SoFi Launches Social Network to Attract New Investors
Social networking continues to rapidly grow and add more users amongst the various platforms, such as the big names of Facebook, Instagram, and Snapchat. The challenger bank, SoFi, is trying to be a part of this internet phenomenon trend as well. “The platform lets users follow other SoFi investors’ portfolios, watchlists and investment activity. The platform also lets members message each other and comment on one another’s trades, while including investment performance leaderboards” according to American Banker. In hopes of launching this social network, SoFi is attempting to acquire new investors into their bank. Do you think this new feature will benefit or bust for SoFi?