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Stock impact report

Can Dave Sustain Its ExtraCash Surge While Managing Credit Risks? [Yahoo! Finance]

Coastal Financial Corporation (CCB) 
Last coastal financial corporation earnings: 4/27 09:25 am Check Earnings Report
Company Research Source: Yahoo! Finance
While $2 billion in ExtraCash originations is significantly impressive, it attracts credit risks. Hence, the vital question that remains on the table is whether the company can mitigate the credit risks while managing the ExtraCash trajectory. DAVE has incorporated its proprietary AI and machine learning model, CashAI v5.5, into its arsenal to stand tall against the lingering credit risks. This technology is trained on more than 7 million ExtraCash originations and is pretty effective, as evidenced by a reduction in its 28-day delinquency rate to 2.33% from the preceding quarter's 2.4%. The company's net monetization rate paints an optimistic picture. This metric has improved 45 basis points from the year-ago quarter, highlighting its underwriting precision. While the new fee model has generated fruitful results by capturing revenues with ease, it has done so by offsetting the rising risks of larger advances leveraging its CashAI v5.5. The partnership between Dave and Coastal Co Show less Read more
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