$SOFI Says 85% of Its Products Are Now Non-Lending

$SOFI continues to move beyond its origins as a lending-focused business.
CEO Anthony Noto says roughly 85% of the company’s products are now non-lending.
That shift is important because the market has historically valued $SOFI more like a lender, where growth and profitability can be heavily tied to credit cycles and interest rates.
A broader product mix across banking, investing, payments and other financial services could support a different valuation framework over time.
If more revenue and customer engagement come from non-lending products, investors may increasingly view $SOFI as a diversified financial platform rather than a traditional lending business.
That re-rating potential is one of the key long-term pieces of the $SOFI bull case.