FOR IMMEDIATE RELEASE
New Automated Service Helps Investors Maximize Interest Earned on Cash
New York, NY – April 10, 2014 – Max, a new online service designed to automatically maximize the interest investors earn on their bank deposits, launched today on an invitation-only basis.
Using proprietary, patent-pending technology, Max optimizes cash allocation among FDIC-insured bank accounts, allowing investors to benefit from higher interest rates offered by online banks. Because these banks have lower operating costs compared to traditional brick-and-mortar banks, they can offer significantly higher yields.
“Many depositors are sitting on considerable cash reserves, frustrated by near-zero interest rates,” said Gary E. Zimmerman, Chief Executive Officer of Six Trees Capital LLC, the company behind Max. “With Max, we’ve created a solution that automatically helps investors earn substantially more on their cash without the hassle of constantly tracking and reallocating funds.”
Max employs sophisticated algorithms to automatically adjust fund transfers across members’ linked bank accounts, maximizing returns and ensuring balances stay within FDIC insurance limits. Members can expect to earn 0.60% to 0.80% more annually in interest compared to typical brick-and-mortar bank accounts or money market funds, all while maintaining FDIC insurance coverage.
Members keep their primary banking relationships unchanged, including direct deposit, bill payments, and branch services. Excess cash is seamlessly swept into higher-yielding online savings accounts, and funds are returned to members’ checking accounts as needed.
Max serves individual investors, small businesses, family offices, and registered investment advisors looking to improve client cash returns without increasing risk. Importantly, Max never takes custody of assets; instead, it provides an intelligent technology layer atop members’ existing accounts.
The U.S. retail banking sector holds approximately $9.4 trillion in deposits, with only a small fraction currently allocated to online banks. Max is positioned to help significantly increase this share by providing investors an effortless way to access higher returns on cash.
For more information and to view an explanatory video, visit MaxMyInterest.com.
About Max
Max is an automated online solution that dynamically allocates depositor funds to FDIC-insured banks offering the highest interest rates available. Max is not a bank and does not provide investment advice. Learn more at MaxMyInterest.com.
About Six Trees Capital LLC
Six Trees Capital LLC develops technology aimed at enhancing efficiency and returns within the financial system. The company was founded by Gary E. Zimmerman, formerly an M&A investment banker and advisor to sovereign wealth funds managing over $5 trillion. The firm’s advisory board includes leading experts from Harvard Business School, IBM’s data privacy and security division, and top computer security consultancies. Six Trees is based in New York City.
Media Contact:
press@maxmyinterest.com