SoFi is a digital finance company that allows its members to utilize different tools for borrowing, saving, spending, investing and protecting money. Perhaps its most unique product is the SoFi Money cash management account, which it released in 2019. The account offers no account fees, high-yielding interest, ATM fee reimbursements, mobile check deposit, and P2P (peer to peer) transactions, among other digital tools. Recently, SoFi partnered with Mastercard to begin offering new, top-of-the-line products and technology for SoFi members. Their partnership will begin by focusing on the SoFi Money debit card, which Mastercard will be the exclusive card network. The debit card will provide additional benefits like cashback rewards, free cell phone insurance and discounted airport concierge services. Anthony Noto, CEO of SoFi, says “[SoFi’s] mission . . . is to help our members achieve financial independence to realize their ambitions. . . . [We] must build products and services that help our members Get Their Money Right.”
