Mike Cagney - SoFi

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Last quote by Mike Cagney

I think what's going to happen is the banks are going to move towards our model over time. And so we certainly don't have the hoovers to expect that we're going to change all of banking, but we are going to drag them into a different kind of service model and one that's a lot more aligned to the customer.feedback
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May 16 2017 Fintech
Mike Cagney has most recently been quoted in an article called SoFi CEO explains how his fintech company will make banks 'more aligned to the customer'. Mike Cagney said, “If you look at SoFi, we run over 65 percent contribution margin across our three lending businesses. We're the most profitable fintech company in the marketplace. And there's huge opportunity to expand from that, and it comes down to cost of acquisition. If you build really strong brand, really strong evangelism, really strong what I call 'cross-buy,' you can drop that cost of acquisition significantly and that drives margins.”. Mike Cagney has been quoted a grand total of 5 times in 2 articles.
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