FOR IMMEDIATE RELEASE
Partnership another milestone in digitization journey
West Reading, PA and New York, NY — November 17, 2020 — Customers Bank (NYSE: CUBI), a digital-first, fintech-forward financial institution with a growing national presence, today announced its nationwide collaboration with MaxMyInterest (Max), an intelligent cash management platform for individual clients and financial advisors.
“Customers Bank has demonstrated a commitment to innovation, and we are proud to welcome them to the Max platform,” said Gary Zimmerman, Founder and CEO of MaxMyInterest. “Through this collaboration leveraging our patented Max Common Application, Max members can now earn even higher yields on their cash quickly and securely—without switching banks—and have peace of mind knowing their funds remain FDIC-insured and same-day liquid.”
In an era where high net-worth clients demand convenience, speed, security, and access to top financial products, Max provides an attractive solution for maximizing cash yields. Utilizing industry-leading rapid account-opening technology, this integration allows Max members to open and fund an FDIC-insured Customers Bank high-yield savings account in under one minute.
“We are pleased to join the select group of partner banks on the Max platform,” commented Sam Sidhu, Vice Chairman & Chief Operating Officer at Customers Bank. “Our collaboration with Max aligns with our ongoing strategy to partner with innovative fintech providers to deliver groundbreaking financial services. The CB Max Savings account is designed specifically to help clients achieve both short-term and long-term financial objectives.”
Max seamlessly and automatically distributes client cash balances among multiple bank accounts, continually pursuing the highest available yields as rates fluctuate. Clients earn highly competitive yields, benefit from increased aggregate FDIC insurance coverage, enjoy one-click fund transfers, and receive consolidated tax reporting.
Customers Bank has actively partnered with fintechs, facilitating over 108,000 SBA Paycheck Protection Program loans worth over $5.2 billion in 2020. In 2015, Customers Bank launched BankMobile, providing a compliant, mobile-first banking experience recognized as the “Most Innovative Bank” by LendIt in 2019. BankMobile’s disruptive “Banking-as-a-Service” (BaaS) model has partnerships including T-Mobile Money and Google Money.
“The Max partnership represents another key milestone in our digital transformation journey,” Sidhu added.
For more information or to open an account, visit MaxMyInterest.com.