LexFin launches first-of-its kind fintech lending and payments platform for legal services in partnership with Coastal Community Bank.
TACOMA, Wash., March 31, 2022 /PRNewswire/ — LexFin has entered a partnership with Coastal Community Bank, Member FDIC (“Coastal”). LexFin provides a first-of-its-kind digital lending and payments platform that engages lawyers, clients, banks, and capital markets to make legal services more affordable for millions of people. Coastal has partnered with LexFin to be the lender for legal service loans in Washington State and across the country. Coastal provides a range of banking products and services to consumers and small to medium-sized businesses, and partners with innovative fintech companies in delivering next-generation banking and financial services through its fintech division, CCBX.
“Affordable access to legal services is essential to fair and just outcomes under the law, and many people simply don't have affordable access,” said Sands McKinley, LexFin's Founder and CEO. “Our platform model is unique and designed specifically for the legal vertical. Coastal Bank is the ideal partner for us because they excel at working with unique companies like LexFin.”
“We're excited to partner with LexFin in supporting its mission to make legal services more accessible, both here in Washington and throughout the country,” said Eric Sprink, Coastal Bank's CEO. “This collaboration also further expands the reach of CCBX, which we launched in 2015 to partner with innovative companies like LexFin.”
Currently, Coastal Community Bank's CCBX division has 28 fintech partners, including LexFin.
LexFin is a financial services technology company founded in Tacoma, Washington in 2020. The company's mission is to help people afford legal services and help law firms thrive. LexFin, LLC is regulated by the Washington Department of Financial Institutions. NMLS ID 2023310. For more information about LexFin, visit www.lexfin.com.
About Coastal Community Bank, Member FDIC
Since 1997, Coastal Community Bank has helped small businesses fight to win. As the largest community bank by deposit share in its primary market, Coastal Community Bank delivers a full range of financial services to small and medium-sized businesses, professionals, and individuals and 14 full-service branches in three counties.
In addition to community banking, the Bank also provides banking as a service (“BaaS”) through the company's CCBX Division, partnering with broker-dealers and digital financial service providers as they achieve their vision. For more information about Coastal Community Bank, Member FDIC, visit www.coastalbank.com.
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