SoFi adds social investing features to SoFi Invest

By Pavithra R

SoFi, the digital personal finance company has announced the launch of its social trading and investing features within SoFi Invest, an all-in-one, easy to use investing platform.

SoFi Invest offers various capabilities such as the ability to follow friends, family, and other SoFi members on their investing journeys, all within the full SoFi experience.

The platform’s new capabilities are available to all SoFi Active Investing members and include the ability to share their investment portfolios with exact dollar amounts hidden and discover and follow the holdings, watchlists, and activity of members who have opted into the feature.

Members also have the provision for commenting and reacting to the trades of investors they follow and see how they stack up against the market and other investors via a dynamic leaderboard.

“According to SoFi’s research, about 70% of SoFi Invest member respondents indicated that they regularly (at least weekly) discuss their investments with family members, peers, or colleagues. Our new social investing features not only help us live up to our name of Social Finance, but provide ways for investors to see specifically what members on the platform are doing with their investment decisions, discover new investment ideas, and see how they stack up in their investing performance. Given the importance of investing early and consistently, we are thrilled to be able to provide a more informative, engaging, interactive mobile investing experience rooted in building better investing habits,” said Anthony Noto, CEO of SoFi.

Founded in 2011, SoFi is a values-driven company that helps people achieve financial independence to realize their ambitions. The FinTech creates modern financial products and services that help people borrow, save, spend, invest, and protect their money better.