Exciting Times Ahead!
Zenbanx and SoFi Join Together for the Journey
|Meet Sofi||Press Release||FAQ||Arkadi's Blog|
When we started Zenbanx, we set out to create a mobile banking product as dynamic as you are. Together over the last four years, we’ve done things no other company has done, like creating the only mobile multi-currency account, adding great interest rates, fast and secure sends, the ability to hold nine currencies in one account, and providing a debit card so you can spend your currencies in country.
Today we’re happy to tell you about a development that we believe will accelerate our pace toward that mission. We’ve agreed to be acquired by SoFi, a new leader in online personal finance and the largest non-bank lender in the United States. Together, we will be creating an expanded line of revolutionary consumer financial products built on top of Zenbanx technology.
For the foreseeable future, it’s business as usual -- you’ll be able to use your Zenbanx account as you always have. In time, as we integrate with SoFi, you’ll be migrated to a SoFi mobile banking account, but we’ll make sure you have plenty of notice before that process begins. You can learn more about this announcement by reading our press release, FAQs and our CEO Arkadi’s blog post here.
Thanks for being a Zenbanx customer, and for joining us on this new part of our journey.
— The Zenbanx-SoFi Team
Frequently Asked Questions (FAQ)
|What does SoFi do?||SoFi is a new kind of finance company taking a radical approach to lending, wealth management, and insurance. The company was founded in 2011 with its introduction of Student Loan Refinancing product, and has since branched out into personal loans, mortgages, wealth management and most recently, life insurance. Through unique financial products and unparalleled member benefits, the SoFi community works to empower its members to accomplish the goals they set and achieve financial greatness as a result.|
|Why is SoFi acquiring Zenbanx?||SoFi and Zenbanx share a vision that banking should and can be better, and have built products and services to do it. With Zenbanx joining SoFi, we’re moving one step closer to becoming the center of our members’ financial lives by adding a SoFi checking product, and eventually credit cards, to our offerings for members.|
|Will users be able to continue using their Zenbanx accounts and app after the acquisition?||Zenbanx customers in both the U.S. and Canada will continue to have access to their accounts through Zenbanx’s mobile platform and will later be transitioned to SoFi bank accounts once the new product is finalized.|
|Will Zenbanx continue to accept new customers?||Yes, people can continue to sign up for Zenbanx accounts, but will ultimately be migrated to SoFi accounts once integration is complete.|
|Is there a timeline for discontinuing the Zenbanx app?||We’ll announce a timeline for the transition to SoFi bank accounts once the product is closer to final.|
|How will Zenbanx customers benefit from the transition?||Zenbanx customers will continue to get great products, service, and security from SoFi.|
|What will be the immediate impact on existing Zenbanx customers?||Zenbanx customers will experience business as usual. When the SoFi banking platform is completed the transition will occur.|