According to the WSJ, SoFi’s head of banking Arkadi Kuhlmann and general manager of asset management Peter Early, are both leaving the firm. The personnel move has to do with the fact that SoFi is no longer pursuing a bank charter while also pulling back on its plans for its asset management business. It has […]View Post
The SoFi story is slowly unraveling from a handful of unhappy employees seeking relief through the courts to a full-on Silicon Valley frat house anything-goes sexcapade scandal. If you haven’t been following along, below are links to help you catch up on how the story has unfolded: 8/11 – NY Times – Another Silicon Valley […]View Post
SoFi’s long slow grind towards an IPO is coming to a screeching halt. Mike Cagney, SoFi’s CEO, is reportedly stepping down as chairman effective immediately and will be resigning from his CEO position later in the year. The hope is that this will relieve outside distractions such as pending lawsuits, the WSJ and NY Times […]
That awkward moment when you apply for a bank charter (::cough:: SoFi ::cough::) and you realize your company’s motto has literally been #dontbank all along… The above is actually from a video they made about how much banks suck. Just, don't do it. #DontBank pic.twitter.com/lnxKJHH3QJ — SoFi (@SoFi) February 11, 2016 This is the beginning […]
Tesla has autopilot. Apple has Siri. And Upstart has its own high-tech software model that places the startup in a category of its own for online lending. All three of these companies may be very different but what they have in common is a reliance on artificial intelligence and machine learning for their proprietary technology. […]
The partnership was an one up for private student lending especially against growing private entrants like SoFi and Commonbond. What it being undone, what’s next?
The bank also misled borrowers on partial payments, increasing in the cost of the loan.