How SoFi's Bank Charter Could Pay Off for Long-Term Investors
An acquisition made in early 2022 reshaped the digital bank's operations.
Overview
SoFi Technologies' (NASDAQ: SOFI) operations were launched more than a decade ago. Back then, the company's sole activity was providing alumni-funded loans to recent grads.
Fast-forward to today, and SoFi has become a full-fledged digital financial services entity. Growth has been exceptional, as the business expanded its product and service offering. This helped to rapidly bring on new members.
Details
In 2022, SoFi obtained a national bank charter that reshaped the company. Here's how this move could pay off for long-term investors.
Source
Originally published at www.fool.com.
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