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.
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.”
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.