Figure Technology Solutions vs Polly Capital Markets

What the rubric says

Figure Technology Solutions and Polly Capital Markets are both scored in Secondary & Capital Markets. Figure Technology Solutions carries an overall of 3.6, Polly Capital Markets an overall of 3.3. The widest gap between them is Production impact, at 0.7 of a point. That axis measures whether the tool moves volume, pull-through or cycle time. Figure Technology Solutions takes it, 4 to 3.3.

Where the five axes separate

On Production impact the record favours Figure Technology Solutions, 4 against 3.3. On Integrations and ecosystem the record favours Polly Capital Markets, 3.6 against 3. On Functionality and depth the record favours Figure Technology Solutions, 3.7 against 3.1. On Adoption and support the record favours Polly Capital Markets, 3.6 against 3.3. On Return on spend the record favours Figure Technology Solutions, 3.3 against 3.1.

In Secondary & Capital Markets the rubric weights Production impact heaviest, at 35 percent. That is why the two overalls sit where they do.

How the weights turn axes into a score

Production impact carries 35 percent of the Secondary & Capital Markets score. It measures whether the tool moves volume, pull-through or cycle time. Functionality and depth carries 30 percent of the Secondary & Capital Markets score. It measures whether it handles the messy loans and not just the clean file. Integrations and ecosystem carries 15 percent of the Secondary & Capital Markets score. It measures how well it reaches the rest of the stack. Adoption and support carries 10 percent of the Secondary & Capital Markets score. It measures whether the team adopts it and gets unstuck. Return on spend carries 10 percent of the Secondary & Capital Markets score. It measures what the spend returns, which is not the same as being cheap.

Pricing posture

Figure Technology Solutions does not publish pricing. Its listed model is not published for partners; consumer loan rates are published, platform economics are not. Polly Capital Markets does not publish pricing. Its listed model is quote only, demo-gated.

Deployment and who each one targets

Deployment for Figure Technology Solutions: Cloud platform with a blockchain-native registry and marketplace. Deployment for Polly Capital Markets: Cloud, with bi-directional LOS APIs. Segment focus for Figure Technology Solutions: Home equity originators and institutional credit buyers willing to work on Figure’s blockchain rails. Segment focus for Polly Capital Markets: Lenders wanting a modern loan sale desk without changing hedge advisors. The two entries name different buyers.

What each record credits

Figure Technology Solutions: Company states 200-plus partners use its origination systems, $22 billion-plus financed. Figure Technology Solutions: Nasdaq disclosure under FIGR beats any private vendor here for transparency. Figure Technology Solutions: Origination and secondary sale share one ecosystem, removing handoffs that slow sales. Figure Technology Solutions: DART handles custody and lien perfection natively; Figure Connect provides a standing bid. Polly Capital Markets: Documents a bi-directional Encompass API with automated writebacks on loan data changes. Polly Capital Markets: Names Fannie Mae and Freddie Mac as reachable, plus private buyers like PennyMac. Polly Capital Markets: Code-free rule editor lets a secondary analyst change investor criteria without engineering. Polly Capital Markets: Live TBA benchmarking gives sellers a market reference during volatility.

What each record holds against them

Figure Technology Solutions: Closed ecosystem, with no third-party LOS or hedge advisory integrations named. Figure Technology Solutions: Scope is home equity and adjacent credit, not agency or jumbo first liens. Figure Technology Solutions: No partner-side pricing; the only published rates are consumer HELOC terms. Figure Technology Solutions: Mid-transformation: the Figure Markets merger and announced Kiavi deal keep the perimeter moving. Polly Capital Markets: No hedging: you still pay someone else for pipeline risk management. Polly Capital Markets: No pricing, funding history, investor list or client count is published anywhere. Polly Capital Markets: Named investor connections are few, so buyer network breadth stays unproven. Polly Capital Markets: Encompass is the only LOS named, leaving other systems without a documented path.

Which one fits which shop

Best fit for Figure Technology Solutions: A lender that wants HELOC origination and a ready buyer in the same system. Best fit for Polly Capital Markets: A secondary team drowning in manual bid tape preparation and post-sale commits.

What each entry concludes

Figure Technology Solutions: Figure is an all-or-nothing decision, not a tool you bolt onto an existing stack. Figure Technology Solutions: It is a vertically integrated home equity platform trading on Nasdaq under FIGR. Figure Technology Solutions: It runs its own registry and its own secondary marketplace. Figure Technology Solutions: Partners originate on Figure’s system, lien position lives in DART, and loans move to institutional buyers through. Figure Technology Solutions: The deciding question is whether you adopt Figure’s rails end to end. Polly Capital Markets: Polly’s capital markets offering is a loan trading exchange beside its pricing engine, and its defining choice. Polly Capital Markets: You keep whoever advises your hedge and use Polly for tape creation, best execution, the commit workflow. Polly Capital Markets: The specifics are unusually concrete for this category. Polly Capital Markets: A code-free rule editor, one-click bid tapes, live TBA benchmarking and a documented bi-directional Encompass API all. Polly Capital Markets: Hedge-agnostic also means no hedging, so this cannot be the whole secondary stack.

The short answer

Figure Technology Solutions finishes ahead on the published rubric, 3.6 to 3.3. The margin comes mostly from Production impact. Same rubric, same weights, no sponsorships.