SoFi Grows Deposits and Fees as Members Add Products
By PYMNTS
AI summary of the source article
SoFi added a record number of members and products in the third quarter, driving revenue up 44%. The digital finance company reported momentum in its financial services business despite unanticipated interest rate movements.
Key facts
- SoFi added a record number of members and products in the third quarter.
- Third-quarter revenue increased by 44%.
- Growth occurred despite interest rates moving in an unanticipated direction.
Source excerpt · PYMNTS
SoFi’s financial services business is gaining momentum even as interest rates move in a direction the company didn’t anticipate, according to the company’s third-quarter earnings call Tuesday (Oct. 27). The digital finance company added a record number of members and products in the third quarter, helping drive revenue up 44% and giving management enough confidence […] The post SoFi Grows Deposits…