SoFi Technologies, Inc. announced the official launch of SoFi Coach today. This new interactive system delivers personalized financial insights through an AI-powered chat. The rollout begins immediately for SoFi Plus members. The digital application helps individuals track spending, build budgets, save money, and invest smarter. Users manage all these tasks directly within the standard platform ecosystem. SoFi financial planners actively helped build the tool alongside the engineering team.
Anthony Noto, CEO of SoFi, said:
“The formula for getting your money right is simple: spend less than you make and invest the rest. But too many people don’t have the information to do that with confidence. We built SoFi Coach to give more people access to smarter, AI-powered financial tools and the experience of our financial planning team, so our members can reduce debt, make their money work harder, and take the next step toward achieving their ambitions.”
Advanced Financial Tracking
Members securely link accounts from over 12,000 financial institutions through Relay. Relay serves as the core financial management feature for the business. This setup offers users a complete view of their entire monetary picture. The chat tool assists users with complex tracking queries. Members can analyze recurring subscription costs or compare debt payoff choices. Early testing shows incredible user engagement. The utility helped test users take tens of thousands of positive actions. Nearly 70% of those engaged test members improved their overall finances.
Brian Walsh, CFP, PhD and Head of Advice & Planning at SoFi, said:
“Foundational financial support, like understanding what you can spend while still making progress toward your goals, shouldn’t be a luxury. We’re focused on turning moments of uncertainty into clear next steps so members can make smarter decisions, build healthier spending habits, and confidently plan for their future.”
The company currently serves 14.7 million members. Future platform updates will introduce subscription management, expense tracking, and cancellation tools. Additionally, the corporate technology platform Galileo manages 133 million global accounts. SoFi Technologies trades publicly on the NASDAQ under the ticker symbol SOFI.
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News Source: Businesswire.com
