LendingClub, Pagaya Team Up to Buy Tech From Defunct Card Firm

LendingClub Corp. and Pagaya Technologies Ltd. agreed to jointly buy the intellectual property behind the now-shuttered Tally Technologies Inc., which helped consumers and businesses manage credit-card debt.

LendingClub, the fintech lender turned full-service online bank, will use Tally’s technology to help customers reduce their debt costs, according to a statement Wednesday. Pagaya, which uses artificial intelligence to help lenders approve more creditworthy borrowers, will offer Tally’s business-to-business debt-management capabilities to its network of lending partners.

“Tally’s credit-card management platform — along with a few select former Tally employees who have joined our team – will bolster those efforts and ...