SoFi is So Ready for 2019
Earlier today, we invited a small group of reporters to chat with our CEO Anthony Noto about what we accomplished in 2018 and what we have in store for 2019. We thought you might be interested to hear what he had to say, too!
Some of the things we achieved in 2018 that we’re most proud of:
• The SoFi community surpassed 600,000 members!
• We welcomed 12 new leaders across the company, including CEO Anthony Noto and CFO Michelle Gill.
• Our lending businesses surpassed $30 billion in total volume.
• We released three new products to existing SoFi members, including SoFi Money™, an alpha version of SoFi Invest, and a beta version of our digital advice product. All three are now available in open access.
• We conducted almost 7,000 career coaching sessions through our partnership with Korn Ferry, helped over 1,000 members find new jobs, and hosted 250 events with over 17,000 people, including our annual Get That Raise campaign.
• We continued to be a leader in the capital markets, hitting AAA ratings on both our personal and student loan securitizations.
So, What’s Next?
A lot. You might know us as a lender, but we’re so much more now. We want to help you Borrow, Save, Spend, Invest, and Protect your money—easier and faster than ever.
◦ We’ve reduced the time it takes between getting approval for your Personal Loan and funding your loan by nearly half – now it takes as little as 3 days from approval to funding!
◦ We’re revamping our Home Loans offering next month, with as little as 10% down together with a simplified, fast process.
◦ We’ll also be offering SoFi private student loans to undergraduate and graduate students for the first time this year! More to come on this later in the Spring.
Save & Spend
◦ Most banks give you effectively no interest and charge high fees. May we recommend the opposite? SoFi Money, now available to the general public, gives you high interest (currently 1.80% APY), no account fees, unlimited ATM fee reimbursements worldwide, and full functionality to spend and pay wherever and whenever you want from our mobile app – all within one simple account. That’s just the start — we’ll soon be releasing joint accounts, savings vaults, and roundups to make SoFi Money even more useful.
◦ You also may have seen our digital advice product in your home screen – a money and goals management tool that is designed to help you see all of your finances in one place, track spending, as well as set and make progress on your financial goals.
◦ A lot of people think you have to be an expert to trade stocks. SoFi Invest debunks that myth, allowing you to Invest for free: no commissions, no SoFi management fees. Buy your very first stock with Active Investing or set it and forget it with a recurring deposit in your Automated Investing account (or maybe do a little bit of both! New year, new you).
◦ We’ll be rolling out a ton of new features over the next few months including SoFi-sponsored ETFs (learn more here), crypto trading, and amping up educational content around the experience to make sure we’re with you every step of getting your money right!
◦ In addition to our partnership for life insurance with Ladder, we’re happy to share that we’ll be expanding our insurance offerings into new areas soon, too. Stay tuned!
We’re very excited for what 2019 will bring, and we’re as grateful as ever that you’re here with us! Always feel free to drop us a line with any feedback.
Neither SoFi nor its affiliates is a bank.
SoFi MoneyTM is offered through SoFi Securities LLC, member FINRA /SIPC .
“SoFi Invest” refers to two investment and trading platforms operated by Social Finance, Inc. and affiliates. Automated investing is owned by SoFi Wealth LLC, SEC Registered Investment Advisor. Brokerage services provided by SoFi Securities LLC, registered broker dealer and member
FINRA /SIPC .