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
SoFi Money® gives you high interest (currently 0.25% Annual Percentage Yield – variable and subject to change), no account fees, ATM fee reimbursement at 55,000+ ATMs worldwide (fee structure is subject to change), and full functionality to spend and pay wherever and whenever you want from our mobile app – all within one simple cash management account. That’s just the start — we’ll soon be releasing joint cash management accounts, savings vaults, and roundups to make SoFi Money even more useful.
◦ 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.
External Websites: The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
SoFi Money is a cash management account, which is a brokerage product, offered by SoFi Securities LLC, member FINRA / SIPC .
Neither SoFi nor its affiliates are a bank.
SoFi has partnered with Allpoint to provide consumers with ATM access at any of the 55,000+ ATMs within the Allpoint network. Consumers will not be charged a fee when using an in-network ATM, however, third party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.