Veritex Community Bank Partners with MaxMyInterest to Offer FDIC-Insured High-Yield Savings Accounts » Veritex Community Bank
December 20, 2023 at 05:27 am EST
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The new partnership provides highly competitive yield and increased FDIC insurance to Max's rapidly growing client base
Dallas, TEXAS and New York, NEW YORK - Veritex Community Bank (Veritex), the banking subsidiary of Veritex Holdings Inc. (NASDAQ: VBTX), today announced it has joined the MaxMyInterest (Max) platform, offering clients access to high-yield savings accounts that open in as little as 60 seconds.
Max is an innovative and intelligent cash management platform for individual investors and financial advisors that helps investors allocate cash balances among multiple bank accounts to ensure increased FDIC insurance coverage with the highest available yield.
"We attribute so much of Veritex's continued growth to our powerful combination of digital prowess and client-first emphasis around truth and transparency. Our partnership with MaxMyInterest, an industry leader in cash management, will help us manage deposits and attract new customers," said Veritex CEO Malcolm Holland.
Max's patented instant account-opening technology is a significant differentiator, making it easy for households to discover and open new banking relationships with Veritex. The Max platform offers quick and easy enrollment, enabling up to $2 million in FDIC insurance coverage for individuals and $8 million for couples.
"We're thrilled to welcome Veritex Community Bank, a leading and fast-growing bank in Texas, to Max," said Gary Zimmerman, CEO of MaxMyInterest. "The addition of Veritex Community Bank to the Max platform enables us to provide our members with more options for optimizing their savings, with increased FDIC insurance coverage, same-day liquidity, and industry-leading rates."
The Max platform also makes it easy for financial advisors to help their clients earn the highest yields in the country, while keeping their cash safe and liquid in their own bank accounts.
About Veritex
Headquartered in Dallas, Veritex Holdings Inc. is a bank holding company that conducts banking activities through its wholly owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state-chartered bank regulated by the Texas Department of Banking, Consumer Financial Protection Bureau, and the Federal Reserve System. Veritex specializes in providing depository and credit services to small and mid-size businesses, which have been largely neglected by national banks. The name "Veritex" is derived from the Latin word "veritas," meaning truth, and "Texas." For more information, visit www.veritexbank.com. Member FDIC.
About MaxMyInterest
MaxMyInterest ("Max"), a service of Six Trees Capital LLC, offers intelligent cash management solutions for individuals and financial advisors that enable individual investors to earn dramatically higher yields on cash. Max's patented technology helps clients reallocate funds among their checking and high-yield savings accounts to earn the highest yield while keeping their funds safe in their own FDIC-insured bank accounts. Today, Max members can access rates up to 5.36% on FDIC-insured deposits, compared to the national savings average of 0.46%. Max is available to individuals at MaxMyInterest.com, and can also be integrated into wealth management platforms, so that banks, brokerage firms, registered investment advisors, multi-family offices, and fintechs can deliver better cash solutions to their clients. Max benefits banks by helping them attract direct customer relationships and deposits without spending money on advertising or referral fees.
Veritex Holdings, Inc. is a bank holding company. The Company conducts banking activities through its wholly owned subsidiary, Veritex Community Bank (the Bank), a Texas state bank, which provides a full range of banking services, including commercial and retail lending and checking and savings deposit products, to individual and corporate customers. It operates through the community banking segment. The Bank provides relationship-driven commercial banking products and services tailored to meet the needs of small to medium-sized businesses and professionals. It offers online banking solutions, including access to account balances, online transfers, online bill payment and electronic delivery of customer statements, as well as ATMs, and mobile and digital banking, mail and personal appointments. It also offers debit cards, night depository, direct deposit, cashierâs checks and letters of credit. It also offers a full array of commercial treasury management services.
VERITEX HOLDINGS, INC. 
