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Better Buy: SoFi Technologies or Ally Financial?

TheMotleyFool

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Better Buy: SoFi Technologies or Ally Financial?: https://g.foolcdn.com/editorial/images/720339/people-examining-charts-getty.jpg

Two stocks that have been in the news a lot in recent years are the digital consumer banks SoFi Technologies (NASDAQ: SOFI) and Ally Financial (NYSE: ALLY), both of which employ a branchless banking model.

Ally was spun off from General Motors in 2006 and formally rebranded as Ally in 2010. SoFi was founded in 2011 and went public through a special purpose acquisition company in 2021.

While both are similar on the surface, SoFi and Ally target different customers and have different products and services that set them apart. With that said, let's take a look at which is the better buy.

Source Fool.com

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