The company missed revenue projections, and it's trying to tap other funding strategies amid a "difficult lending environment."

The San Carlos, California, consumer lender said it's "exploring strategic options" for its credit card portfolio, discontinuing its investment and retirement products and sunsetting a partnership with Sezzle in addition to embarking on a new round of job cuts.

The neobank is also benefiting from its product diversity.

Despite ESG headwinds in Florida, Climate First Bank in St. Petersburg continues to make "green" loans and plans to show consumers how their purchases affect the environment.

Experts and industry leaders said banks are pumping investment into technology that can connect information silos.

High interest rates could dampen demand for refinancing, which took a hit during the pandemic-era pause in federal student loan payments. "Curb your enthusiasm," one analyst said.

The neobank expects to turn a profit by the end of the year, but faces challenges as it copes with the government's pause on federal student loan repayment and with the difficulty of selling technology services to other businesses.

As the Wall Street giant continues to scale back its consumer banking ambitions, the point-of-sale loan provider that it purchased in 2022 could be the latest target. And CEO David Solomon said there might be more moves ahead.

A pullback by the buyers of Upstart's consumer loans led to a "challenging year," CEO Dave Girouard told analysts. But he added that the company is in "late-stage discussions" with partners that are looking to make longer-term commitments.

The fintech is also relying more heavily on its bank charter as rising interest rates make selling loans to investors more challenging.