SoFi Technologies (NASDAQ: SOFI) has experienced a remarkable surge this year, with its stock soaring 89% since the beginning of 2023. Its impressive performance can be attributed to positive catalysts fueling its business, particularly the recent end of the student loan moratorium.

SoFi presents an interesting case study -- investors are divided on whether they should value the online banking and lending platform as a rapidly growing fintech, or as a bank stock. In this article, we'll delve into SoFi's business, which aims to be a one-stop shop for financial services, and see if this stock is right for you.

When SoFi was founded in 2011, the company focused on helping people refinance student loans at lower interest rates. It grew into providing personal and home loans and has since grown into a full-service fintech offering credit cards, cash management, investment accounts, and technology solutions for its customers.

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Source Fool.com