One Banking Stock to Buy and Hold Forever
The last couple of months have been turbulent for banks. Traditional brick-and-mortar financial institutions like Silicon Valley Bank and First Republic, along with investment bank Credit Suisse, all collapsed within a few weeks of one another. While this made for dramatic headlines about a potential banking contagion, some other developments in the banking industry may be more interesting.
SoFi Technologies (NASDAQ: SOFI) is a rising star on the banking landscape. The company's chief executive officer, Anthony Noto, has repeatedly told investors that his vision is to turn SoFi into the Amazon Web Services (AWS) of banking. But what does that mean?
Let's break down Noto's vision, what he has done, and why it's so important.
Source Fool.com
