SoFi

SoFi to go public via SPAC with $8.7B valuation

01/07/21

The deal between San Francisco-based lender and Social Capital Hedosophia Holdings Corp. V is latest example of a closely held firm going public by merging with a special purpose acquisition company.

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Mike Cagney’s fintech startup pursues bank charter

11/06/20

Figure Technolgies, the home equity lender founded by the former CEO of SoFi, is seeking a national bank charter so it can offer more products and services while reducing the need for state-by-state licenses.

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SoFi gets preliminary OK on bank charter, launches credit card

10/28/20

Both developments are part of the company’s strategy of becoming a full-service bank for its young, affluent customer base.

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SoFi launches social network for investors

10/14/20

Clients of the challenger bank's robo-adviser are able to see one another's trades, add comments and watch a leaderboard of top investors.

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Mike Cagney launches blockchain for loan trading. Will banks go for it?

08/25/20

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

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Fintech shakeout, Main Street loan quandary, PNC diversifies leadership: Top stories of the week

07/11/20

New president of Promontory Interfinancial Network says recession will cause "hundreds" of nonbank disruptors to fail; lenders face dilemma over offering Main Street loans to noncustomers; PNC Financial expands, diversifies executive leadership team; and more from this week’s most-read stories.

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SoFi applies to open a national bank

07/09/20

If it’s approved, the charter is expected to lower the fintech’s cost of funds and allow for more product offerings. It comes nearly three years after SoFi pulled the plug on an earlier effort to open an industrial bank.

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Why Samsung is following Apple, Google into consumer banking

05/11/20

In announcing its plan to offer a deposit account and debit card in partnership with SoFi, the mobile phone maker suggested that the coronavirus pandemic will accelerate consumers’ adoption of contactless payments.

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SoFi to buy payments firm Galileo for $1.2 billion

04/07/20

The acquisition would give SoFi control of a technology platform that is currently used by some of its competitors in digital banking.

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Online lenders seek to balance the needs of borrowers, investors

03/26/20

While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.

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