Introducing SoFi Coach: An AI-Powered Financial Guide to Help Members Get Their Money Right

SoFi’s new chat-based platform brings together AI and Financial Planner-backed insights to help members turn their financial ambitions into clear, personalized plans.

SoFi Technologies, Inc., the everything app for digital financial services, announced the launch of SoFi Coach, an AI-powered chat that delivers personalized financial insights. SoFi Coach is rolling out today, starting with SoFi Plus members. Built alongside SoFi’s team of financial planners, SoFi Coach helps members track, budget, save, and invest, all within the SoFi app.

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“The formula for getting your money right is simple: spend less than you make and invest the rest. But too many people don’t have the information to do that with confidence,” said Anthony Noto, CEO of SoFi. “We built SoFi Coach to give more people access to smarter, AI-powered financial tools and the experience of our financial planning team, so our members can reduce debt, make their money work harder, and take the next step toward achieving their ambitions.”

How it works

With SoFi Coach, members can ask questions anytime and receive personalized, judgment-free help understanding their money, powered by real-time analysis of their activity and tailored to their unique financial situation and goals. To get started, members can securely connect their accounts from more than 12,000 financial institutions through Relay, SoFi’s financial management tool, to see a more complete view of their financial picture. Members can use SoFi Coach to:

• Track spending: See where their money goes, spot recurring expenses, and set spending targets. For example, ask, “How much did I spend on recurring subscriptions last year?”
• Manage debt: Compare payoff options and explore refinancing options. For example, ask, “Should I focus on paying off my credit card or my personal loan first?”
• Plan for major life goals: Understand what they can afford and possible financial tradeoffs, from buying a home to saving for retirement. For example, ask, “What home price could I realistically afford right now?”
• Take action: Move from questions to action with personalized information, possible next steps and, over time, SoFi plans to offer more seamless actions within SoFi Coach, like opening accounts, setting up recurring contributions, transferring money, or paying down debt. For example, “Help me open a high-yield savings account.”

In early testing, SoFi Coach helped members take tens of thousands of financial actions, with nearly 70% of engaged test members taking meaningful steps to improve their finances, from paying down high-interest debt to moving money into higher-yield accounts.

“Foundational financial support, like understanding what you can spend while still making progress toward your goals, shouldn’t be a luxury,” said Brian Walsh, CFP®, PhD and Head of Advice & Planning at SoFi. “We’re focused on turning moments of uncertainty into clear next steps so members can make smarter decisions, build healthier spending habits, and confidently plan for their future.”

SoFi Coach expands SoFi’s everything app for digital financial services, bringing members a more connected and personalized way to manage their money. Member feedback and input from SoFi’s financial planning team will continue to shape the experience for SoFi’s 14.7 million members. Over time, SoFi is planning to introduce new features, including subscription management, expense tracking, and cancellation tools.

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