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. (NASDAQ: SOFI) is frequently in the news as a digital financial services company that describes itself as a one-stop shop for borrowing, saving, spending, investing, and protecting money in a single app. News about SoFi often highlights its product launches, technology initiatives, capital markets activity, and partnerships that expand access to financial services.
On this page, readers can follow coverage of SoFi’s announcements across consumer banking, lending, investing, and crypto. Recent press releases have described the launch of SoFi Crypto, which allows members to buy, sell, and hold cryptocurrencies through SoFi Bank, N.A., and the introduction of SoFiUSD, a fully reserved U.S. dollar stablecoin issued by SoFi Bank, N.A. News has also covered the SoFi Smart Card, an all-in-one account that combines elements of checking, savings, debit, and credit products, as well as new employee benefits that support early investing for employees’ children.
Investors can also track SoFi’s capital markets updates, including underwritten public offerings of common stock and related use-of-proceeds disclosures, along with Form 8-K items that report quarterly financial results. Other news items highlight SoFi’s role in alternative investments through partnerships such as the Cashmere Fund and its collaboration with Templum to provide access to private company investment opportunities.
By reviewing the news feed for SOFI, users can see how SoFi communicates about its mission to help people achieve financial independence, its expansion into crypto and stablecoin infrastructure, and the evolution of its technology platform Galileo. Bookmark this page to monitor ongoing developments, product announcements, and regulatory and capital markets disclosures that the company releases through official channels.
Galileo Financial Technologies, a SoFi Technologies (NASDAQ: SOFI) subsidiary, has launched Galileo Payment Method Switch, powered by Atomic. This new solution enables banks, fintechs, and brands to help customers easily update their default payment methods across merchants, subscriptions, and utilities from within their apps.
The solution aims to streamline payment management as global recurring payments are projected to reach $15.4 trillion by 2027. According to Atomic data, users typically switch 3-5 payments during their first visit, linking approximately $420 in recurring monthly spend. The integration helps financial institutions increase customer engagement and generate recurring revenue through interchange fees while providing users with a seamless payment management experience.
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.
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