Figure Technology Solutions (FIGR) Bernstein 42nd Annual Strategic Decisions Conference summary

Vision and evolution

• Maintains a consistent vision to modernize capital markets using blockchain and automation since 2018, focusing on cost reduction and standardization.

• Successfully navigated various regulatory, technological, and interest rate environments.

• Built marketplaces by initially using own inventory, then transitioning to a platform model.

• Emphasizes durability and difficulty of disrupting established marketplaces.

Business model and technology

• Operates a blockchain-based capital markets platform, primarily in mortgages, with 380 partners.

• Achieves significant cost savings, originating mortgages at $1,000 versus the $12,000 industry average.

• Expanding technology to other consumer credit and asset classes.

• Figure Connect now accounts for over 60% of volume, with the company acting as the rails, not the balance sheet.

Tokenization and blockchain benefits

• Tokenization is now mainstream in boardrooms, driven by efficiency, liquidity, and lien perfection.

• Blockchain eliminates third-party diligence, standardizes data, and increases liquidity.

• Enables lien perfection, reducing fraud and double pledging in lending.

• Seeks to replicate Fannie Mae’s liquidity and standardization across asset classes.