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This is an old revision of this page, as edited by InfiniteNexus (talk | contribs) at 22:29, 27 November 2023 (→History edits: partly done). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

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Invested or lent?

This phrase is awkward if not grammatically incorrect: " 40 alumni invested an average of $20,000 to 100 students." One does not "invest . . . to" but "invest . . . in." One "loans . . .to." Shouldn't it be changed to standard English usage? — Preceding unsigned comment added by Sterngard (talk • contribs) 00:31, 20 September 2019 (UTC)[reply]

Done, with belated thanks. —173.68.139.31 (talk) 19:24, 31 July 2022 (UTC)[reply]

A Commons file used on this page or its Wikidata item has been nominated for speedy deletion

The following Wikimedia Commons file used on this page or its Wikidata item has been nominated for speedy deletion:

You can see the reason for deletion at the file description page linked above. —Community Tech bot (talk) 16:23, 29 July 2020 (UTC)[reply]

Update Introduction and History sections

Hello. I would like to suggest a few edits to update the page, as follows:

  • In the introduction, please remove the words “and auto.” Refinancing auto loans is done by third-party insurers, and not directly by SoFi, so therefore should not be in the Introduction as one of the main services/products the company offers. Please see the section in this article called “Insurance” for confirmation.
  • In the section 2019-22, please add the following sentence to the end of the second paragraph, but right before the very last sentence:
SoFi started trading under the ticker symbol SOFI on Nasdaq on June 1, 2021.[1][2]
  • In the same section (2019-22) in the third paragraph, please change “allows” to “allowed.” It should be in the past tense.
  • At the end of the same section, please add the following sentence to update the article:
In March 2022, SoFi acquired Technisys, a cloud-based banking system, for $1.1 billion.[3][4][5]
  • Please change the name of the last section, “Insurance” to “Insurance and other third-party products.” Then add the following sentence at the end of the section:
The company also launched SoFi Travel which offers travel benefits through Expedia when using the SoFi credit card.[6][7]

References

  1. ^ Tse, Bloomberg (2 June 2021). "SoFi jumps 12% in Nasdaq debut". Fortune.
  2. ^ Bursztynsky, Jessica (1 June 2021). "SoFi stock closes up more than 12% after debut on Nasdaq". CNBC.
  3. ^ Tom, Groenfeldt (27 February 2022). "SoFi Acquires Technisys, A Digital Cloud-Based Core Banking Platform". Forbes.
  4. ^ Fleischmann, Isabela (22 February 2022). "A New LatAm Unicorn Exit: SoFi Acquires Technisys for Nearly $1.1 Billion". Bloomberg Linea.
  5. ^ "SoFi Makes A Big Gamble On Technisys Acquisition". The Financial Technology Report. 15 March 2022.
  6. ^ Chang, Rachel (24 May 2023). "This New Travel Tool Makes It Easier to Plan the Trip of Your Dreams While Actually Sticking to a Budget". Travel + Leisure.
  7. ^ "Expedia Group to Power New SoFi Travel Site". Breaking Travel News. 2 May 2023.

Thank you. Rachelatsofi (talk) 17:31, 18 October 2023 (UTC)[reply]

Reply 18-OCT-2023

✅  Edit request partially implemented  

  1. Green tickY The word "auto" was removed from the lead.
  2. Green tickY The information concerning the company's Nasdaq symbol was added.
  3. Red XN The information concerning Technisys was not added because the Wikilink for Technisys was not included with the request.
  4. Red XN The information concerning SoFi Travel was not added because it is not independently notable in Wikipedia.

Regards,  Spintendo  22:11, 18 October 2023 (UTC)[reply]

Hello Spintendo. Thanks for your prompt edits. I didn't include a wikilink for Technisys because they don't currently have an article on English Wikipedia. While their notability may be questionable at this time, SoFi's $1.1 billion transaction is certainly noteworthy, as it was covered by numerous prominent publications, including Bloomberg Linea, Forbes, and the The Wall Street Journal. I'm including the WSJ source here as well, as I didn't include it in my initial request. According to WP:NCC, that should certainly be sufficient.
In March 2022, SoFi acquired Technisys, a cloud-based banking system, for $1.1 billion.[1][2][3][4]
  1. ^ Peter, Rudegeair (22 February 2022). "SoFi to Buy Banking-Infrastructure Firm Technisys for About $1.1 Billion". WSJ.
  2. ^ Tom, Groenfeldt (27 February 2022). "SoFi Acquires Technisys, A Digital Cloud-Based Core Banking Platform". Forbes.
  3. ^ Fleischmann, Isabela (22 February 2022). "A New LatAm Unicorn Exit: SoFi Acquires Technisys for Nearly $1.1 Billion". Bloomberg Linea.
  4. ^ "SoFi Makes A Big Gamble On Technisys Acquisition". The Financial Technology Report. 15 March 2022.
Thank you again for your detailed consideration. Rachelatsofi (talk) 14:02, 19 October 2023 (UTC)[reply]

History subheadings

Hi Ptrnext. I noticed that you made a minor change to the sub-headings in the History section. Perhaps you would consider some additional changes to further improve the readability of the article. I would like to propose descriptive titles for each sub-head to go along with the years, as well as a small change to the way the years are divided to fit better with the milestones in the company’s history.

  • Add the title “Early years” next to “2011 – 13”
  • Change “2014 – 18” to “2014 – 17” and add the title “Expansion” to the new time span.
  • Change “2019 – 23” to “2018 – 23” and add the title “Noto becomes CEO and further expansion”
  • The new subheading called “Noto becomes CEO and further expansion:2018 – 23" now needs to be placed directly below the paragraph that begins “On September 11, 2017…” and directly above the following paragraph that begins “Announced January 23, 2018…”

Thanks so much for considering this change. Rachelatsofi (talk) 23:05, 24 October 2023 (UTC)[reply]

Hi Rachelatsofi, I think the subheadings should be a bit more balanced so that it doesn't ignore/minimize other due contents in that subsection. I've included "challenges" to the second subheading to cover the scandal and FTC charge. Also I believe the Fintech sector as such struggled in 2016, but it is not covered here[1]. For the third subheading, "Noto becomes CEO" part seems undue with the existing contents in that subsection. The subheading changes that I've put in could also be improved, but hope it works for now. Ptrnext (talk) 08:30, 2 November 2023 (UTC)[reply]

History edits

Hi Ptrnext. Thank you for the new headings. I think they look great, and at least for now, your more descriptive titles seem fine. I have a few more requests for edits to the page, as follows:

  • In the 2019-2023 section, please change the last sentence in the paragraph that begins "In January 2022…" I would like to replace the last sentence there, which is not sourced, with a slightly expanded version with sources to add clarity, information and context. Please replace "The previous bank charter application was abandoned with this purchase." To:
SoFi completed the process of obtaining the bank charter and became a nationally chartered bank as of 2 February 2022.[1][2]
  • Please add the following sentence right after the above sentence about the bank charter:
In March 2022, SoFi acquired Technisys, a cloud-based banking system, for $1.1 billion.[3][4]
  • Please add the following sentences to the end of the History section:
In March 2023, SoFi was named to Fast Company’s annual list of the World’s Most Innovative Companies.[5]
In April 2023, SoFi announced it had acquired Wyndham Capital Mortgage in an all-cash deal.[6][7]
By March 31, 2023, SoFi reached over $10B in total deposits.[8][9]
In August 2023, SoFi was named to CNBC’s list of the World’s Top Fintech Companies.[10]

References

  1. ^ Bennett, Alison; Melican, Nathaniel (8 February 2022). "SoFi's national bank charter widens door for fintechs". S&P Global.
  2. ^ Hamilton, Jesse (19 January 2022). "SoFi Rises After Regulator Approves U.S. Bank Charter". Bloomberg.
  3. ^ Groenfeldt, Tom. "SoFi Acquires Technisys, A Digital Cloud-Based Core Banking Platform". Forbes.
  4. ^ "SoFi Makes A Big Gamble On Technisys Acquisition". The Financial Technology Report. 15 March 2022.
  5. ^ Harris, Ainsley (2 March 2023). "The 10 most innovative companies in personal finance of 2023". Fast Company.
  6. ^ "SoFi Buys Wyndham for Mortgage Loans". Pymnts. 3 April 2023.
  7. ^ "SoFi Technologies acquires Wyndham Capital Mortgage to scale mortgage growth". Fintech Global. 11 April 2023.
  8. ^ Dattilo, Emily (12 May 2023). "SoFi Gains a Bull. Analyst Calls It 'The Future of U.S. Banking.'". Barron's.
  9. ^ Smith, Paige (30 June 2023). "SoFi Once Billed Itself as the Anti-Bank. Now It's Going Mainstream". Bloomberg.
  10. ^ Browne, Ryan (2 August 2023). "From banking giants to lending up-and-comers — here are the world's top 200 fintech companies". CNBC.com.

Thanks again, Rachelatsofi (talk) 01:20, 9 November 2023 (UTC)[reply]

 Partly done. In particular, the "In January 2022..." paragraph already states SoFi received approval from the Office of the Comptroller of the Currency (OCC) for a national bank charter. InfiniteNexus (talk) 22:29, 27 November 2023 (UTC)[reply]
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