nCino Soars on IPO; MaxMyInterest Teams Up with Morningstar

nCino’s Record-Setting IPO – We previewed the initial public offering from cloud banking innovator and Finovate alum nCino a few weeks ago. Yesterday, the Wilmington, North Carolina-based company made its debut on the Nasdaq, climbing more than 150% on its first day of trading.

The one-day gain for nCino, which trades under the ticker “NCNO,” was the biggest for a U.S. tech company IPO since the dot.com days. The “exponentially oversubscribed” offering was priced at $31 on Monday, above two previous, lower price ranges, and nCino sold just over eight million shares to raise $250 million. The pricing gave the company a diluted market capitalization of $3 billion.


MaxMyInterest Integrates with Morningstar – A new partnership between cash management solution provider MaxMyInterest and Morningstar will give financial advisors a broader range of options when it comes to delivering higher yields for their clients’ cash. Head of Morningstar ByAllAccounts David Johnson said the integration would help “solve the problem of zero-interest rates on cash or cash-like balances for investors.”

The initial integration between MaxMyInterest and Morningstar ByAllAcounts data aggregation service will feature the ability to deliver client balance data into 40 platforms used by financial advisors for client reporting. Morningstar ByAllAccounts leverages AI technology to collect, consolidate, and enhance financial data and, regardless of platform, deliver that information to clients for a unified view of their investment holdings.


Currencycloud Readies for EU ExpansionCurrencycloud has been one of our busier alums in recent weeks. The company partnered with fellow alums Ripple and Mambu in June, accessing the former’s RippleNet to better serve SMEs in underserved regions, and teaming up with the latter in an integration that will enable financial services companies to deploy virtual accounts, payments and FX services faster.

This week we learn that the U.K.-based, B2B cross-border technology company has formed a new partnership – this time with Canadian payments and FX platform Shift Connect. The company is seeking Currencycloud’s help as it expands into the U.S., Europe, and the U.K.

Currencycloud also reported this week that it has been granted an e-money license from the Dutch Central Bank. The license, only one of seven the central bank issues to non-banks, will enable the company to store money, operate e-wallets, process payments, and collections. Currencycloud will also be able to “passport” its e-money license to other countries in the E.U., ensuring its ability to continue its expansion throughout Europe. This will remain the case for the company – headquartered in London – after the Brexit transition period is over, according to Currencycloud CEO Mike Laven.

“The Netherlands possess the perfect blend of factors to support our expansion in the E.U.,” Laven said. “It has a strong fintech sector, access to top talent and a safe regulatory environment, which allows us to keep driving forward our services and product.”


Here is the latest news from our Finovate alums.

  • Sezzle announces $60 million fundraising on Australian Stock Exchange, consisting of an institutional placement and a non-underwritten share purchase plan.
  • Backbase expands in the Asia-Pacific, opening offices in Sydney and Melbourne, Australia.
  • D1 Capital Partners invests $200 million for a 4% stake in TransferWise, sending the company’s valuation to $5 billion.
  • United Federal Credit Union to deploy core banking technology from Fiserv.
  • iProov teams up with IDV Pacific to support identity verification in Australia and New Zealand.
  • Nordigen featured in Silicon Canals’ look at top tech startups from Latvia.
  • NYMBUS teams up with Payrailz to enable financial institutions to access enhanced digital payment solutions.
  • Marqeta to power new digital wallet from Swiss fintech YAPEAL.
  • U.S. Secret Service to use blockchain analytics technology from Coinbase.
  • Bankjoy inks a pair of credit union partnerships.
  • ACI Worldwide announces that its Proactive Risk Manager and Model Generator solutions can now be deployed in a private or public cloud environment.
  • Courtesy of a partnership with Paxos, Revolut had enabled cryptocurrency trading for its customers in the U.S.
  • Swiss fintech Numbrs partners with TrueLayer to give its U.K. users access to open banking services.
  • Onfido announces a trio of new identity verification partnerships, teaming up with European alternative lenders Bondora, Voima Gold, and EstateGuru.
  • UAE-based Al Ain Finance to deploy Temenos Infinity and Transact solutions as part of an end-to-end digital transformation.
  • International credit agency CRIF signs strategic partnership with SIA to offer open banking services in Italy and across Europe.
  • Fintech Futures profiles Ukrainian bank, Privatbank.

Photo by Lad Fury from Pexels

MaxMyInterest Unveils High Yield Account Max Checking

Cash management solution provider MaxMyInterest introduced a new high-yield checking account called Max Checking last week. The latest offering from the New York City-based fintech will help individuals and advisors make more out of their cash holdings. Max Checking offers a 1.00% APY, FDIC-insured account that seamlessly connects the client’s brokerage, checking, and savings accounts to ensure that all of their cash has access to the best rates available.

Max Checking has no fees or minimums, enables free access to ATMs around the world, gives customers the ability to earn rebates on Max membership fees and, via a separate banking app, provides full mobile banking services including mobile check deposit, billpay, and P2P transfers.

In a blog post titled “Why We Launched Max Checking,” MaxMyInterest founder and CEO Gary Zimmerman noted that the reason for introducing the new solution was not to encourage consumers to change banks or checking accounts. Conceding that most people are content with their current banks, Zimmerman wrote that his goal was simply to give checking account users the same access to better cash rates that MaxMyInterest savings account users enjoy.

“Max Checking was designed to deliver on the promise of helping everyone in America earn higher returns on their cash,” he explained, before highlighting new capabilities that were the direct response to client requests. This new functionality ranges from the ability to access a wider number of supported banks to broader management over the technology’s automatic fund-sweeping process.

“Max was originally (created) for households who saw no distinction between checking and savings,” Zimmerman said. “Over the years, we’ve come to know many people who are saving for a specific purpose, and who prefer to allocate a discrete amount of cash to savings to earn more, without touching their checking account. With the launch of Max Checking, you can now earn more on savings without Max sweeping funds in/out of your existing checking account, so you’ll have even more control over your funds.”

The new offering is made possible courtesy of a partnership with Radius Bank, a firm Max has worked with since 2018. “Following our success with Radius Max Savings, we were excited to continue our work together to offer Max members a premium checking account,” Radius Bank President and CEO Mike Butler said. “This extension will allow depositors and their financial advisors to have a unified digital banking experience for both their savings, and now checking, needs in just a few clicks.”

MaxMyInterest demonstrated its automated cash management solution at FinovateFall 2014. The company’s technology offers both individuals and financial advisors the ability to optimize the return on their cash by automatically directing funds to FDIC-insured accounts that offer the highest yields. MaxMyInterest customers currently earn up to 2.28% APY on their savings accounts, significantly higher than the national savings average of 0.10%.

Founded in 2013, MaxMyInterest is operated by Six Trees Capital. More than 750 wealth management firms across the U.S. use the company’s technology to help their clients meet their cash needs.

Finovate Alumni News

On Finovate.com

  • MaxMyInterest Unveils High Yield Account Max Checking.

Around the web

  • Finastra announces two new apps built via its FusionFabric.cloud open development platform.
  • Fiserv inks partnership with DUCA Financial Services Credit Union, a Toronto, Ontario, Canada-based institution with more than 70,000 members.
  • Ripple’s “acqui-hiring” of the engineering team from Icelandic crypto trading company Algrim helps pave the way for its entry to the country.
  • Flywire and JCB International partner to allow select cardholders to use their JCB card to pay tuition.
  • More than 60 lenders join the CrediVia marketplace to source commercial loans.
  • Bill.com now facilitates payments in more than 130 countries and 100+ currencies.
  • Dwolla partners with TransferMate Global Payments to allow customers and their end users the ability to make and receive international payments.
  • Quadient parent company Neopost changes its name to Quadient.
  • InComm partners with Mizuho Bank to expand J-Coin Pay in Japan.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

Around the web

  • TransferWise announces that TransferWise for Banks is now live in the U.S, enabling FIs in the states to integrate with the international money transfer specialist.
  • Onfido forges strategic partnership with blockchain-based, e-voting provider Agora.
  • Digital mortgage solution provider BeSmartee integrates with cloud communications platform Twilio.
  • YUKKA Lab joins Deutsche Börse Venture Network.
  • Jack Henry & Associates earns spot in the top 15 of the IDC Financial Insights’ 2019 DC FinTech Rankings.
  • In partnership with Radius Bank, MaxMyInterest launches Max Checking, a new FDIC-insured offering with high-interest yields and no minimums or fees.
  • Salt Edge unveils its partner program to help companies get access to open banking channels.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • New Funding Helps Featurespace Fight Fraud in Financial Services.

Around the web

  • WeInvest announces North Asia expansion with appointment of new Head of Sales, Thomas Tse.
  • Yoyo Wallet partners with artisan coffee chain, SOHO Coffee.
  • TAG includes DefenseStorm and FeatureSpace in its list of the top 40 most innovative companies in Georgia.
  • ACI Worldwide brings its real-time payments solution to 17 Hungarian banks courtesy of partnership with T-Systems and Takarékinfo.
  • Dwolla powers AutoInvest, a new automatic investing feature from OneGold.
  • MaxMyInterest boosts top rate available on its platform to 2.46%, the highest rate in the country.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

MaxMyInterest Brings Intelligent Cash Management to Radius Bank

Radius Bank has teamed up with MaxMyInterest. The pioneering virtual bank has joined the intelligent cash management platform to offer a new account, Radius Max Savings, that currently earns 2.06% APY and is available exclusively on the MaxMyInterest platform.

“Working closely with Radius Bank, an innovator in online banking, we have streamlined the account opening process to less than one minute,” Gary Zimmerman, founder and CEO of MaxMyInterest said. “As a result of this collaboration, which leverages our patent-pending Max Common Application technology, Max members can now earn higher yield on their cash in just a few clicks, without switching banks.”

MaxMyInterest’s platform enables high net worth depositors to seamlessly and automatically transfer cash balances among multiple accounts in order to secure the highest yields. Max members enjoy aggregate FDIC insurance coverage on their deposits, as well as consolidated tax reporting.

“From quickly opening an account to maximizing their return on deposit balances, the Radius Max Savings accounts on the MaxMyInterest platform is a big step forward in enhancing the banking experience for your clients,” President and CEO of Radius Bank, Mike Butler said. He called the partnership with Max “an industry differentiator.”

A community bank with assets of $1.2 billion, Radius Bank serves individuals, SMEs, unions, government entities and non-profits. The bank offers check deposit, billpay, P2P payments and card management for personal clients, and provides services including advanced treasury management and loan payment solutions for business customers.

MaxMyInterest demonstrated its automated cash management technology at FinovateFall 2014. Over the summer, the company teamed up with Dynasty Financial Partners, which added Max as a cash option for its network of more than 45 wealth management companies. MaxMyInterest added former TD Ameritrade executive Tom Bradley to its advisory board this spring. And near the beginning of the year, CNBC quoted the company’s head of business development and partnerships, Michael Halloran, on cash strategies for investors during times of market volatility.

Operated by Six Trees Capital, MaxMyInterest was founded in 2013 and is headquartered in New York City.

Finovate Alumni News

On Finovate.com

  • MaxMyInterest Brings Intelligent Cash Management to Radius Bank.
  • SuperMoney Launches Student Loan Refinancing Marketplace.

Around the web

  • Payfone recognized for growth with Deloitte’s 2018 Technology Fast 500 Award.
  • Benzinga talks with Kabbage Co-founder Kathryn Petralia.
  • IndusInd Bank launches Dynamics-powered, interactive credit card with buttons.
  • PayPal completes acquisition of Hyperwallet.
  • Education technology pioneer Kinderlime selects Gusto as its exclusive payroll provider.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Dynasty Financial Partners Teams Up with Cash Management Innovator MaxMyInterest

With short term interest rates perking up, opportunities for savers to make the most of their cash are all the more worth pursuing. This is one way to view the decision by Dynasty Financial Partners to add MaxMyInterest as a cash option for its network of 45+ wealth management companies.

“We are always seeking to find ways to give Dynasty’s network advisors the best and most innovative offerings in the market,” Dynasty Financial Partners Director of Investments Joseph Dursi explained. “High net worth clients typically hold a relatively large cash position and offering a new higher-rate option through Max gives our independent advisors a solution for cash that will really benefit their clients.”

A service of Six Trees Capital, MaxMyInterest provides intelligent cash management via an easy to use, automated platform. Once the customer’s checking or brokerage account is linked, Max goes to work finding the best interest rates available and automatically reallocating cash balances. Customers can track their balances, track optimization status, and access their cash directly as they would from any brick and mortar or online bank.

The solution can be linked to a customer’s primary checking account and used as a cash sweep to take advantage of the higher rates from online banks. MaxMyInterest can also be linked to a brokerage account and managed as a strategic cash reserve. Max members typically earn between 1.50% and 1.70% more on their cash balances than they would at traditional banks, picking up an average 1.78% on cash compared to the national average of 0.09%.

“Dynasty Financial Partners, as the leading platform for successful wealth management firms, seeking to operate with independence, was a perfect fit for offering Max,” Head of Business Development and Partnerships for Six Trees Capital Michael Halloran said. He noted that advisors are referring to the platform as “a fiduciary solution for cash” for the way it gives high net worth clients the ability to get higher returns on their cash while at the same time providing broader FDIC insurance coverage.

New York-based MaxMyInterest demonstrated its platform at FinovateFall 2014.  The company’s solution works with checking accounts at many of the leading banks and brokerage firms in the U.S., including Bank of America, JP Morgan Chase, Citibank, Charles Schwab, and TD Bank. MaxMyInterest is also compatible with online banks such as Ally Bank and Marcus by Goldman Sachs.

Finovate Alumni News

On Finovate.com

  • nCino Partners with Secure Trust Bank.
  • Onfido to Secure Drivers for India’s Largest Rideshare Company.
  • Dynasty Financial Partners Teams Up with Cash Management Innovator MaxMyInterest.
  • Continuity to Provide Compliance Tech for Affinity FCU.

Around the web

  • CREALOGIX to implement its mobile application platform for VZ Depotbank.
  • Trulioo extends its identity and business verification service to the Philippines.
  • OutSystems named Leader in Gartner’s Magic Quadrant for Mobile App Development Platforms for the second year in a row.
  • MBT Bank to deploy SilverLake System from Jack Henry & Associates.
  • Fairstone Financial converts consumer loan portfolio to Fiserv’s LoanServ real-time servicing platform.
  • Temenos taps Alexandre Menage as new Head of Sales for Africa.
  • Lendio announces 90% YoY quarterly revenue growth.
  • Blackhawk Network’s CashStar wins PayTech award for Best E-Commerce Initiative.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • LendingTree Launches Free Credit Monitoring.
  • eToro Raises $100 Million in Series E.
  • NICE Actimize Launches AI-Powered Financial Crime Investigation System.

Around the web

  • Hyperwallet tackles payments for staffing and recruiting platform tilr.
  • Compass Plus offers active-active database clustering on TranzAxis.
  • Steward Bank selects NetGuardians to help fight against fraud.
  • Kasasa named one of “2018 Best Places to Work in Financial Technology” by American Banker
  • CardFlight announces that over 80% of SwipeSimple merchants have been upgraded to EMV quick chip payment acceptance.
  • Revolut launches disposable virtual cards for online payments.
  • ACI Worldwide teams up with Shanghai-based UnionPay International.
  • IdentityMind Global announces GDPR-readiness ahead of the EU’s May 25th deadline.
  • MaxMyInterest adds former TD Ameritrade executive Tom Bradley to Advisory Board.
  • NICE Actimize unveils new AI-powered financial crime management solution, Actimize ACTone.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Signifyd Partners with Corra to Provide Guaranteed Fraud Protection for E-Commerce Merchants.

Around the web

  • Estonian financial group LHV to leverage technology from FICO to fight money laundering.
  • Klarna announces double-digit sales growth thanks to more retailers using the company’s solutions.
  • CNBC quotes MaxMyInterest head of business development and partnerships Michael Halloran on cash strategies for investors during times of market volatility.
  • Dynamics unveils enhanced functionality for its connected Wallet Card. See its latest demo at FinovateEurope next week.
  • TSYS Extends Existing Agreement with Capital One UK.
  • Mastercard to use Facebook Messenger to help small businesses in Africa and Asia drive mobile and electronic payments acceptance.
  • Worldline teams with Total to launch TOTAL eWallet.
  • FutureTech Podcast hosts Capitalise CEO Shahar Rabin on using natural language to automate trading strategies.
  • NopSec Awarded Most Innovative Cybersecurity Company 2018.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • IBM Launches Security Testing Services for IoT Developers.
  • TickSmith Lands $2 Million Investment from Illuminate Financial.
  • Layer’s New Messaging Design System Helps Create Perfect Conversational Experiences.

Around the web

  • Vantiv partners with Columbia Bank to provide new payment services to business customers.
  • Commerce Bank to offer AP and AR automated service, CashFlow Complete, powered by Bill.com.
  • Xero and Recurly team up in new integration that combines subscription management with cloud accounting.
  • Fintech Supercharger features an interview with Roman Stanek, Founder and CEO, GoodData.
  • BARC Score Data Discovery identifies MicroStrategy as a ‘Market Leader’ ranking #1 in “Platform Capabilities”
  • Chicago Tribune column on savvy saving highlights MaxMyInterest.
  • Village of Palos Park Introduces Passport’s Parking App.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.