Is SoFi a Millionaire Maker?
Since its founding in 2011, SoFi Technologies (NASDAQ: SOFI) has rapidly burst onto the scene to become a budding financial services provider. The tech-enabled banking platform continues to grow at a healthy pace, and it's turning the corner financially. But shares remain well off their record high.
Can this fintech stock become a millionaire maker? Here's what investors with those expectations need to know about SoFi's prospects.
SoFi is a financial services provider, but it doesn't own or operate any physical bank branches. Instead, various offerings, like bank accounts, loans, credit cards, and insurance products are all offered via the company's mobile app. SoFi has positioned itself to succeed in a hyper-competitive banking industry. It focuses on leveraging the popularity of smartphones and the internet to provide a superior user experience in a market that's not known for that.
Source Fool.com
