SoFi enables instant transfers via FedNow

SoFi has launched instant bank transfers utilizing the Federal Reserve's FedNow Service, enhancing its payment capabilities. This new feature, powered by SoFi's Galileo platform, allows SoFi members to seamlessly move funds between their SoFi accounts and accounts at other U.S. financial institutions in mere seconds. The integration signifies a move towards faster, more efficient money movement for consumers, leveraging modern payment infrastructure to improve the user experience for its personal finance platform members.