RiskExec Press Release

Washington, D.C. (September 12, 2023) - RiskExec, Inc. (“RiskExec”) today announced that SoFi – the digital personal finance company – will rely on RiskExec’s software for compliance and reporting purposes.

RiskExec is a leading SaaS compliance and reporting platform designed for managing regulatory compliance for banks, mortgage lenders, credit unions, auto lenders, and digital lenders. The best-in-class solution quickly geocodes, runs edit checks, and with clean data, creates analyses to determine lending dispositions, compares to peers by market, and tracks performance towards achieving internally defined goals.

Angie Smedley, CRA Officer at SoFi, commented, “RiskExec’s enhanced geocoding functionality, customization options, and excellent customer support have allowed us to optimize efficiencies within our consumer loan review process, enabling us to continue improving the experience for both prospective and existing members.”

SoFi also uses RiskExec’s CRA module to track and report on the bank’s small business and Community Development loans.

SoFi is a digital-first personal finance company on a mission to help people achieve financial independence to realize their ambitions. SoFi’s mission and core values are consistent with the CRA regulation, and the company is committed to providing a robust CRA program that’s inclusive of lending, investment, and services, with a focus on meeting the credit needs of the communities within the Bank’s proposed assessment areas, including low- and moderate-income individuals and neighborhoods.

“We are pleased to have SoFi on our list of RiskExec users, and to see RiskExec successfully implemented and enhancing their CRA program. With a stringent, ever evolving regulatory environment, RiskExec prepares banks for regulatory examinations by analyzing trends and performance against internal goals, percentages inside versus outside assessment areas and more,” said Dr. Anurag Agarwal, PhD, President, RiskExec. “We look forward to continuing to provide SoFi with the most accurate, up to date analytics as possible to meet their CRA goals.”

For more information on RiskExec, contact us at info@riskexec.com or (202) 765-2150.

About RiskExec
RiskExec is a leading SaaS-based fair lending analytics and reporting platform that helps banks, mortgage lenders, credit unions, and non-traditional lenders more easily comply with demanding regulatory requirements, including HMDA, CRA, and SBL/1071. RiskExec’s browser-based software automatically incorporates new regulatory, geographic, and peer institution data in real-time to help lenders stay up to date on evolving requirements. Financial institutions rely on RiskExec’s modules to geocode; proactively identify areas of disparate impact, redlining, and/or steering; take corrective action as needed; and assemble HMDA and CRA files and run government edit checks prior to submission. To learn more about how RiskExec helps compliance experts shift their focus from finding problems to proactively building opportunities for clients and institutions, visit www.riskexec.com.

About SoFi
SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. The company’s full suite of financial products and services helps its more than 6.2 million SoFi members borrow, save, spend, invest, and protect their money better by giving them fast access to the tools they need to get their money right, all in one app. SoFi also equips members with the resources they need to get ahead – like career advisors, credentialed financial planners, exclusive experiences and events, and a thriving community – on their path to financial independence.

SoFi Technologies innovates across three business segments: Lending, Financial Services – which includes SoFi Checking and Savings, SoFi Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and Technology Platform, which offers the only end-to-end vertically integrated financial technology stack. SoFi Bank, N.A., an affiliate of SoFi, is a nationally chartered bank, regulated by the Federal Reserve, OCC, and FDIC. The company is also the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams. For more information, visit SoFi.com or download our iOS and Android apps.

Media Contacts

Media Contact:
Era Williams
Director of Marketing
RiskExec
(214) 257-1763
ewilliams@riskexec.com

SoFi
Rachel Rosenzweig
Senior Director, Communications & Policy
(847) 421-2093
pr@sofi.org