Happen doubled loan originations through its mobile app, deposits grew 22%

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Happen said loan originations through its mobile app doubled year over year, while third-quarter deposits grew 22% year over year to $11.5 billion. Loan originations increased 26% to $3.3 billion, and the net charge-off rate for held-for-investment loans improved from 3.4% in the previous period to 3.1%. Its AI service agent Penny resolved 30% more calls than the previous system, while Happen Connect shortened partner onboarding time by 60%.