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SoFi has expanded its platform to encompass a large array of financial services, and they're growing quickly. The lending segment, which accounts for the bulk of SoFi's business, is under pressure.
NEW YORK, Sept. 16, 2024 (GLOBE NEWSWIRE) -- SoFi, a leading provider of thematic and income ETFs, today announced monthly distributions on the SoFi Enhanced Yield ETF (THTA).
SoFi's strong revenue growth and efficient marketing strategies position it well as a financial one-stop-shop, benefiting from the shift towards digital banking. The expected monetary easing from the Fed and decreasing inflation are bullish catalysts for SoFi, likely spurring loan demand and accelerating growth. SoFi's valuation appears attractive compared to peers like Revolut and traditional banks, suggesting significant upside potential given its disruptive fintech model.
SALT LAKE CITY--(BUSINESS WIRE)-- #Fintech--Galileo Financial Technologies, a leading financial technology company and a subsidiary of SoFi Technologies, Inc. (NASDAQ: SOFI), is delivering fintechs, banks and businesses new ways to fight fraud with the launch of Galileo Instant Verification Engine (GIVE) and Transaction Risk GScore. As digital transactions surge and cyber threats evolve, these tools offer fintechs, financial institutions and businesses advanced real-time fraud detection and risk managemen.
SoFi Technologies, Inc. (NASDAQ:SOFI ) Goldman Sachs Communacopia & Technology Conference 2024 September 9, 2024 2:30 PM ET Company Participants Anthony Noto - CEO Conference Call Participants Michael Ng - Goldman Sachs Group Michael Ng Great. Well, thank you, everybody, for joining.
Given the fall in the SOFI stock, we evaluate its current position to determine whether it presents a good investment opportunity at this time.
Because of its user-friendly app, SoFi has grown its user base rapidly. Management expects earnings to soar in the years ahead.
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SOFI has generated robust dual growth as an online bank and fintech, as observed in the double beat FQ2'24 performance and raised FY2024 guidance. Much of the tailwinds are attributed to the management's growing Financial Services/ Technology Platform segments, with it "on track to finish 2024 with a revenue mix near 50:50." These developments highlight SOFI's ability to generate growth as a well-diversified fintech platform, with the growing cross selling resulting in the much improved productivity loop.