SoFi deepens AI-powered trading ambitions with Composer deal
June 23 : Financial services firm SoFi said on Tuesday it has bought Composer, an AI startup that helps retail investors build and execute sophisticated trading strategies that have long been the preserve of Wall Street firms. While commission-free trading has made it easier for individual investors to buy and sell stocks, access to sophisticated systematic investing tools has remained largely concentrated among hedge funds and institutional firms even in recent years. SoFi is betting that AI can help close that gap by allowing mom-and-pop investors to build and test complex trading strategies with little to no coding or specialized AI prompting expertise. “If you can explain an investment idea in plain English, you can now build, test, and automate it,” CEO Anthony Noto told Reuters. “AI is already a foundational part of investing, and much like how mobile became a foundational part of banking, it will completely transform the industry.” SoFi said that following its acquisition of Composer, customers will also be able to access thousands of community-created strategies and automate execution from a …




