Streamlines Account-Opening Process for Individuals and their
Financial Advisors
NEW YORK & SAN DIEGO -- (Business Wire)
MaxMyInterest
(“Max”) -- an intelligent cash management and optimization platform
operated by Six Trees Capital LLC -- announced today that it has
partnered with UFB
Direct (“UFB”), an online banking brand of BofI Federal Bank, the
nationwide bank subsidiary of BofI
Holding, Inc. (NASDAQ: BOFI),
to offer Max’s members the opportunity to benefit from increased FDIC
insurance and competitive yields on their cash balances.
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Concurrently, Max unveiled the next generation of the Max Common
Application, which enables Max members to apply for multiple online
savings accounts by filling out a single form. Through the partnership
with UFB Direct, Max members are now able to open a new UFB Direct
account and automatically link it to their existing checking or
brokerage account with just a few clicks. Once the accounts are linked,
Max facilitates the flow of funds among these accounts to maximize yield
and FDIC insurance coverage, even as rates change.
“We are excited to partner with UFB Direct and BofI to offer our members
a compelling solution for their cash,” said Max CEO Gary E. Zimmerman.
“This new enhancement to our technology platform provides financial
advisors and their clients with a streamlined and efficient enrollment
process, making it easier than ever for individuals to benefit from
Max’s automated cash management solution.”
Max’s proprietary technology platform is designed to distribute
individuals’ cash automatically across multiple online savings accounts
to maximize yield and FDIC insurance coverage, without switching banks.
Through Max, UFB’s FDIC-insured savings accounts can be linked
automatically to checking or brokerage accounts at eleven of the
nation’s largest banks and brokerage firms.
“The partnership with Max exemplifies BofI’s dedication to incorporating
the best fintech solutions to create best-in-class user experiences and
outcomes for our customers,” said Eduardo Urdapilleta, Chief Deposit
Officer of BofI Federal Bank. "As more advisors and their clients seek
new opportunities to safeguard their cash, we are confident that our
savings products will provide optimal value, safety and convenience.”
About MaxMyInterest
MaxMyInterest (“Max”), a service of Six Trees Capital LLC, offers a
suite of tools for financial advisors that enable individuals to earn
dramatically higher yields on cash. Max automatically works to help
ensure deposits earn the highest yield possible while remaining
FDIC-insured. Max members currently are earning, on average, 1.00% on
cash, compared to the national savings average of 0.08%. Learn more
about Max’s solutions for individuals at MaxMyInterest.com
or for financial advisors at MaxForAdvisors.com.
About BofI Holding, Inc. and UFB Direct
BofI Holding, Inc. is the holding company for BofI Federal Bank, a
nationwide bank that provides financing for single and multifamily
residential properties, small-to-medium size businesses in target
sectors, and selected specialty finance receivables. With approximately
$8.2 billion in assets, BofI Federal Bank provides consumer and business
banking products through its low-cost distribution channels and affinity
partners. UFB Direct is one of the company’s brands. BofI Holding,
Inc.'s common stock is listed on the NASDAQ Global Select Market under
the symbol "BOFI" and is a component of the Russell 2000® Index, the S&P
SmallCap 600® Index, and the KBW Nasdaq Financial Technology Index. For
more information on BofI Federal Bank, please visit bofifederalbank.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170418005195/en/
Contacts:
Max
FiComm Partners
Abbie Sheridan
Communications
Manager
abbie.sheridan@ficommpartners.com
917-636-4803
or
BofI
/ UFB Direct
BofI Holding, Inc.
Johnny Lai, CFA
VP,
Corporate Development & Investor Relations
jlai@bofifederalbank.com
858-649-2218
Source: BofI Holding, Inc.
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