what metrics would you use to evaluate sofi's investment platform?

Introduction

Evaluating SoFi's investment platform requires a comprehensive approach to product success metrics. To address this challenge effectively, I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders. This approach will help us gain a holistic understanding of the platform's performance and identify areas for improvement.

Step 1

Product Context

SoFi's investment platform is a digital brokerage service that allows users to trade stocks, ETFs, and cryptocurrencies. It's part of SoFi's broader suite of financial products, which includes personal loans, mortgages, and banking services. The platform caters to both novice and experienced investors, offering features like automated investing, fractional shares, and educational resources.

Key stakeholders include:

1. Users (retail investors)
2. SoFi shareholders
3. Regulatory bodies (SEC, FINRA)
4. SoFi's internal teams (product, engineering, customer support)

User flow:

1. Account creation and funding
2. Research and education
3. Trade execution
4. Portfolio monitoring and management

The investment platform fits into SoFi's strategy of becoming a one-stop financial services provider, aiming to increase customer lifetime value and cross-sell opportunities. Compared to competitors like Robinhood or E*TRADE, SoFi differentiates itself by offering a more comprehensive suite of financial products and emphasizing user education.

Product Lifecycle Stage: Growth phase. The platform is established but still expanding its user base and feature set, with room for significant market share gains.