Every SoFi Investor Should Keep an Eye on This Number

In addition, SoFi reported its first full fitable year in 2024, and earnings are expected to grow rapidly

SoFi also has massive potential in areas such as loans and third-party loan origination, both of which are gaining serious traction

Image source: Getty Images

However, as a SoFi stock investor myself, I think there's one area that holds tremendous room for imvement, and if the bank gets it right, it could be a major tailwind for the stock

SoFi's cross-selling potential One area in which SoFi could imve is cross-selling ducts to its large membership base

A "duct" refers to one bank account, brokerage account, loan account, and so on

Mathematically, that means the most common number of banking ducts a SoFi customer has with the bank is one

Part of the explanation here is that SoFi is still building out its ecosystem

SoFi continues to add ducts, and there are some relatively standard banking ducts, such as CDs and auto loans, that SoFi doesn't offer -- at least not yet

However, the point is that it's important to focus not just on member growth

The key factor will be to encourage more members to make SoFi their primary bank

According to a study from Accenture, the average consumer has more than three financial ducts with his or her primary bank, and if SoFi could get to this level, it would be a big win for investors

Matt Frankel has positions in SoFi nologies

The Motley Fool has positions in and recommends Accenture Plc

The Motley Fool has a disclosure policy.