Joanne Bradford, SoFi COO, visited the studios of CNBC earlier today to give an update on the status of their lending operations. Bradford’s discussion comes on the heels of Orchard’s industry update that showed a dip in online lending during the second quarter of 2016.
Asked if she is concerned about Wall Street gearing up to enter the online lending sector (IE Goldman Sachs forthcoming marketplace lending platform), Bradford said they were not really that worried. The market is huge. SoFi is more focused on marketing execution and providing high-value services to their customers. What was cut from the video clip (embedded below) was that Bradford stated they were doing just fine regarding loans. In fact, they had just had one of their best days ever.