Latest news with #Coign
Axios
7 hours ago
- Business
- Axios
Conservative credit card company touts fully AI-generated TV ad
Coign, a self-described credit card "built for conservatives," claims to have launched the first fully AI-generated national television commercial, at least in the financial services industry. Why it matters: Hyper-realistic AI videos flooded the internet after the release of Google's Veo 3 tool last month. Now, signs are emerging of a potentially massive disruption to the $250 billion TV advertising industry. Driving the news: The 30-second ad features a series of AI-generated people describing how they'll "spend right today," a nod to Coign's ideological branding. The spot, which was generated using Veo 3, will air for two weeks on Fox News, as well as on X, Facebook and Truth Social. Coign said the ad took just half a day to produce — with a budget less than 1% of a traditional shoot, which would typically involve multiple takes, paid actors, editing, and more. "AI is leveling the playing field between Coign and the big credit card players in customer service, products, fraud detection, and now marketing campaigns," said Coign CEO Rob Collins. "We can serve our audience content they love that is just as good as what the big players produce, all for a fraction of the cost." Between the lines: Coign's ad is a fairly standard product promotion, similar in style to other bank and credit card commercials that regularly air on television. But the ease and low cost of producing the lifelike commercial could portend a tectonic shift for the advertising industry, let alone Hollywood or political campaigns. The big picture: Coign announced earlier this year that it had signed a $250 million debt and equity financing partnership with asset management company Oaktree Capital Management.
New York Post
20-05-2025
- Business
- New York Post
Oaktree Capital investing $250M in parallel-economy credit card Coign
Investment giant Oaktree Capital has struck a $250 million deal with Coign, a conservative-focused credit card company, marking one of the largest institutional investments in the so-called parallel economy, NYNext has learned. The parallel economy has gained traction in recent years as conservatives seek products aligned with their values. While companies like Coign have built a foothold, they've largely lacked recognition from major financial institutions. Oaktree Capital, founded by billionaire Howard Marks, signals that this movement is increasingly attracting even typically apolitical investors. In a statement to investors reviewed by NYNext, Coign announced, 'The $250 million partnership with Oaktree provides a debt facility to scale our super-prime credit card portfolio and launch non-prime cards.' Advertisement Howard Marks, pictured with wife Nancy, started Oaktree Capital — which manages more than $200 billion worth of assets. Clint Spaulding / PatrickMcMulla Chris Gray, Managing Director at Oaktree Capital, added that Coign is 'well positioned to be a significant growth story in fintech.' I called up Coign's founder and CEO Rob Collins to ask about the deal and he said Oaktree's involvement underscores just how significant the American market of 120 million conservatives is. Advertisement According to Coign's materials, conservatives are both the largest and wealthiest affinity groups in the US and thus far they've only been given the option of using credit cards that donate overwhelmingly to liberal causes (the top credit card companies have given more than $2 billion to Democratic causes, according to a report in the Washington Times). 'More and more people are recognizing how well conservative movies and media are doing … that extends to our industry,' Collins said. Conservative products particularly have a strong word-of-mouth element and engender serious loyalty from customers. That is all to Coign's benefit — the card already has tens of thousands of members in every state and a waitlist over 110,000 more as the company builds up capacity. Coign, which uses Visa's payment infrastructure, reportedly donates a small amount to conservative causes on every transaction. Advertisement And perhaps most interestingly, the churn for this credit card is just 2.5% — far lower than the usual 10% companies experience, according to a 2025 survey. Coign, which uses Visa's payment infrastructure, reportedly donates a small amount to conservative causes on every transaction. 'Every purchase benefits conservative causes chosen by cardholders,' according to a company statement. 'Spending Right with Coign funds organizations like Rescue 22, which rescues dogs and trains them as service animals for veterans. With Coign, conservatives are taking back our economy and our country — one dollar at a time.' This story is part of NYNext, an indispensable insider insight into the innovations, moonshots and political chess moves that matter most to NYC's power players (and those who aspire to be). Advertisement Collins also said this is recognition of a broader trend: The growing bifurcation of consumer markets. 'All Americans are looking for products that reflect their values,' he adds. Whether it is liberals ridding themselves of their Teslas or conservatives very loudly boycotting beer from Bud Light, the politicization of products is here to stay. Send NYNext a tip: nynextlydia@
Malaysian Reserve
06-05-2025
- Business
- Malaysian Reserve
CREDIT CARD VETERAN RODNEY YODER JOINS COIGN AS CFO
MCLEAN, Va., May 6, 2025 /PRNewswire/ — Coign, a leading fintech company, is proud to announce the appointment of Rodney Yoder as Chief Financial Officer (CFO). With over three decades of financial leadership in banking, fintech, and high-growth companies, Yoder brings outstanding expertise to Coign's executive team. For more than a decade Yoder held senior leadership roles at Barclays, cultivating deep expertise in global payments, private banking, and credit. He also oversaw forecasting, risk management, and innovation strategies while leading a global finance team of 70 professionals. His earlier positions at Swift Financial and Bank of America/MBNA underscore his ability to build robust financial infrastructures, manage multibillion-dollar portfolios, and drive both cost efficiencies and revenue growth. 'Throughout his career Rodney has be a leader at Fortune 500 financial institutions, offering a unique perspective on credit, markets, and strategic vision,' said Rob Collins, CEO of Coign. 'As we continue to scale and evolve as a fintech platform, his experience navigating complex transformations and delivering results across diverse markets will be incredibly valuable.' 'I'm excited to join Coign at this pivotal moment,' said Rodney Yoder, CFO of Coign. 'The opportunity to shape the company's next chapter of growth—by building strong financial foundations, optimizing capital strategy, and fostering innovation—is exciting. I look forward to collaborating with the leadership team to deliver long-term value for our customers, employees, and investors.' Yoder's career is marked by significant achievements, including spearheading financial planning for large-scale portfolio programs, assembling global finance teams, and developing systems and models that have driven successful audits, strategic transactions, and sustained growth initiatives. Most recently, as CFO of Sunlight Financial, Yoder orchestrated a strategic transformation, guiding the company through its transition from public to private status. He played a pivotal role in evaluating strategic alternatives, securing $90 million in debt and $65 million in equity financing, negotiating loan agreements to enable $2.5 billion in forward flow loan financing, and implementing interest rate hedge programs to mitigate risk. About Coign Coign is the premier fintech platform for conservative Americans, offering credit cards and financial solutions designed to align with their values. Through a leading center-right media strategy, low customer acquisition costs, and a commitment to trust, Coign is building the largest conservative community in U.S. history, uniting millions to strengthen America's foundations. View original content to download multimedia: SOURCE Coign
