The financial services industry is hyper competitive. Legacy banks such as Wells Fargo have commanding footprints in the banking realm.

But like any other industry, new players eventually enter the competitive landscape. SoFi Technologies (NASDAQ: SOFI) is quietly disrupting the banking sector, and you may not even realize it. The company does not have physical branches -- it operates solely online.

While this might seem counterintuitive, SoFi's digital-only model is working. Let's break down how the company is bringing innovation to the financial services world and assess if now is a good opportunity to scoop up some shares.

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Source Fool.com