SoFi is a fintech company and national bank that runs its business on a digital platform spanning data science, risk assessment and mobile-first technology. The firm's original product, launched in 2011, was a peer-to-peer student loan refinancing service that used data science and non-traditional risk assessment to price loans at lower interest rates than conventional lenders. It has since broadened into an all-in-one financial services platform covering banking, personal loans, mortgages, credit cards, investing and cryptocurrency.
Founded by four Stanford Graduate School of Business students - Mike Cagney, Dan Macklin, James Finnigan and Ian Brady - SoFi operates in the United States and serves more than 15.8 million members across six product lines. The company's stated mission is to help members "get their money right" and achieve financial independence, with a particular focus on younger customers underserved by traditional banks. Its stated values are financial products that are fair, transparent and accessible.
Engineering work sits across a digital banking platform, lending and risk systems, investing and crypto services, and mobile-first customer applications, supported by data science applied to underwriting and risk assessment.
