SoFi aimed to increase the low referral rate, which accounted for only 2% of new users, by making the referral process more engaging and transparent. Previously, users could only see if their referral was successful when they received a reward. The new solution introduced real-time visibility into their friends' progress through the sign-up stages, making it easier to track and encourage successful referrals. This approach was designed to reduce friction and boost motivation by clearly showing potential earnings.