SoFi Technologies Inc. is buying Technisys SA for $1.1 billion, the latest in a series of mergers to make the lender a one-stop financial shop. 

The all-stock acquisition represents 10% of SoFi's market value. SoFi now owns its core-banking platform, which powers mobile banking apps, opens accounts, and tracks consumer deposits. 

Under CEO Anthony Noto, SoFi has expanded beyond student loan refinancing through deal making. It acquired California community lender Golden Pacific Bancorp Inc. this month, becoming a bank. SoFi acquired Galileo Financial Technologies Inc., a debit card issuer, for $1.2 billion in 2020. 

Technisys will help SoFi offer individualised financial services to its banking customers. It will also let other banks and financial-technology companies utilise the platform, which Latin American banks currently use. 

SoFi expects the Technisys acquisition to add $800 million to revenue by 2025. It will save up to $85 million. SoFi uses one legacy software provider for banking and savings accounts and another for credit cards. Technisys lets it internalise those skills.