FOR IMMEDIATE RELEASE
MaxMyInterest Presents at 2015 New York FinTech Innovation Lab Demo Day
Accelerator Program Showcases Next-Generation Financial Technology Companies
New York, NY, June 25, 2015 — MaxMyInterest, a service that helps individuals earn more on the money in their bank accounts, presented its unique cash optimization solution at the FinTech Innovation Lab’s Demo Day, held this morning at the Bank of America Tower in Manhattan.
For the last three months, MaxMyInterest has been a participant in the FinTech Innovation Lab, along with six other financial technology companies. This mentorship program selects fintech companies from among hundreds of applicants and pairs them with executives from 15 leading financial institutions in addition to tech veterans and venture capitalists. The FinTech Innovation Lab’s companies receive advice as well as access to bank technology decision-makers as part of the program, which is sponsored by the Partnership Fund for New York City and Accenture.
“We are proud to be among the companies selected to participate in the Lab,” said MaxMyInterest Founder and CEO Gary E. Zimmerman. “We have benefitted greatly from working with the banks and mentors associated with the program, and would recommend the Lab highly for fintech companies looking to grow their enterprise business.”
Other fintech companies participating in the 2015 Lab include Digital Asset Holdings, EverSafe, PierceMatrix, PYT Funds, Social Alpha, and Ufora.
Financial services firms supporting the FinTech Innovation Lab program include Ally Financial, American Express, Bank of America, Barclays, Capital One, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, Guardian Life, JP Morgan Chase, Morgan Stanley, New York Life, UBS, and Wells Fargo. Supporting venture-capital firms include Bain Capital Ventures, Canaan Partners, Contour Venture Partners, FirstMark Capital, Nyca Partners, Rho Ventures, RRE Ventures and Warburg Pincus.
MaxMyInterest is an intelligent cash management solution that helps individual investors earn more on FDIC-insured bank deposits. Max’s patent-pending cash sweep technology monitors interest rates and automatically reallocates funds among a client’s existing checking account and higher yielding online savings accounts to maximize interest income and FDIC insurance coverage while maintaining a desired checking account balance. Americans, who are currently sitting on more than $3 trillion in bank deposits and money market funds, could be earning billions more in interest each year via Max, automatically. Max is not a bank and never takes custody of client funds. Members keep their existing checking accounts, so direct deposit, bill pay, and access to tellers and notaries remain unchanged. Max is available direct to individuals via MaxMyInterest.com, and can also be integrated into wealth management platforms, so that banks, brokerage firms, registered investment advisors and multi-family offices can deliver better cash solutions to their clients.
About The FinTech Innovation Lab
The FinTech Innovation Lab is an annual 12-week accelerator program that brings together early stage financial technology companies and the world’s leading banks. Held in a trusted, collaborative, non-sales environment, this innovative program is an opportunity for the participating startups to work with potential future customers, validate propositions, gain valuable insights into the banking sector and develop strong relationships with senior industry executives. Entrepreneurs developing potentially game-changing technologies for financial services—particularly in the areas of Big Data and analytics, mobile and wireless, payments, risk management, security, compliance, and social media and collaboration technologies—are selected to participate in the program.
Accenture launched the lab in New York in 2010 in collaboration with the Partnership Fund for New York City and has since developed the program in London and Hong Kong where the three programs run counter cyclically. For more information visit: www.fintechinnovationlab.com.
Accenture is a global management consulting, technology services and outsourcing company, with more than 323,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$30.0 billion for the fiscal year ended Aug. 31, 2014. Its home page is www.accenture.com.
About the Partnership Fund for New York City
The Partnership Fund for New York City is the $110 million investment arm of the Partnership for New York City (http://www.pfnyc.org). The Fund’s mission is to engage the City’s business leaders to identify and support promising NYC-based entrepreneurs in both the for-profit and non-profit sectors to create jobs, spur new business and expand opportunities for New Yorkers to participate in the City’s economy. The Fund is governed by a Board of Directors co-chaired by Charles “Chip” Kaye, co-chief executive officer of Warburg Pincus, and Tarek Sherif, Chairman and CEO of Medidata. Maria Gotsch serves as President and CEO of the Fund.
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