SoFi Launches SoFi Coach, a Paid AI Financial Chat Assistant
Linking accounts at more than 12,000 institutions, it gives planner‑informed prompts that require users to act themselves.
Overview
- SoFi has begun rolling out SoFi Coach to SoFi Plus subscribers for a $10 monthly fee as a new paid feature that aims to deepen member engagement and revenue.
- The tool uses SoFi’s Relay account connection to aggregate data from over 12,000 financial institutions so recommendations reflect a user’s full financial picture.
- SoFi says the assistant was built with input from its in‑house financial planners, does not provide investment advice, and will not execute transactions on users’ behalf.
- Early testing showed strong behavioral response, with nearly 70% of engaged users taking a concrete financial action such as paying down high‑interest debt or moving money to higher‑yield accounts.
- SoFi reported a modest market uptick after the launch and plans to add subscription management, expense tracking, and cancellation tools next, joining other firms that are adding AI finance features.