SoFi Rides AI, Blockchain Wave as FinTech Fires on All Cylinders

FinTechs are maturing, evolving and consolidating, creating new growth opportunities.

While headlines can often spotlight layoffs and down rounds, SoFi’s second-quarter 2025 earnings call Tuesday (July 29) saw executives share a different story with investors, one not only showcasing a company firing on all cylinders, but also serving as a potential bellwether for the broader direction of digital finance.

A record 850,000 new members joined SoFi in the quarter, up 34% from the prior year to 11.7 million, according to an earnings press release. The company also added a record 1.26 million new products, up 34% from the prior year, to 17.1 million products.

“We had an exceptional second quarter, driving durable growth and strong returns through our relentless focus on product innovation and brand building,” SoFi CEO Anthony Noto said in the release. “We accelerated adjusted net revenue growth to 44% year over year, the highest level in over two years, driven by record high new members, as well as new products, and an increase in fee-based revenue… Looking forward, we are focusing on innovating faster than ever before to serve more of our members’ needs and increasing our financial guidance for 2025.”

Once known simply for student loan refinancing, SoFi has focused on transitioning into a digitally native financial services player, pursuing the ambition to be a “one-stop shop” for its members, per the release. It could signal an emerging recalibration of what it means to be a financial institution in a post-bank branch world.

“We are not just a bank, and not just a tech company — we’re a little bit of both,” Noto told investors during the call.

The company’s share price was up double-digits on the back of the earnings results.

Read also: SoFi Brings Financial Wellness to the Small Business Workplace

While traditional banks tiptoe around blockchain, SoFi is sprinting into the space. This year, it will launch blockchain-powered international money transfers — self-serve, 24/7 and completed in under a minute. Think Western Union meets decentralized finance (DeFi).

SoFi is also reentering cryptocurrency trading, a service it previously paused amid regulatory headwinds. Now, with a federal bank license in hand and new regulations under the GENIUS Act opening the door, SoFi said it has a structural advantage over pure-play crypto platforms.

During the call, Noto teased plans including stablecoin issuance, crypto-backed loans and staking infrastructure for other financial institutions. SoFi is already staffing up with engineering talent and positioning itself as a key player in financial Web3.

AI is another frontier. The company has rolled out machine learning tools to automate dispute resolutions, detect fraud and launch “Cash Coach,” an AI advisor that helps users optimize cash holdings across accounts. Expect a fleet of “coaches” soon, spanning spending, saving, investing and more.

That doesn’t mean the company is neglecting its traditional foundation. Personal loan originations increased nearly 66% year over year to $7 billion, and despite industry headwinds, SoFi’s home lending segment saw 92% year-over-year growth in Q2, reaching $799 million in originations. A big driver was home equity loans, which now make up a third of volume — a product SoFi didn’t even offer a year ago.

Meanwhile, student loans are recovering. Originations hit nearly $1 billion, up 35% from last year, buoyed by a new refinancing solution that steps up payments over time. SoFi sees tailwinds ahead from the elimination of certain federal programs like Grad PLUS, which may force more students into private options.

The company’s services segment, anchored by Galileo and Technisys, grew net revenue 15% year over year to $109.8 million with a steady 30% contribution margin. Accounts on the platform rose by 2 million, quarter over quarter, to 160 million.

If there’s a threat to SoFi’s growth, it’s not competition — it’s capacity.

“Our biggest challenge is deciding what not to do,” Noto said during the call.

From crypto and AI to stablecoins and tokenized loans, SoFi sees more opportunity than it can reasonably chase in parallel.

The company raised its full-year 2025 guidance, now projecting $3.375 billion in adjusted net revenue (up from $3.31 billion) and $960 million in adjusted EBITDA.

At the same time, lifetime value efficiency has become the cornerstone of SoFi’s flywheel strategy.

“It costs less than $15 to acquire a SoFi Relay user,” Noto said during the call, referencing the free financial dashboard tool that often serves as a gateway into the SoFi ecosystem.

From there, users often graduate to direct deposit, high-yield savings, investing and personal loans. A single user can generate more than $1,800 in variable profit from one loan alone — not counting additional products or lifetime value.

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