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Prediction: SoFi Will Be 1 of the Largest Banks in the U.S. in 10 Years

By Jennifer Saibil | September 30, 2025, 8:43 PM

Key Points

  • SoFi is a fast-growing, all-online bank that's aiming to become a top-10 financial institution.

  • It offers a large suite of financial services that appeal to a younger clientele, and they'll drive growth as they continue along their financial journeys.

  • SoFi is growing faster than all the top-10 banks today.

Today, SoFi Technologies (NASDAQ: SOFI) is an up-and-coming bank that's growing quickly, and it's already a mid-sized bank. It has caught the attention of smart investors, and SoFi stock is up more than 450% over the past three years.

However, it has grand ambitions of becoming a top-10 U.S. financial institution, and I think it can get there within the next decade. Here's how, and what it means for the stock.

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Students looking at their phones.

Image source: Getty Images.

On the way to the top

Most of the largest banks in the U.S. don't come close to the top four, which have trillions of dollars in assets. Even they don't compare to each other, and from there, they get much smaller. Here are the top 10 in order:

1. JPMorgan Chase: $3.8 trillion

2. Bank of America: $2.7 trillion

3. Citigroup: $1.8 trillion

4. Wells Fargo: $1.8 trillion

5. U.S. Bank: $664 billion

6. Capital One Financial: $648 billion

7. Goldman Sachs: $625 billion

8. PNC: $555 billion

9. Truist Financial: $536 billion

10. Bank of New York Mellon: $398 billion

SoFi has $36 billion in assets, making it just under a tenth of the size of the 10th-largest bank in the U.S. When CEO Anthony Noto says that he expects SoFi to reach the top 10, that doesn't necessarily mean it's going to challenge JPMorgan Chase or Bank of America, but it could top some of the large regional banks on the list.

Why SoFi

New customers are being pulled to SoFi's platform like a magnet. It added a record 850,000 new members in the second quarter, a 34% year-over-year increase. SoFi offers an all-online platform that suits today's younger customer, and it targets the students and young professionals who are looking for digital-first, easy-to-use services. SoFi doesn't offer everything a top, legacy bank offers today, but it doesn't need to. It provides the services a banking newbie needs to get started, wrapped up in a model that works for this generation.

But it's adding new services all the time, and over the next few years, it could have a formidable operation. It's launching new tools and solutions that appeal to its target clientele, like cryptocurrency trading and other Blockchain-based services, and it's creating its marketing to reach this crowd, investing in sporting events and other entertainment offerings, like the Country Music Association's CMA Fest. Noto said, "As the only one-stop shop for digital financial services, our investments can drive greater long-term growth because we have more ways to attract members to our platform and more ways to grow with them once they're here."

How it can reach the top

SoFi is growing quickly, and as it gains new customers and launches new features, it's enjoying strong network effects. That's why revenue growth accelerated in the second quarter to 44% year over year.

Its younger customers have fewer financial management needs today, but that will grow over time. For example, today SoFi might service a customer's student loan, and in five years from now, that customer might apply for a home loan. In the meantime, they're engaging with SoFi's platform by using its bank accounts, and 90% of SoFi Money deposits are set up through direct deposit. As these customers move up in their careers, those deposits should increase, and customers will be more likely to use SoFi's investment tools, and so forth.

Consider how fast SoFi is growing compared to the other banks in the top 10 today:

SOFI Total Assets (Annual) Chart

SOFI Total Assets (Annual) data by YCharts

If it can keep that up, it will be well on its way toward jumping over the 45 or so banks keeping it out of the top 10. It has already surpassed several to reach its spot in today's rankings as it grows by lightning speed.

As SoFi attracts more customers and business, its stock is going to reflect its continued growth. It still has a long way to go to the top, and investors who invest today can still take part in its story.

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JPMorgan Chase is an advertising partner of Motley Fool Money. Wells Fargo is an advertising partner of Motley Fool Money. Citigroup is an advertising partner of Motley Fool Money. Bank of America is an advertising partner of Motley Fool Money. Jennifer Saibil has positions in SoFi Technologies. The Motley Fool has positions in and recommends Goldman Sachs Group, JPMorgan Chase, Truist Financial, and U.S. Bancorp. The Motley Fool recommends Capital One Financial. The Motley Fool has a disclosure policy.

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