If you want to know how to market to millennials, watch Social Finance, the online lender that calls itself SoFi. This is the company that started out refinancing student loans, but now also makes personal loans and mortgages. It just applied for a charter to operate an industrial bank in Utah, which would give it the opportunity to offer credit cards and FDIC-insured deposit accounts.
Whether SoFi is the future, I don’t know. Press has been mixed with criticism for unfulfilled intentions to go public, a string of senior executive departures, and even a . . .
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