Sofi Stock vs Ally Financial, who is the king of the fintechs? In this side-by-side comparison, we compare Sofi Technologies to Ally Financial. IN THE RED CORNER… Ally Financial Inc. is a Buffet-backed company that has been in the game for ages. By that, we mean a CENTURY-OLD bank… and in the BLUE CORNER, the start-up fintech SOFI who’s been in business for just a DECADE. Both SOFI and Ally Financial offer a similar range of products in one place. If you’re a fan of Warren Buffett, you may be team Ally Financial, but is the Ally juice really much more worth the squeeze than SoFi? In this video, we’re going to go over the KEY DIFFERENCES between Ally Financials and SoFi. #1 ALLY VS SOFI: COMPANY HISTORY DID YOU KNOW that this new addition to Warren’s portfolio is way older than you might have thought? The company started around 1919, and even the Oracle of Omaha himself wasn't born yet. In 1919, Ally Financial was GMAC, AKA General Motors Acceptance Corporation. Yes, it’s the same general motors that Nikola once fooled for a 2-billion-dollar deal. Back then, GMAC’s sole purpose was to help dealers finance and maintain their inventory and keep up with consumer demand. About 61 years later, GMAC LEASED THE FIRST EV in the auto industry and expanded its line with mortgage products. Between 2000 to 2010, the transformation of GMAC to Ally Bank finally came to life, a typical Fintech with no physical branch location. In 2012, Ally Financial reached the milestone of having 1 MILLION CUSTOMER ACCOUNTS, and two years after, the company completed its IPO which raised 2.38 billion dollars.
Today, Ally Financial isn’t just a car refinancing company. It offers a lot of things like online banking, lending, home loans, auto financing, and wealth management. When Ally Financial went public, SOFI was just 3 years old. In 2015, SOFI started offering mortgage and personal loans. 4 years after, SOFI Money and Sofi Invest were created. Last year, SOFI went public through a merger with Chamath’s Social Capital Hedosophia Holdings Corp. #2 ALLY FINANCIAL VS SOFI: CORE BUSINESS. Ally Financial has 3 primary business lines: Dealer Financial Services, Mortgage Finance, and Corporate Finance. The Dealer Financial Services is broken down into two more categories: automotive finance and insurance segments. Most of Ally Financial’s customers from this segment are automotive dealers, and some of them have been built throughout their 100-year history. On top of that, the insurance operations of Ally Financial focuses on consumer protection and insurance products through the automotive dealer channel, where their products are directly sold to the dealers. From what we’ve seen, Ally has ‌cornered the market in terms of auto financing in the US. Most people we know that have gotten auto financing has been from Ally. Ally Financial is also in Mortgage Finance, where Ally Financial helps its customers in the management of held-for-investment and held-for-sale consumer mortgage loan portfolios. Lastly, Ally’s Corporate Finance segment. As the name suggests, this is where it provides senior secured leveraged cash flow and asset-based loans to middle-market companies based in the US and owned by private equity sponsors. Ally Financial also offers Ally Invest, Ally Lending, and Ally Credit Card. If you like this video and want to see more things sofi/sofi stock news from sofi breaking news to sofi fundamental analysis then don't forget to subscribe!


Timestamps:
00:00 SoFi Vs Ally
00:21 SoFi and Ally Financial Both Offer Similar Products
00:30 VIideo Overview
00:40 Price Per Share For Both Companies
00:52 FIntechs Have Had A Wild Ride
01:04 Video Overview
01:18 #1 SoFi Vs Ally “Company History”
02:53 #2 SoFi Vs Ally “Core Business”
04:40 #3 SoFi Vs Ally “Figures”
05:42 Warren Buffet Buys Millions Of Shares Of Ally
06:06 Ally Is Ahead Of SoFi
06:16 SoFi Insider Buys
06:35 Comment WHo Has More Potential
06:50 SoFi Patreon
07:07 Shoutout To Our Patreon Community
07:30 Thanks For Watching


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