💨 Abstract

Fintech lender SoFi has agreed to a $5 billion deal with Blue Owl Capital for personal loans, showcasing the growing shift of consumers from traditional banks to digital services. The increase in interest rates, stricter bank lending, and preference for digital financial services drive this trend. Institutional investors are also backing these loans due to their potential for higher yields.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖