SoFi Technologies, Inc. (SOFI) Management Presents at Goldman Sachs Communacopia + Technology Conference (Transcript)

SoFi Technologies, Inc. (NASDAQ:SOFI) Goldman Sachs Communacopia + Technology Conference Transcript September 6, 2023 4:05 PM ET


Anthony Noto – Chief Executive Officer


Mike Ng – Goldman Sachs

Mike Ng

How are you doing?

Anthony Noto

Good. You?

Mike Ng

Good. Excellent. Well, we will go ahead and get started. Welcome to the SoFi presentation at the Goldman Sachs Communacopia and Technology Conference. I have the privilege of introducing Anthony Noto, CEO of SoFi since 2018. Anthony joined SoFi after serving as CFO and COO of Twitter. He was also the Co-Head of Global TMT Banking at Goldman Sachs and the CFO for the NFL.

My name is Mike Ng and I cover SoFi and fintech here at Goldman. We have about 35 minutes for today’s presentation inclusive of Q&A. So if you have a question, please raise your hand towards the end of the session and we will go ahead and get a mic run over to you.

First, thank you, Anthony, for making the time and coming out to be here with us today. Really appreciate it.

Anthony Noto

Thank you for having me.

Question-and-Answer Session

Q – Mike Ng

Great. So since obtaining a bank charter in February of 2021, SoFi’s steadily executed on its bank strategy with deposits of nearly $13 billion, leading to overall funding costs being lowered, increased lending capacity, improvements in NII, a more stable funding model. So to start things off, could you just give a little bit of background on the evolution of the SoFi platform from a student lending platform to a financial services one-stop shop that it is today and a tech platform. In success, what does SoFi ultimately look like?

Anthony Noto

Sure. When I was talking to the Board about potentially coming on as CEO, I had

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