Mike Cagney co-founded SoFi, an online consumer lender, in 2011 along with his fellow students at Stanford. Over the years, SoFi has become one of the most successful companies in the Fintech market space.
Following a recent controversy on sexual harassment, Cagney's sudden and unexpected departure, has posed a huge question mark around the company's future.
Amidst all the speculation about the company's management and future service offerings, a few banking experts shared their opinions. Our Partner, Wei Ke, said "Strategically, it actually makes sense for them to get a banking charter".
This article was originally published on American Banker on September 13, 2017.