"SoFi Technologies Inc. ( NASDAQ: SOFI) is a digital finance platform that has disrupted traditional banking. The company has transformed the way we handle money through the use of blockchain and artificial intelligence (AI). The platform offers one-stop solutions for money management and has attracted young individuals who are happy to tap and swipe instead of heading to a physical bank branch."
"SoFi's core offering include the money account which works like a savings account. It also offers personal loans, student loan refinancing, and has an investment platform offering stocks, options, ETFs and cryptocurrency trading. SoFi stock is up 96% in the year and over 150% in the past five years. Exchanging hands for $27.82, the stock is nearing all time highs."
"SoFi added a record 905,000 new members in the third quarter, up 35% year over year, taking the total members to 12.6 million. The third quarter marked a highest quarterly increase ever. Product adoption was also up 36% annually to hit a record 18.6 million products. Management projects adding another 3.5 million new members this year, representing a 34% jump from previous year."
SoFi Technologies is a digital finance platform offering a single mobile app with savings-like money accounts, zero-commission stock trading, personal loans, student loan refinancing, mortgage refinancing, and cryptocurrency trading. The company integrates blockchain and artificial intelligence into its services. SoFi added 905,000 new members in the third quarter, growing total members to 12.6 million and product adoption to 18.6 million products. Management projects adding 3.5 million more members this year. SoFi stock has risen about 96% year-to-date and over 150% in five years, trading near all-time highs around $27.82. The company has reentered crypto trading for members with full access planned by year-end, positioning it to compete in digital asset services.
Read at 24/7 Wall St.
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