2023-11-11 07:50:00 ET
One of the most crowded industries today is fintech . The rise of neobanks, peer-to-peer payment applications, and buy now, pay later services is challenging traditional financial services.
At one end of the spectrum are legacy banks like Wells Fargo or JPMorgan Chase , which largely rely on brick-and-mortar locations to attend to customer needs. While going to the bank to deposit a check or review a mortgage application is entirely appropriate, newer entrants to the market are bringing these financial services entirely online.
One of the pioneers of digital banking is SoFi Technologies (NASDAQ: SOFI) . Following a blowout report for its third quarter, Ark Invest founder and Chief Executive Officer Cathie Wood scooped up almost a half-million SoFi hares.
For further details see:
Cathie Wood Just Bought This Fintech After It Smashed Earnings. Should You?