Welcome to our dedicated page for Sofi Technologies news (Ticker: SOFI), a resource for investors and traders seeking the latest updates and insights on Sofi Technologies stock.
SoFi Technologies Inc (SOFI) news hub provides investors and financial professionals with timely updates on this innovative fintech leader. Track official announcements, strategic developments, and market-moving information through our curated repository of press releases and verified news coverage.
This resource centralizes critical updates including quarterly earnings reports, product launches like mobile banking features, partnership announcements with financial networks, and regulatory filings. Investors gain insights into SOFI's evolving position in digital lending, banking technology through Galileo's infrastructure, and competitive moves within the fintech sector.
Discover updates on member growth metrics, new financial product certifications, and technology enhancements that reinforce SOFI's mobile-first approach. Content is rigorously organized to help users efficiently monitor factors influencing the company's market performance and long-term strategy.
Bookmark this page for streamlined access to SOFI's financial communications and industry analysis. Return regularly to stay informed about developments impacting one of fintech's most dynamic public companies.
SoFi (SOFI) has expanded its partnership with Capitalize to streamline 401(k) transfers through the implementation of Capitalize's Embedded Rollover API. This integration enables SoFi members to locate and transfer their legacy 401(k) accounts directly into SoFi Individual Retirement Accounts (IRAs) without leaving the app. The enhanced digital solution addresses a significant market opportunity, with an estimated $1.65 trillion in assets left in 401(k) accounts and nearly $1 trillion rolled over annually.
The partnership aims to modernize the traditionally complex 401(k) rollover process, providing a seamless, digital-first experience for users. Capitalize's rollover technology has already facilitated billions in retirement account transfers, and SoFi joins a growing list of financial institutions utilizing their API to enhance retirement asset services.
SoFi Technologies (NASDAQ: SOFI) announced its participation in the upcoming JP Morgan Global Technology, Media and Communications Conference. CEO Anthony Noto will engage in a fireside chat discussion on May 14, 2025, at 1:40 PM EDT. The session will be available via webcast, with an archived version accessible through the "Events & Presentations" section of SoFi's Investor Relations website at investors.sofi.com.
Galileo Financial Technologies, a subsidiary of SoFi Technologies (NASDAQ: SOFI), has announced a strategic partnership with Mercantil Banco to revolutionize its digital banking services. The collaboration centers on implementing Galileo's Cyberbank Digital platform, which will enable Mercantil Banco to enhance its customer experience and accelerate product innovation for both consumer and corporate clients.
The partnership marks Mercantil Banco as Galileo's fourth client in Panama, strengthening the company's presence in Latin America. The platform offers personalized, mobile-ready services with an adaptable design that allows quick evolution without major system overhauls. This long-term collaboration focuses on developing next-generation banking offerings with emphasis on innovation, personalization, and enhanced customer experience.
SoFi reported strong Q1 2025 results with record-breaking performance across key metrics. The company achieved $772 million in net revenue, up 20% year-over-year, and $71 million in net income. Member base grew 34% to 10.9 million, while total products increased 35% to 15.9 million.
Financial highlights include:
- Fee-based revenue up 67% to $315 million
- Adjusted EBITDA increased 46% to $210 million
- Record 800,000 new members joined in Q1
- Financial Services segment doubled revenue to $303 million
The company's Loan Platform Business secured over $8 billion in new commitments, with $1.6 billion in loans originated for third parties in Q1. Credit performance improved with decreased charge-off rates in personal and student loans. SoFi's deposit base grew to $27.3 billion, with 90% coming from direct deposit members.
SoFi Technologies (NASDAQ: SOFI) has launched SmartStart, a new student loan refinancing option that allows borrowers to pay only interest for the first nine months. This initiative aims to help borrowers manage life transitions while keeping monthly payments low.
The program enables significant payment reductions - for example, a $50,000 loan over 10 years could see over $3,000 in payment reductions during the initial nine-month period. SmartStart offers fixed interest rates and terms up to 20 years.
The launch comes as a Gallup survey revealed 71% of student loan borrowers delayed major life events due to their loans. As of December 2024, SoFi has helped over 534,374 members refinance more than $45.8 billion in student loans. The company's student loan originations reached $1.3 billion in Q4 2024, marking a 71% year-over-year increase.
SoFi (NASDAQ:SOFI) has expanded its alternative investments offering, providing retail investors access to private market funds through its partnership with Templum. Members can now access a new class of the Cosmos Fund with exclusive exposure to Anthropic, along with Pomona Investment Fund and StepStone Private Markets Fund.
A 2024 survey of 5,000 retail investors revealed that over 87% expressed interest in investing in privately held companies, with technology, AI, and healthcare being the top preferred sectors. This expansion follows SoFi's December 2024 launch of access to a separate Cosmos Fund class with SpaceX exposure.
The new investment opportunities are available through the SoFi App's Invest section but are to accredited investors.
SoFi Technologies (NASDAQ: SOFI) has secured a significant expansion of its Loan Platform Business with a total of $3.2 billion in new agreements. The company announced a $2 billion extension of its personal loans agreement with Fortress Investment Group, building upon their original $2 billion agreement from October 2024. Additionally, SoFi signed a two-year agreement to originate $1.2 billion in loans through a joint venture between Fortress and Edge Focus.
The total commitment from Fortress for SoFi's Loan Platform Business has now exceeded $5 billion. This expansion supports SoFi's strategy to transition towards less capital-intensive and more fee-based revenue sources. The Loan Platform Business model involves pre-qualifying borrowers and referring them to loan origination partners, as well as originating loans on behalf of third parties.
SoFi Technologies (NASDAQ: SOFI) has announced its 2025 Annual General Meeting of Stockholders, scheduled for Wednesday, May 28, 2025, at 7:00 a.m. Pacific Time (10:00 a.m. Eastern Time). The meeting will be conducted virtually through www.virtualshareholdermeeting.com/SOFI2025.
Stockholders can participate by using their 16-digit or 12-digit control number provided in proxy materials. The meeting will include a Q&A session, with shareholders able to submit questions both in advance through www.proxyvote.com and during the meeting. The general public can access a live audio webcast through www.investors.sofi.com under Events & Presentations.
SoFi Technologies, the NBA's official bank, announces a promotional campaign during the SoFi NBA Play-In Tournament from April 15-18, 2025. The 'They Shoot, You Score' promotion offers up to $1 million in rewards to celebrate the launch of SoFi Plus, their new premium membership program.
The first 5,000 new SoFi Plus members who sign up between April 10-30, 2025, will receive $10 in reward points for each bank shot made during the tournament, with potential earnings up to $200 per member. Members can join by either opening a SoFi Checking or Savings account with an eligible direct deposit or paying a $10/month subscription fee.
Six-Time NBA All-Star Jayson Tatum partners with SoFi for this initiative, which aligns with the company's mission to help members achieve their financial goals. The promotion coincides with the 2025 NBA Playoffs Play-In Tournament, which determines the seventh and eighth playoff seeds in each conference.
Galileo Financial Technologies, a SoFi Technologies (NASDAQ: SOFI) subsidiary, has launched its Deposit Sweep product, enabling fintech companies to offer enhanced interest earnings and extended FDIC coverage to their customers. The product facilitates automated fund transfers above defined thresholds into high-yield accounts through partnerships with a network of participating banks.
The solution allows fintechs to optimize customer returns while maintaining liquidity, particularly beneficial for accounts exceeding standard FDIC insurance limits. Bluevine, a business banking platform for small businesses, is the pilot client implementing this technology.
Key features include:
- Operational efficiency through automated system integration
- Extended FDIC coverage through multiple participating banks
- Automated fund optimization for higher interest returns
- Regulatory compliance and transparent record-keeping
- Flexible implementation options for fintech clients
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