Revenue

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

Note 3. Revenue

In each of our revenue arrangements, revenue is recognized when control of the promised goods or services is transferred to the customer in an amount that reflects our expected consideration in exchange for those goods or services. Our arrangements are discussed in our Annual Report on Form 10-K, with notable updates provided herein.

Disaggregated Revenue

The table below presents revenue from contracts with customers disaggregated by type of service, which best depicts how the revenue and cash flows are affected by economic factors, and by the reportable segment to which each revenue stream relates, as well as a reconciliation of total revenue from contracts with customers to total noninterest income. Revenue from contracts with customers is presented within noninterest income—technology products and solutions and noninterest income—other in the condensed consolidated statements of operations and comprehensive income (loss).

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Financial Services
Referrals	$	13,618	$	8,223	$	26,354	$	17,849
Interchange	14,457		8,663		26,459		15,932
Brokerage	5,960		5,225		9,994		10,103
Other(1)	654		348		1,581		835
Total financial services	34,689		22,459		64,388		44,719
Technology Platform(2)
Technology services	85,469		80,328		170,119		152,457
Other(1)	624		1,906		1,884		2,999
Total technology platform	86,093		82,234		172,003		155,456
Total revenue from contracts with customers	120,782		104,693		236,391		200,175
Other Sources of Revenue
Loan origination, sales, and securitizations	54,872		90,164		111,872		213,498
Servicing	6,659		9,052		13,633		21,794
Other	3,721		2,983		66,415		7,573
Total other sources of revenue	65,252		102,199		191,920		242,865
Total noninterest income	$	186,034	$	206,892	$	428,311	$	443,040

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(1) Financial Services includes revenues from enterprise services and equity capital markets services. Technology Platform includes revenues from software licenses and associated services, and payment network fees for serving as a transaction card program manager for enterprise customers that are the program marketers for separate card programs.

(2) Related to these technology platform services, we had deferred revenue of $7,078 and $5,718 as of June 30, 2024 and December 31, 2023, respectively, which are presented within accounts payable, accruals and other liabilities in the condensed consolidated balance sheets. We recognized revenue of $1,086 and $2,444 during the three months ended June 30, 2024 and 2023, respectively, and $2,386 and $4,784 during the six months ended June 30, 2024 and 2023, respectively, associated with deferred revenue within noninterest income—technology products and solutions in the condensed consolidated statements of operations and comprehensive income (loss).

Contract Balances

As of June 30, 2024 and December 31, 2023, accounts receivable, net associated with revenue from contracts with customers was $68,150 and $60,466, respectively, reported within other assets in the condensed consolidated balance sheets.