Pagaya partners with various banks and fintech companies including LendingClub, SoFi Technologies, Prosper, and Upgrade. In many cases, although not all, these partners will send certain loan requests to Pagaya, which can do the underwriting using artificial intelligence -- the company had 16 million training points as of September 2021. If the loan is approved, the partner bank originates the loan and Pagaya then pairs it with an institutional investor such as an asset manager or pension fund on the other side of its network.