MaxMyInterest unveiled a new integration to make it easier for financial advisors to bring smart cash management to their clients. Leveraging forms automation and management technology from Laser App Software, advisors will be able use their own CRM systems to “pre-onboard” clients to the Max platform. The client’s new Max account is linked to the advisor, whose read-only access to cash balance data ensures a holistic overview of cash and other accounts.
According to founder and CEO Gary Zimmerman, the integration helps advisers who are using leading CRM platforms to add MaxMyInterest as an option for their clients. Robert Powell, VP marketing and sales for Laser App, calls the technology a “one-of-a-kind front-end system” and says the partnership is a “great opportunity for us to learn from leading innovators.”
MaxMyInterest’s intelligent cash-management platform helps savers earn higher yields while maintaining FDIC protection. Like a robo-adviser intelligently rebalancing a stock portfolio, MaxMyInterest tracks interest rates and reallocates cash toward higher-yielding accounts as part of an automated monthly optimization. Customers can also move cash between accounts on their own using MaxMyInterest’s Intelligent Funds Transfer feature. The company reports that those saving with Max “typically can earn 0.70% to 0.90% more than traditional ‘brick-and-mortar’ banks” and favorably compares its 0.99% average to the national average of 0.11%
Founded in 2013 and headquartered in New York, MaxMyInterest demonstrated its technology at FinovateFall 2014. The company celebrated its third anniversary this month, announcing support for TD Bank, and launched its client invitation Feature—another onboarding enhancement—in May. Read more about MaxMyInterest in our Finovate Debut profile.