Tue Jul 08 13:40:00 UTC 2025: Okay, here’s a summary of the text, followed by a rewritten version as a news article:

**Summary:**

SoFi Technologies, a digital-only banking platform, is experiencing rapid growth and increasing profitability. Its user base has surged to nearly 11 million, driven by attractive high-yield savings accounts and a suite of financial products designed to be a one-stop shop for personal finance. The company is leveraging its growth to generate profits through lending, payments, and technology services. Analysts believe SoFi has significant potential for further earnings growth and consider it a potential “millionaire-maker” stock, despite recent gains. However, Motley Fool suggests investors to look at their list of top 10 stocks to buy.

**News Article:**

**SoFi’s Digital Banking Boom: User Base Soars as Profitability Takes Hold**

**San Francisco, CA** – SoFi Technologies (NASDAQ: SOFI), a leading disruptor in the consumer banking sector, is rapidly expanding its user base and achieving significant profitability, signaling a major shift in the financial landscape. The company, which offers a comprehensive suite of financial services through its smartphone app, now boasts nearly 11 million users, a dramatic increase from under 1 million in 2019.

SoFi’s success is fueled, in part, by its high-yield savings accounts, which currently offer a 3.8% annual interest rate. This competitive advantage has led to substantial deposit inflows, with the company adding $2.2 billion in deposits last quarter alone. Unlike traditional brick-and-mortar banks, SoFi’s digital-only model allows it to offer these higher rates due to significantly lower overhead costs.

“We’re seeing a clear trend of consumers embracing digital banking solutions that offer better rates and more convenience,” said Brett Schafer, Financial Analyst. “SoFi is strategically positioned to capitalize on this shift.”

Beyond savings accounts, SoFi aims to be a one-stop shop for personal finance. It offers credit cards, personal loans, investing brokerage services, insurance, and a membership program called SoFi Plus. The program allows users to qualify for cash back on credit card purchases, deposit matches, and wealth management tools.

These services have driven substantial revenue growth. Adjusted net revenue increased 33% year-over-year last quarter to $771 million, with financial services revenue up 101% and lending revenue up 25%. Importantly, SoFi’s credit metrics on loans are also performing well, addressing earlier concerns about risk.

Furthermore, SoFi’s technology platform, which provides financial technology services to third parties, generated over $100 million in revenue last quarter. This diversified revenue stream contributes to the company’s overall profitability.

As a result of its increasing scale and diversified services, SoFi achieved net income of $71 million last quarter and $482 million over the last 12 months, a major turnaround after years of losses. Analysts predict that future earnings could grow significantly, potentially leading to a substantial increase in the company’s market capitalization.

However, not everyone is convinced that SoFi is a top pick. Motley Fool suggests investors to look at their list of top 10 stocks to buy.

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