SoFi (NASDAQ: SOFI) is arguably the most successful banking disruptor to date. It is not only positioning itself as a high-yield alternative to traditional savings accounts or as a better way to borrow money but also aims to completely replace its customers' relationships with brick-and-mortar financial institutions.

Of course, if it were easy to truly disrupt massive institutions like JPMorgan Chase and Bank of America, someone would have done it already. And many investors are understandably wary of a company that would try.

In full disclosure, I'm a big believer in SoFi. I have a substantial position in the bank stock, and it has become my primary bank. But no stock is perfect. Here are a couple of the things I'm most excited about and a couple of, well, yellow flags I see that are causing me to approach my investment with a bit of caution.

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Source Fool.com