American financial services company
SoFi Technologies, Inc. (abbreviated as SoFi ) is an American personal finance and fintech company.[ 3] Founded in 2011 at Stanford University ,[ 4] it operates as a direct bank and serves other financial institutions through its technology platform .[ 5] [ 6] [ 7] SoFi reports 8.8mn customers and 158mn platform accounts as of 2024,[ 8] [ 9] and is a leading online lender.[ 10] [ 11]
In its early years, SoFi focused on providing student loans, using data science to assess risk and offer borrowers lower interest rates.[ 12] Over time, the company expanded its offerings to include mortgages, personal loans, auto loans, credit cards, stock investing, insurance, estate planning and bank accounts, ultimately obtaining a U.S. bank charter .[ 5] [ 13] SoFi also made acquisitions and began supporting other financial institutions through its technology platform during this period.[ 6] [ 7] As of 2024, the company has gained recognition as a "one-stop shop" for financial services, noted for its "competitive rates" on savings accounts.[ 14] [ 15] [ 16] Its loan offerings have also been reviewed positively.[ 17] [ 18] [ 19] [ 20]
^ "SoFi Technologies, Inc. 2023 Annual Report (Form 10-K)" . U.S. Securities and Exchange Commission . 27 February 2024.
^ "SoFi Technologies, Inc. Form 10-Q for the quarter ending June 30, 2024" . U.S. Securities and Exchange Commission . 6 August 2024.
^ Gravier, Elizabeth (2024-04-05). "SoFi Invest review: Trade stocks, ETFs, buy fractional shares and participate in IPOs" . cnbc.com . Retrieved 2024-08-18 .
^ Cohan, Peter (2012-04-02). "SoFi's New Take on $1 Trillion Student Loan Market" . Forbes . Retrieved 2024-08-20 .
^ a b Snyder, Kristy (2024-08-31). "SoFi review: earn up to 4.60% APY on free savings accounts" . Fortune . Retrieved 2024-08-31 .
^ a b Shen, Lucinda (2024-06-30). "SoFi shifts its revenue mix" . Axios.com . Retrieved 2024-08-31 .
^ a b Cite error: The named reference :18
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^ PYMNTS (2024-07-30). "SoFi Wants Tech Platform to Be AWS of Financial Services" . PYMNTS.com . Retrieved 2024-08-15 .
^ "SoFi Technologies Reports Net Revenue of $599 Million and Net Income of $17 Million for Q2 2024, Marking Third Consecutive Quarter of GAAP Profitability – Company Announcement - FT.com" . markets.ft.com . Retrieved 2024-08-16 .
^ Irrera, Anna (2017-05-17). "Digital lender SoFi starts U.S. online wealth management service" . Reuters . Retrieved 2024-09-23 .
^ Zinn, Dori (2024-01-01). "Sofi Personal Loans Review 2024" . New Jersey Personal Finance . Retrieved 2024-09-23 .
^ Lashinsky, Adam. "How SoFi Is Beating Banks At Lending" . Fortune . Retrieved 2024-08-19 .
^ Hamilton, Jesse (2022-01-19). "SoFi Rises After Regulator Approves U.S. Bank Charter" . www.bloomberg.com . Retrieved 2024-08-20 .
^ Pendola, Rocco (2024-05-31). "The best brokerage accounts in August 2024" . CNN . Retrieved 2024-08-15 .
^ Gravier, Elizabeth (2024-04-05). "SoFi Invest review: Trade stocks, ETFs, buy fractional shares and participate in IPOs" . CNBC.com . Retrieved 2024-08-20 .
^ Dehan, Andrew; Panzer, Maddie (2024-01-23). "SoFi mortgage review: Low-down-payment options for first-time and repeat homebuyers" . USA TODAY . Retrieved 2024-08-20 .
^ Ullrich, Jess (2023-11-01). "Best personal loans of August 2024" . USA TODAY Blueprint . Retrieved 2024-08-16 .
^ Delfino, Devon; Pentis, Andrew; Lowery, Katie (2024-04-30). "Looking to refinance student loans? Consider the 10 best lenders of 2024" . CNN . Retrieved 2024-09-02 .
^ Horton, Cassidy; Pentis, Andrew; Lowery, Katie (2024-04-19). "The best auto repair loans in 2024: Funds to fix your car" . CNN . Retrieved 2024-09-02 .
^ Suknanan, Jasmin (2024-09-01). "The 5 best mortgage lenders of September 2024" . CNBC . Retrieved 2024-09-02 .