Financial services are one of the world's largest industries, worth trillions of dollars. It's also one of the oldest, with a lot of traditional ideas about how to operate and how to make money. Financial technology companies like SoFi Technologies (NASDAQ: SOFI) are trying to do things differently and, as a result, are nipping at the heels of traditional banks.

But trying to change how banking is done hasn't been without its difficulties for this company since SoFi went public in June 2021. Share prices are down about 82% from their high point in early 2021 and now trade near all-time lows. What has the market so down on this stock in 2022? And more importantly, can it regain the market's confidence going forward?

Here is why SoFi's stock could shine like a diamond in 2023.

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Source Fool.com