,216
$ 177,096
$ 152,712
$ 46,684
Average tangible common equity
$ 1,426,632
$ 1,391,608
$ 1,342,099
$ 1,298,059
$ 1,265,574
Return on tangible common equity
14.5 %
11.9 %
13.2 %
11.8 %
3.7 %
View original content to download multimedia:https://www.prnewswire.com/news-releases/lendingclub-reports-first-quarter-2026-results-302754594.html
SOURCE LendingClub Corporation
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Technology
Healthcare Data Center Market to Reach USD 37.11 Billion by 2035 as AI Genomics, EHR Resilience and Hosted Capacity Reshape Healthcare Infrastructure – DC Market Insights
Published
32 minutes agoon
October 23, 2026By
Market grows at a 9.15% CAGR from USD 15.46 billion in 2025; AI genomics and research computing expands 16.71% a year, while North America holds 46.0% of spending
LONDON, Oct. 23, 2026 /PRNewswire/ — The “Healthcare Data Center Market – Growth, Share, Opportunities & Competitive Analysis, 2026-2035” report has been added to the DC Market Insights offering. The global Healthcare Data Center Market was valued at USD 15.46 billion in 2025, is estimated at USD 17.34 billion in 2026, and is projected to reach USD 37.11 billion by 2035, growing at a CAGR of 9.15% from 2025 to 2035. DC Market Insights finds that healthcare infrastructure is splitting between general-purpose EHR workloads that increasingly move to hosted environments and higher-value AI, imaging, research and resilience workloads that require dedicated or colocated capacity.
Healthcare Data Center Market at a Glance
Metric
Value (DC Market Insights estimate)
Market size, 2020
USD 9.77 billion
Market size, 2025 (base year)
USD 15.46 billion
Market size, 2026
USD 17.34 billion (+12.16% year on year)
Market size, 2030
USD 25.10 billion
Market size, 2035
USD 37.11 billion
CAGR 2025-2035
9.15% (low case 7.13%, high case 10.69%)
Largest component
IT hardware, 70.7% of 2025 value
Fastest-growing workload
AI genomics and research computing, 16.71% CAGR
Leading region
North America, 46.0% (USD 7.11 billion)
Fastest-growing region
Asia Pacific, 11.72% CAGR
Largest end user
Hospitals and health systems, 47.0% of 2025 value
Key Takeaways
IT hardware accounts for USD 10.93 billion, or 70.7% of 2025 market value, reflecting the high server, storage and accelerator content of clinical and research workloads.AI genomics and research computing is the fastest workload, rising 16.71% a year from USD 2.30 billion in 2025 to USD 10.78 billion by 2035.Hospitals and health systems remain the largest end user at USD 7.27 billion in 2025, while pharmaceutical and life sciences grows fastest among end users at 11.61% a year.On-premises owned sites hold 60.0% of 2025 value, but wholesale and build-to-suit grows 14.01% a year as research and AI clusters move into purpose-built capacity.North America leads with 46.0% of 2025 spending, while Asia Pacific grows fastest at 11.72%; India is the fastest-growing large country at 18.37% a year.
Scope & Segmentation – Healthcare Data Center Market
The report analyzes the market across the following segments:
Component: IT Hardware; Colocation and Hosting Services; Electrical and Mechanical Infrastructure; Construction and Fit-OutEnd User: Hospitals and Health Systems; Pharmaceutical and Life Sciences; Payers and Health Insurers; Health IT and Medtech Vendors; Public Health and Research InstitutesWorkload: EHR and Clinical Applications; Medical Imaging and PACS; AI Genomics and Research Computing; Claims and Revenue Cycle; Backup and Disaster Recovery; Collaboration and Other WorkloadsDeployment Model: On-Premises Owned Sites; Retail Colocation; Wholesale and Build-to-Suit; Vendor-Hosted Private CloudGeography: North America; Europe; Asia Pacific; Latin America; Middle East and Africa, with 12 country forecasts
Report Updated: Oct. 22, 2026
Get Free Sample Report – Healthcare Data Center Market
“Healthcare data center demand is moving in two directions at once: hospitals are reducing general-purpose owned halls while AI, imaging, research and cyber-resilience requirements add denser, higher-value infrastructure. Our model shows AI genomics and research computing growing 16.71% a year and wholesale or build-to-suit capacity growing 14.01%, while the owned-site share falls from 60.0% in 2025 toward 45.0% by 2035. That makes compliant hosted capacity, AI-ready infrastructure and recoverability the strongest growth pools through the forecast period.”
— Amit Jain, Senior Consultant, ICT & Emerging Technologies, DC Market Insights, report author
Why This Report Matters
Healthcare data centers sit at the intersection of patient-data availability, clinical application performance, medical imaging, pharmaceutical research and cyber resilience. The report helps health systems, life sciences companies, colocation operators, cloud and hosting providers, equipment vendors and investors size infrastructure demand while separating public-cloud migrations that leave the market from leased and owned capacity that remains in scope.
Key Attributes
Report attribute
Details
Historical Period
2020-2024
Base Year
2025
Forecast Period
2026-2035
Market Size 2025
USD 15.46 billion
Market Size 2026
USD 17.34 billion
Market Size 2035
USD 37.11 billion
CAGR 2025-2035
9.15% (low 7.13%, high 10.69%)
Leading Region
North America, 46.0%
Report Format
PDF + Excel
How Big Is the Healthcare Data Center Market in 2026?
DC Market Insights values the Healthcare Data Center Market at USD 17.34 billion in 2026, 12.16% above 2025, as backup sites, AI clusters for drug discovery and leased halls for electronic health records are added faster than hospital server rooms close. The model places healthcare IT load at 3,300 MW in 2025 and projects it to double to 6,600 MW by 2035, with accelerator racks taking a larger share of the mix.
Year
Market size
2020
USD 9.77 billion
2025
USD 15.46 billion
2026
USD 17.34 billion (+12.16% year on year)
2030
USD 25.10 billion
2035
USD 37.11 billion
Source: DC Market Insights, Healthcare Data Center Market report, Oct. 22, 2026.
Why Do AI and Research Workloads Raise Healthcare Data Center Spend?
AI infrastructure changes the value of each megawatt. DC Market Insights estimates a conventional healthcare MW carries about USD 3.05 million a year of hardware, while an AI MW carries about USD 8.30 million. That premium comes from GPU systems, high-speed networking, large research datasets and the supporting power and cooling required for accelerated computing. The result is that market value grows faster than healthcare IT load as the accelerator share rises from about 5% in 2025 toward 22% by 2035.
Which Component Leads Healthcare Data Center Spending?
IT hardware remains the largest component, but colocation and hosting services grow faster as providers absorb EHR, imaging, backup and research workloads that institutions no longer want to operate in ageing hospital server rooms.
Component
2025 value
Share 2025
2035 value
CAGR
IT Hardware
USD 10,931.24M
70.7 %
USD 24,479.40M
8.40 %
Colocation and Hosting Services
USD 3,136.32M
20.3 %
USD 9,496.08M
11.72 %
Electrical and Mechanical Infrastructure
USD 967.87M
6.3 %
USD 2,058.14M
7.84 %
Construction and Fit-Out
USD 427.77M
2.8 %
USD 1,078.98M
9.69 %
DC Exclusive: Hospital Data Center Exit Tracker
DC Market Insights tracks 14 named healthcare infrastructure moves from 2014 through 2026. Ten moved workloads to public cloud, two went to colocation and two built new owned sites. The pattern explains why owned data centers can lose share even while the overall market expands: general-purpose EHR estates leave older halls, while AI and research clusters arrive as new owned, wholesale or colocated capacity. The model therefore takes the owned-site share from 60.0% in 2025 toward 45.0% by 2035.
Workload
2025 value
Share 2025
2035 value
CAGR
EHR and Clinical Applications
USD 4,638.95M
30.0 %
USD 8,907.02M
6.74 %
Medical Imaging and PACS
USD 2,783.38M
18.0 %
USD 6,309.14M
8.53 %
AI Genomics and Research Computing
USD 2,297.83M
14.9 %
USD 10,777.50M
16.71 %
Claims and Revenue Cycle
USD 2,010.22M
13.0 %
USD 4,082.39M
7.34 %
Backup and Disaster Recovery
USD 2,164.85M
14.0 %
USD 4,453.51M
7.48 %
Collaboration and Other Workloads
USD 1,567.97M
10.1 %
USD 2,583.04M
5.12 %
Which Region Leads the Healthcare Data Center Market?
North America leads because the United States combines a large installed hospital base, near-universal certified EHR adoption and significant pharmaceutical research infrastructure. Asia Pacific grows fastest as India, China and other markets add local capacity under health-data localization and digital-health programs.
Indicator
2025 / Base
Outlook
Leading region
North America, 46.0% (USD 7.11B)
USD 15.77B by 2035; remains the largest regional spending pool
Fastest-growing region
Asia Pacific, 11.72% CAGR
Reaches USD 9.83B by 2035 as India and China add domestic health-data capacity
Fastest large country
India, 18.37% CAGR
USD 247.41M in 2025 to USD 1.34B by 2035
Largest country
United States, USD 6.49B in 2025
Remains the largest national market through the forecast
How Could the 2035 Forecast Change?
The 2035 outcome depends on how quickly hospital EHR estates move to public cloud, how much pharmaceutical AI is purchased as cloud capacity rather than dedicated infrastructure, and how strongly resilience rules push institutions to maintain recoverable private or colocated capacity.
Scenario
Assumption
2035 value
CAGR 2025-2035
Low
Faster EHR migration to public cloud; more pharma AI bought as cloud capacity
USD 30.80B
7.13 %
Base
Healthcare IT load reaches 6,600 MW; 22% on AI racks; 55% leased
USD 37.11B
9.15 %
High
Stricter 72-hour restore requirements and more drug makers build owned AI factories
USD 42.68B
10.69 %
Competitive Landscape and Recent Developments
The five largest colocation providers account for about 31% of the USD 3.14 billion healthcare colocation and hosting market in 2025, leaving the sector fragmented. Competition spans colocation, EHR hosting, cloud services, AI hardware and the power and cooling systems required for hospital and life-sciences infrastructure.
Companies profiled include:
Equinix; Digital Realty; Iron Mountain Data Centers; CyrusOne; NTT DATA; Epic Systems (Epic Hosting); Oracle (Oracle Health); Microsoft (Nuance); Amazon Web Services; Google Cloud; Dell Technologies; Hewlett Packard Enterprise; NVIDIA; Cisco Systems; Schneider Electric; Vertiv.
In July 2026, WellSpan Health completed the move of more than 300 applications and 7.5 PB of data to AWS in 17 weeks.In April 2026, the U.S. Department of Veterans Affairs requested USD 4.2 billion for its EHR in fiscal 2027, including USD 745 million for infrastructure readiness.In February 2026, Eli Lilly’s LillyPod AI factory with more than 9,000 petaflops went live in Indianapolis.In February 2026, five Ontario hospitals in Transform Shared Service Organization moved their EHR to Oracle Cloud Infrastructure, cutting page-load time by 71%.In January 2026, NVIDIA and Eli Lilly agreed to invest up to USD 1 billion over five years in an AI co-innovation lab.In November 2025, India notified the DPDP Rules with an 18-month phased timeline.
Frequently Asked Questions
What is the size of the Healthcare Data Center Market?
USD 15.46 billion in 2025 and USD 17.34 billion in 2026, projected to reach USD 37.11 billion by 2035 at a 9.15% CAGR.
Which component leads the market?
IT hardware, with USD 10.93 billion or 70.7% of 2025 spending.
Which workload grows fastest?
AI genomics and research computing, at 16.71% a year through 2035.
Which healthcare end user spends the most?
Hospitals and health systems, with USD 7.27 billion or 47.0% of 2025 market value.
Which region leads?
North America with USD 7.11 billion or 46.0% of 2025 value; Asia Pacific grows fastest at 11.72% a year.
Who are the leading suppliers?
Equinix, Digital Realty, Iron Mountain Data Centers, CyrusOne and NTT DATA are among the leading colocation providers, alongside major healthcare hosting, cloud, hardware and infrastructure vendors.
Methodology
DC Market Insights builds the healthcare data center market bottom-up from 3,300 MW of healthcare IT load in 2025 and spending per MW for hardware, colocation and hosting, electrical and mechanical infrastructure, and construction and fit-out. The model separates conventional and AI MW, applies leased-capacity economics, and reconciles end-user, workload, deployment, regional and country splits to the total market before applying forecast assumptions.
Download Sample Report – Healthcare Data Center Market
Related Reports from DC Market Insights
Data Center Colocation Market
AI Data Center Market
Data Center Outsourcing Market
Multi-Tenant Data Center Market
Data Center Virtualization Market
DC Market Insights Data & Tools
Explore live datasets and decision tools used across DC Market Insights research:
Data Center Database
Data Center Map
Data Center Operators
Global Capacity Tracker
Deal Tracker
Power & Policy Tracker
PUE Calculator
Construction Pipeline
Deal Comps
Site Risk
Electricity Rates
Data Center Footprint
About DC Market Insights
DC Market Insights is a dedicated research and consulting firm that empowers data center leaders with actionable intelligence. We combine rigorous market research, advanced analytics and practical advisory support to help organizations make confident decisions in an increasingly complex digital infrastructure landscape. Our goal is to transform data into clarity, giving clients the ability to act decisively on strategy, investment and execution.
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DC Market Insights
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View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/healthcare-data-center-market-to-reach-usd-37-11-billion-by-2035-as-ai-genomics-ehr-resilience-and-hosted-capacity-reshape-healthcare-infrastructure—dc-market-insights-302918129.html
Technology
City of Hope Cancer Center Chicago Unites Industry Leaders for Health Technology Innovation Roundtable
Published
32 minutes agoon
October 23, 2026By
CHICAGO, Oct. 23, 2026 /PRNewswire/ — Faster access to care, more affordable treatment and policies that support innovation were central themes of a Health Technology Innovation Roundtable convened by City of Hope® Cancer Center Chicago on Thursday, October 15, at its hospital in Zion.
The discussion brought together Congressman Brad Schneider (IL-10) and leaders from City of Hope, Vantive and Zocdoc to examine how technology can help bend the health care cost curve, connect patients with care sooner and expand access to specialized treatment.
“Thank you to City of Hope in Zion for graciously hosting our recent roundtable to discuss how emerging health technologies are shaping patient care, access, and affordability,” said Schneider. “I am proud to represent a district where so many people work in the life sciences field to advance innovation. This convening was an important opportunity to hear directly from health technology innovators about the progress they are making to better connect patients with lifesaving care and how we can work together. I will continue to partner with City of Hope and the health technology experts throughout our district to ensure more people have access to the cutting-edge treatment and testing they deserve.”
The conversation spanned digital appointment scheduling, home dialysis, surgical robotics, artificial intelligence and remote monitoring. Zocdoc’s digital marketplace connects patients with available appointments, helping fill openings that might otherwise go unused. Vantive’s work in kidney care, including home dialysis, illustrated how technology can expand options for where and how patients receive treatment. City of Hope’s experience with advanced surgery and wearable devices highlighted opportunities to bring specialized expertise closer to patients and support recovery at home.
“Technological advancements continue to evolve rapidly, and keeping up with them can feel like a job unto itself,” said Pete Govorchin, president of City of Hope Chicago. “Having an opportunity to pause and reflect on the progress we have seen thus far, as well as look ahead to what’s next alongside a distinguished panel of respected professionals, is critical.”
The discussion also addressed barriers that can keep innovation from reaching patients, including state licensing requirements, limited broadband, outdated regulations and reimbursement challenges. Access for rural communities and veterans was a recurring concern, alongside the need to measure how new technologies improve outcomes and reduce avoidable costs.
“As both a developer and adopter of advanced surgical technologies, City of Hope is well positioned to provide practical, evidence-based insights into how robotic surgery and other procedures, delivered remotely, could improve access, enhance quality, and support the future of patient-centered care,” said Dr. Yuman Fong, a City of Hope surgical oncologist.
Joining Schneider, Govorchin and Fong were Chris Toth, CEO of Vantive; Kyle Jackson, Vantive’s executive director of government affairs and market development; and Ilyssa Meyer, Zocdoc’s director of government affairs.
“I was proud to be part of an important convening of health technology experts discussing how we can continue to work together to connect more patients to care and innovative treatment. Rep. Schneider’s leadership on the bipartisan, bicameral Health ACCESS Act is an important next step in turning the innovations discussed at the recent roundtable into broader access to care,” added Meyer. “By reducing barriers to digital health services and online appointment scheduling, the bill can help connect more patients with the care they need.”
About City of Hope
City of Hope’s mission is to make hope a reality for all touched by cancer and diabetes. Founded in 1913, City of Hope has grown into one of the largest and most advanced cancer research and treatment organizations in the United States, and one of the leading research centers for diabetes and other life-threatening illnesses. City of Hope research has been the basis for numerous breakthrough cancer medicines, as well as human synthetic insulin and monoclonal antibodies. With an independent, National Cancer Institute-designated comprehensive cancer center that is ranked among the nation’s top cancer centers by U.S. News & World Report at its core, City of Hope’s uniquely integrated model spans cancer care, research and development, academics and training, and a broad philanthropy program that powers its work. City of Hope’s growing national system includes its Los Angeles campus, Orange County, California, campus, a network of clinical care locations across Southern California and cancer treatment centers and outpatient facilities in the Atlanta, Chicago and Phoenix areas. City of Hope’s affiliated group of organizations includes Translational Genomics Research Institute and AccessHope™. For more information about City of Hope, follow us on Facebook, X, YouTube, Instagram and LinkedIn.
View original content to download multimedia:https://www.prnewswire.com/news-releases/city-of-hope-cancer-center-chicago-unites-industry-leaders-for-health-technology-innovation-roundtable-302917568.html
SOURCE City of Hope Cancer Center Chicago
Technology
Kin Becomes First U.S. Home Insurer to Enable WebMCP for AI Shopping
Published
32 minutes agoon
October 23, 2026By
Consumers can now use ChatGPT to efficiently shop Kin’s digital home insurance experience
CHICAGO, Oct. 23, 2026 /PRNewswire/ — Building on its recent announcement that AI shopping agents like Meta’s Muse are welcome to shop on Kin.com, Kin is making its digital home insurance experience even easier for AI to shop. Kin, the direct-to-consumer provider of insurance and home finance solutions for homeowners, today announced that it has enabled WebMCP in its digital quoting experience. The new capability gives ChatGPT a faster and more efficient way to interact with Kin.com on a consumer’s behalf.
Homeowners can go from their AI agent prompt to a customized Kin home insurance quote ready for purchase in minutes due to the data-informed Kin.com quoting process.
“We said that Kin will win the AI shopping experience, and we meant it,” said Kin Founder and CEO Sean Harper. “People are going to increasingly ask AI to do the tedious work of shopping for them. We want someone to be able to tell ChatGPT, ‘Help me shop for home insurance,’ and make it incredibly easy for that AI agent to shop Kin.”
Unlike plug-ins that require installation, WebMCP is an open web standard which lets AI agents work directly with Kin.com, creating a more efficient way to interact with Kin’s digital experience, and making it easier for them to help consumers shop for home insurance. For consumers, that means AI can do more of the repetitive work involved in insurance shopping, while Kin makes its experience easier for those AI agents to navigate.
Built for the Way Consumers Will Shop
The launch builds on Kin’s announcement that it would welcome Meta’s Muse and other AI shopping agents to Kin.com rather than block them. In Kin’s testing, Muse was able to retrieve home insurance quotes after asking consumers only a handful of questions. Likewise, with ChatGPT, Kin testing found consumers could easily price out home insurance in a clear side-by-side view with minimal questions. The technology improves daily, and Kin is committed to implementing open standards like WebMCP, which ChatGPT supports for paid users on its browser-based platform. While free ChatGPT accounts cannot use this protocol, consumers can still easily get a quote at kin.com.
Kin was built to sell home insurance directly to consumers through a digital experience, without relying on external agents. It also analyzes thousands of data points about individual homes, meaning much of the information needed to generate a quote can already be gathered without asking the homeowner.
“We didn’t have to reinvent Kin for AI shopping,” Harper said. “We already built a direct digital experience, we already have the data to answer most of the questions about a home, and we don’t depend on someone in the middle to sell the product. AI shopping rewards a lot of the things we’ve been building for years.”
A New Way to Shop for Insurance
Kin expects AI agents to become increasingly capable of helping consumers gather information, understand coverage and shop across insurance providers. As those capabilities improve, Kin plans to continue making its digital experience easier for both people and the AI agents working on their behalf.
“Five years from now, opening a bunch of browser tabs and filling out the same information over and over is going to seem pretty antiquated,” Harper said. “You’ll tell your AI what you need and it will go do the work. We’ve built Kin to win in that world.”
About Kin
Kin helps homeowners save money, simplify tasks, and protect their most valuable assets. By offering direct-to-consumer digital home and auto insurance alongside home finance services, the company focuses on supporting underserved homeowners in states with high catastrophic risk. Kin provides more convenient and affordable home and auto insurance coverage by eliminating the need for external agents and analyzing thousands of data points to provide transparent, accurate pricing. Kin’s AI-native technology platform delivers a seamless customer experience, customized options, and fast, high-quality service. To learn more, visit www.kin.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/kin-becomes-first-us-home-insurer-to-enable-webmcp-for-ai-shopping-302917809.html
SOURCE Kin Insurance, Inc.
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