Unifimoney offers interest-bearing checking account via UMB

Source: Unifimoney

Unifimoney Inc. (Unifimoney), a new FinTech venture that integrates and automates saving, spending and investing serving high earning Millennials, has selected leading U.S. program bank UMB Bank for their insured bank deposit and payment integration services.

Unifimoney allows users to deposit their funds in a high-interest checking account provided by UMB Bank - a hybrid account that means that 100% of consumer's funds are earning maximum interest 100% of the time. There are over $2 trillion held in checking accounts in the U.S. earning little or no interest for consumers. Unifimoney solves this problem and helps consumers maximize their return on their own money effortlessly.

Ben Soppitt, founder and CEO of Unifimoney said, “The combination of UMB Bank’s scale and ability to flexibly partner with innovative FinTech firms like us to create radically new value propositions made them the clear choice to work with.”

Doug Pagliaro, SVP and Executive Director of the FDIC Sweep program at UMB Bank added, “UMB is honored to be working with a company like Unifimoney that is focused on delivering a single solution for everyday money management. We pride ourselves in both our legacy offerings and our ability to help build for the future as a catalyst of innovation in the market. Our partnership with Unifimoney is a great illustration of that and helps UMB Bank broaden our distribution channel within FinTech by providing banking services and sweep offerings.”

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