SoFi Technologies, Inc. (SOFI) Credit Suisse 26th Annual Technology Conference (Transcript)

Nov. 30, 2022 10:36 PM ETSoFi Technologies, Inc. (SOFI), SOFIW1 Comment
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SoFi Technologies, Inc. (NASDAQ:SOFI) Credit Suisse 26th Annual Technology Conference November 30, 2022 4:20 PM ET

Company Participants

Chris Lapointe - CFO

Conference Call Participants

Moshe Orenbuch - Credit Suisse

Timothy Chiodo - Credit Suisse

Moshe Orenbuch

So good afternoon, everyone. Thanks, and - welcome, and thanks for joining us here at Credit Suisse' 26th Annual Technology Conference. I'm Moshe Orenbuch, joined by Tim Chiodo, and we're very, very pleased to have with us SoFi this afternoon.

So with that, I'll pass it over to Tim.

Timothy Chiodo

Sure. Thank you, Moshe. So thanks, everyone, for being here with us this afternoon.

Question-and-Answer Session

Q - Timothy Chiodo

I'm going to start off with a few questions on the financial services or the Neobank segment. So the first one that we want to talk a little bit about is user activity. So you report the accounts and the members more on a cumulative basis rather than an active user basis, which it helps with the quarter-over-quarter growth at times, but it makes it somewhat more challenging to think about modeling ARPU, if you will. But maybe you could just provide some context into the underlying engagement of the user base that would help us and help investors with that overall user number.

Chris Lapointe

Yes, sure. And thanks for having me, Tim and Moshe. I really appreciate it. So what I would say in terms of overall, we certainly have high engagement numbers through our financial services business as well as through our member products and relay products. But my view is that user activity on a day-to-day basis or daily activity is not the right metric to really look at, given the lifetime value of our members.

What we've learned is that we are here to create a one-stop

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