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SoFi
Social Finance Inc. (known as SoFi) is an American online personal finance company that provides student loan refinancing, mortgages and personal loans. It is an underwriting approach focused on lending to financially responsible individuals.
Ripple, Second Stimulus Bill, Checkout Features Top This Week’s News
January 8, 2021
In this week’s news, we saw more rules and breaks for Paycheck Protection Program (PPP) loans in a second stimulus bill, a suit against Ripple Labs and new data on key ...SoFi-Social Capital Merger Will Fuel Growth Of One-Stop-Shop Financial Supermarket
January 7, 2021
Online FinTech startup SoFi announced Thursday (Jan. 7) that it was merging with publicly-traded Social Capital in an $8.6 billion deal that brings it instant liquidity and avoids the uncertainty of ...Financial Services Platform SoFi Plans IPO Via SPAC
January 7, 2021
Silicon Valley startup Social Finance (SoFi) is closing a merger deal with blank-check firm Social Capital Hedosophia Holdings Corp. V to file an initial public offering (IPO).
“SoFi is on a ...DoorDash, Airbnb IPOs; BNPL Trends; Pet Fraud Top This Week's News
December 11, 2020
In this week’s news, we saw two blockbuster IPOs, arguments and stalemates over a new stimulus bill, and new data on consumers’ digital shopping trends. The Weekender is here to ...Today In Payments: Stimulus, Vaccine Key To Full Recovery By End Of 2021; Chinese Watchdog Warns More Big Tech Rules Looming
December 8, 2020
In today’s top news, economists expect the economy to recover back to pre-pandemic levels by the end of 2021, and China’s banking watchdog warns of further Big Tech regulations. Plus, ...Report: Digital Lender SoFi Eyes IPO Via SPAC
December 7, 2020
Social Finance (SoFi), a San Francisco-based online lending startup, is holding talks about selling to a blank-check acquisition company, Reuters reported, to help it debut on the stock market.
The news ...Personal Loan Apps Show Resilience In Latest Provider Ranking
October 30, 2020
Maybe it’s a byproduct of that which shall not be named — by which we mean the pandemic — but PYMNTS’ Provider Rankings have been remarkably calm and unwavering throughout ...Samsung, SoFi, Mastercard Launch Cash Management Platform
July 23, 2020
Samsung Electronics America Inc. has announced that U.S. consumers can sign up for its mobile money management platform starting on Thursday (July 23).
Tagged Samsung Money by SoFi, the platform was launched ...SoFi User Base Triples Since January
July 15, 2020
SoFi’s daily trading volumes have surged as of the beginning of this year, while its user base has dramatically risen, SoFi CEO Anthony Noto said in a televised interview. The ...Today In Payments: Google Reports Resurgence In Pandemic Hacking; Tech Cos Make M&A Deals
May 28, 2020
In today’s top news, Google reported a resurgence of hacking and phishing attempts in April, and tech companies are making deals at their fastest pace since 2015. Plus, Samsung and ...SoFi Sees Investor Accounts Double Thanks To Fractional Shares
May 27, 2020
The CEO of SoFi, the digital personal finance company based in San Francisco, said its investor accounts have doubled this year, mostly due to fractional shares.
CEO Anthony Noto told CNBC’s “Squawk on the ...SoFi Powers Samsung Pay Mobile Banking Services
May 27, 2020
To help users manage everyday finances, Samsung Electronics America, Inc. has announced a new mobile-focused money management experience called Samsung Money by SoFi. The technology company said the account is secure and offers ...Personal Loan Apps Spike In Latest Provider Rankings
May 20, 2020
Personal loan apps are getting lots of attention during this time of incomprehensible financial doubt. Consumers are downloading and using these apps more now, and they’re still deciding on their ...Samsung Pay Launches Debit Card, Money Management
May 8, 2020
Samsung Pay is launching a physical debit card and this summer will introduce a money management tool in partnership with SoFi.
“Now more than ever, people are counting on technology to ...SoFi Buys Hong Kong ‘Automated Investing’ Platform
April 21, 2020
The FinTech company SoFi is making its first leap to go global with a big move into Hong Kong. The opening of a Hong Kong outpost is part of SoFi’s ...SoFi Spends $1.2B To Buy FinTech Galileo
April 7, 2020
In a deal valued at over a $1 billion, SoFi said it has inked a definitive deal to buy Galileo Financial Technologies. The online personal finance firm will pay total ...Amazon Delivery Exec Leaves For FinTech SoFi
March 12, 2020
Amazon’s VP of Delivery Experience Maria Renz is quitting the firm after more than 20 years and is heading over to digital lender Social Finance (SoFi), The Wall Street Journal ...Personal Loan Apps Banking On Features
March 3, 2020
Unsecured lending is the theme of this week’s PYMNTS Provider Ranking of Personal Loan Apps, which looks at this fascinating space with fresh eyes to reveal the trends. Personal loans ...Data Dive, New Offerings Edition: Square, FICO And Mastercard
January 27, 2020
With so much happening on the world stage between Davos and the Lunar New Year, headlines in the U.S. last week might have run the risk of fading into the ...Sizzle Fizzle: Virus May Weaken China’s Economic Growth
January 24, 2020
It’s the unforeseen events that send economies into rough patches, toward slowing growth and even into decline.
And while we’re not speculating that an economy that grows 6 percent a year should ...Mastercard, SoFi Team Up On Debit Card, Payment Products
January 23, 2020Mastercard and digital personal finance company SoFi have teamed up on a suite of products and experiences to benefit SoFi’s nearly one million customers, the companies announced in a release.
The ...Top News In Payments: Millennials Spend Big On Black Friday; Goldman Investor Day To Focus On Growth Strategy
December 2, 2019
In today’s top payments news, millennials — as well as bridge millennials — were big Black Friday spenders this year. Also, Goldman Sachs’ first-ever Investor Day planned for Jan. 29 ...SoFi Founder Mike Cagney Notches Near-$103M For New FinTech
December 2, 2019
Silicon Valley’s Figure Technologies, co-founded by SoFi Founder Mike Cagney, has raised $103 million in a Series C funding round, reports said on Sunday (Dec. 1).
Cagney co-founded Figure Technologies with ...SoFi Signs Deal For LA Stadium Naming Rights
September 15, 2019
SoFi has announced that it has signed a 20-year agreement with LA Stadium and Entertainment District at Hollywood Park to be the exclusive naming rights partner of the new SoFi ...Data Dive, Farewells Edition: Apple, Chase, SoFi, Uber
June 10, 2019
There were plenty of introductions last week. Stripe rolled out chargeback protection, Apple rolled out its take on sign-in authentication, Mastercard launched an open banking platform and Visa and Western Union paired on a global push ...SoFi Loses Three Top Execs
June 5, 2019
Social Finance, the online lender that goes by SoFi, was dealt another blow after three top executives said they are gearing up to leave the company.
The Wall Street Journal reported ...SoFi Raises $500M, Valuation Remains $4.3B
May 29, 2019
Social Finance (SoFi), a personal finance company, has raised half a billion dollars in a funding round led by Qatar, according to a report by CNBC.
The company said it will ...SoFi Introduces Index Fund Aimed At Gig Economy
May 8, 2019
San Francisco-based FinTech startup SoFi, known as a company that deals with student debt, has been steadily expanding into other markets, like home and personal loans, among other things.
On Wednesday ...Bitcoin Daily: Ex-SoFi Head Pairs Blockchain With Lending; Fidelity Trials Bitcoin ‘Lightning’ Payments
February 28, 2019
The Lightning Network, a bitcoin experiment that allows users to quickly transfer funds around the world without a third party, has completed another transaction. According to CoinDesk, the latest to ...Bitcoin Daily: SoFi, Coinbase Pair On Crypto Trading; Samsung Reveals Blockchain Partners
February 27, 2019
A group of oil and gas companies have announced a partnership that will create the first blockchain industry consortium in the U.S.
“Creating the OOC Oil and Gas Blockchain Consortium is a ...Online Lender SoFi Debuts Two Free ETFs
February 26, 2019
Online lender Social Finance (SoFi) is launching two free exchange-traded funds (ETFs). Citing regulatory filings, Bloomberg reported that the funds — set to waive management charges for at least the ...FTC Settles With SoFi
February 25, 2019
The Federal Trade Commission announced it has resolved its investigation of online lender SoFi, following a public comment period.
According to an FTC press release, the government agency has approved a ...Online Lender SoFi Sees $12M Loss In Q3
November 12, 2018Online lender Social Finance (SoFi) continues to struggle, recording an adjusted loss of around $12 million during the third quarter before interest, taxes, depreciation and amortization. The FinTech company has now recorded ...SoFi Settles With FTC Over Claims Of Deceptive Advertising
October 30, 2018
The Federal Trade Commission (FTC) announced that online student loan refinancer Social Finance (SoFi) has agreed to stop misrepresenting how much money it can save student loan borrowers.
The agreement settles ...Mike Cagney’s Figure Launches Blockchain-Powered Online Home Equity Loans
October 10, 2018
Mike Cagney first made his name in financial services as the founder and CEO of SoFi, an alternative credit startup that got its start re-refinancing student loans for graduates of ...SoFi Eyes $1B Credit Line, Post Q2 Loss
August 17, 2018Student loan refinancing company Social Finance (SoFi) is looking for a loan of its own: The company is in talks with banks to secure a revolving credit line of as ...SoFi Posts $200M Loss
August 7, 2018Despite posting a second-quarter adjusted loss of about $200 million, Social Finance Inc. (SoFi) says it should be profitable again by the end of the year.
A source revealed that the ...SoFi Talking To Banks About $500M Line Of Credit For Buys
July 3, 2018Social Finance, the online lender, has been holding talks with banks during the past few weeks in an effort to raise around $500 million in an unsecured line of credit ...Why Digital Lenders Are Tightening Their Lending Criteria
June 12, 2018
In the early days of online lending, the big appeal was access to funds for potential borrowers with few, if any, options for securing capital.
Now, the tech-driven underwriting models that ...SoFi's New Direction
May 16, 2018It’s been a full year for SoFi, as the personal finance company attempts to get back on track after a 2017 that was, at best, tumultuous. In his first letter to ...