Is PGY quietly building a financial empire

NASDAQ:PGY   Pagaya Technologies Ltd.
Pagaya's machine provides a robust fintech infrastructure:

AI platform deployed to partners >
Resulting in higher loan approval rate for partners >
Pagaya then offers partners to buy loans off their balance sheet (eliminating risk for partners) >
PGY cherry-picks high-quality loans using its AI ability to filter high-quality borrowers >
PGY bundles loans into AA-rated ABS structures and sells them to investors through its investment funds >
Earns fees for ABS sold - 3-4% margin target

Providing a win-win-win situation for every part of the machine.

With the current network volume of 2B$~ Pagaya has generated 378M$ in fee revenues year to date, minus production costs (FRLPC - revenue fees less production cost) translated to 123M$ year to date.
Management has indicated their projection to become profitable already this year.

Is PGY building an empire under the radar as we speak?

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