Fintech lender SoFi profit jumps on strong growth in fee‑based businesses

Consumers are shifting high-cost credit-card balances to fintech lenders to take advantage of low-interest personal loans. SoFi’s financial services ⁠business, which includes credit card ‌and investing products, saw revenue surge 78% in the quarter ended December 31 to $456.7 million. Fee-based businesses help insulate fintechs from ‍interest-rate swings.Read More