Social Finance CEO Mike Cagney has been talking for years about adding a deposit account to an online product line that already includes student loans, mortgages and investment products.

That vision came closer to fruition Wednesday with the announcement that San Francisco-based SoFi is acquiring Zenbanx, which offers a mobile banking account designed to appeal to international travelers.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.