SoFi Blog

At SoFi, we think a lot about how we build products to help consumers make good financial decisions. But we thought it’d be interesting to hear how others in the fintech space in San Francisco were considering these questions, too. So earlier today, we hosted a breakfast for members of the press at our new downtown engineering office space in San Francisco to discuss just that along with representatives from Robinhood, Wealthfront, Digit, and Plaid. The panel was moderated by Kristen Berman, co-founder of Irrational Labs with behavioral economist Dan Ariely and co-founder of the Common Cents Lab with Duke University. Here’s a quick recap.

The story behind this epic surprise…

Recently, the SoFi team noticed that SoFi members who had paid off their student loans started celebrating their debt payoff. Popping champagne, baking cakes—the posts were coming in almost daily.

We were so inspired by their triumph over debt we started sending them surprises—sweatshirts, sunglasses, champagne glasses, and so on.

How It Works is an ongoing series here on our blog, exploring and demystifying topics about which we hear often from our members and the public. Today, we’re taking a look at how SoFi makes money.

[UPDATED 10/29/2024 to include additional information on how SoFi Invest makes money.]

At SoFi Invest, our mission is simple: We want to help you make the smartest investment decisions possible so that you can continue on the path to your goals.

That’s why we constantly monitor the market, the economy, and your personal Invest portfolio. Each month we discuss the economy, update our forecasts based on what the market is doing, and every now and then tweak the allocations within our member portfolios. This is one of those times.

Below, we’re sharing the updates we’ve made to all five risk strategies: Conservative, Moderately Conservative, Moderate, Moderately Aggressive, and Aggressive. When it comes to your investments, we always want to be transparent and keep you in the loop about adjustments that we’re making to help your money grow.

How It Works is an ongoing series here on our blog, exploring and demystifying topics about which we hear often from our members and the public. Today, we’re taking a look at how we collect and protect customer data.