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Dpope32 t1_ja1ocqb wrote

Reply to comment by DYTTIGAF in Why SoFi is Poised to Take Over the Fintech Industry: An In-Depth Analysis by [deleted]

Really need to focus on profit margin going forward, I agree. You’d think being a tech based company they’d find a way to keep costs low. Only time will tell

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DYTTIGAF t1_ja1ph7h wrote

I have "been their and done that"...with one of the largest mortgage companies in the country 2 decades ago.

Technology can only go so far in shaving costs and delivering a "financial product line" to scale. If your models are bad the more you scale...the more money you lose. Ironically.

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smokinjoe569 t1_ja2javl wrote

They are tech based on that they don't have branches but they're still a financial institution. Getting deposits has a cost with it and their loan portfolio isn't really geared towards a higher rate environment.

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