Axos Financial

What Axos Financial does

Axos Financial, Inc. (NYSE: AX) is the holding company for Axos Bank, Axos Clearing LLC, and Axos Invest, Inc., operating as a digital-first, branchless financial services platform serving consumer, small business, broker-dealer, RIA, and retail investor segments nationwide. Founded in 2007 under CEO Gregory Garrabrants and rebranded from Bank of Internet USA in 2018, the company had approximately $29.2 billion in consolidated assets and $25.5 billion in loans as of March 31, 2026, supported by a 4.57% net interest margin maintained despite Federal Reserve rate cuts.

The platform combines a federally chartered savings bank (Axos Bank) with a digital investment advisor (Axos Invest) and a securities clearing and custody franchise (Axos Clearing) holding approximately $44.0 billion in assets under custody and administration. In 2025, Axos acquired Verdant Commercial Capital to expand into equipment finance, driving a 157.7% surge in non-interest income. The company distributes its products through digital channels, affinity partnerships with payroll and merchant services providers, and direct institutional relationships with introducing broker-dealers and registered investment advisor correspondents.

Revenue is generated primarily through net interest income from lending and deposit activities, supplemented by transaction and fee income from securities clearing, equipment finance, and digital investment advisory services. The business model relies on operational efficiency from a branchless architecture and Artificial Intelligence Operations initiatives to support competitive deposit pricing and to maintain credit discipline, evidenced by 192.2% allowance coverage of nonaccrual loans in the most recent reported quarter.

Name

Axos Financial

Legal name

Axos Financial, Inc.

Website

https://investors.axosfinancial.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Axos Financial (NYSE: AX) is a digital-first, branchless bank holding company operating Axos Bank, Axos Clearing, and Axos Invest with approximately $29.2 billion in consolidated assets, serving consumer, small business, broker-dealer, and retail investor segments nationwide through low-cost digital and affinity channels.

Ownership category

akta.pro rank

Product category

Digital Banking & Financial Services

NAICS

Depository Credit Intermediation (5221), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (523940)

SIC

Savings Institution, Federally Chartered (6035), Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Investment Advice (6282)

akta.pro primary industry

Digital Account Opening & Onboarding (eKYC, eSignature, Origination) (FSAGAAAB)

akta.pro secondary industries

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD)

Keywords

• Digital banking services
• Consumer banking products
• Securities clearing services
• Digital investment advisory
• Commercial equipment finance

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Interest income from lending activities minus interest paid on deposits and borrowings. Primary revenue driver from banking operations including consumer and commercial lending.
2. Securities Clearing Services: Axos Clearing LLC provides comprehensive securities clearing services to introducing broker-dealers and registered investment advisor correspondents. Revenue from transaction fees and custodial services.
3. Digital Investment Advisory: Axos Invest, Inc. provides digital investment advisory services to retail investors, generating fee-based revenue.
4. Equipment Finance: Verdant Commercial Capital equipment finance division contributing non-interest income including fee income from equipment leasing and financing.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Axos Financial is a digital-first holding company that delivers consumer and business banking products through Axos Bank, securities clearing and custody services to introducing broker-dealers and RIAs through Axos Clearing LLC, and digital investment advisory services to retail investors through Axos Invest, Inc. The company also operates equipment finance through the Verdant Commercial Capital division. All banking and deposit services are offered nationwide through low-cost, branchless digital distribution channels and affinity partners rather than physical branches.

Product overview

Axos Financial operates as a digital-first financial services holding company with a platform-plus-subsidiaries architecture. The core platform comprises three main operating subsidiaries: Axos Bank (consumer and business banking), Axos Clearing LLC (securities clearing and custody services with approximately $44.0 billion in assets under administration), and Axos Invest, Inc. (digital investment advisory). The company also includes acquired Verdant Commercial Capital for equipment finance. All banking services are delivered through digital-first, branchless distribution channels, with Axos Bank ranked as the 4th-highest performing publicly traded bank in 2025 by S&P Global among U.S. banks with greater than $10 billion in assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Axos Bank Consumer and Business Banking Consumer and business banking products delivered nationwide through digital-first distribution channels and affinity partners. Includes checking, savings, lending, and retirement accounts (including the $3.2 billion IRA portfolio acquired from Capital One) for individual consumers and small businesses.
• Axos Clearing LLC Securities Clearing and Custody Comprehensive securities clearing, custody, and back-office services delivered to introducing broker-dealers and registered investment advisor (RIA) correspondents. Includes the Axos Advisor Services business division. Holds approximately $44.0 billion in assets under custody and/or administration as of March 31, 2026.
• Axos Invest, Inc. Digital Investment Advisory Digital investment advisory and automated portfolio management services delivered to retail investors through digital platforms, generating fee-based revenue.
• Verdant Commercial Capital Equipment Finance Equipment finance division of Axos Bank offering equipment leasing and financing, generating fee income through transactions and equipment asset-backed securitizations. Acquired in 2025 and integrated into the loan portfolio.
• Multifamily Lending Program Real estate lending program through Axos Bank providing multifamily residential property financing to real estate developers and investors, supported by strategic capital partners.

Quantifiable outcome

• Net interest margin of 4.57% despite Federal Reserve rate cuts (Q3 FY26)
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered major, minor and core.

• Capital OnemajorOthers · 23 April 2026Axos Financial announced acquisition of $3.2 billion in IRAs (Individual Retirement Accounts) from Capital One, representing a significant deposit acquisition to support future organic loan growth.
• Amzak CapitalminorStrategic or Co-development Partner · 21 October 2025Axos Financial unit backed a $200 million financing facility with Amzak Capital to support multifamily lending activities, highlighting the company's focus on real estate lending through its banking segment.
• Payroll Service ProviderscoreChannel Partner/ Reseller/ DistributorStrategic partnerships with payroll providers are part of Axos Bank's small business ecosystem expansion, enabling integrated banking services for small business customers.
• Merchant Services ProviderscoreChannel Partner/ Reseller/ DistributorStrategic partnerships with merchant services specialists support the bank's small business ecosystem, providing integrated payment and banking solutions.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Ally Financial: Direct-to-consumer digital-first bank with no physical branches, offering consumer deposits, auto lending, and mortgage products nationally. Highly comparable to Axos on digital distribution model, deposit-gathering strategy, and consumer/SMB banking focus.
• SoFi Technologies: National chartered digital bank offering consumer banking, lending, and investment services through a mobile-first platform. Direct competitor to Axos in digital consumer deposits and personal lending with similar branchless operating model.
• Discover Financial Services: Direct bank with no traditional branches, providing deposit products, personal lending, and card services nationwide. Comparable to Axos on branchless deposit-gathering model and diversified fee-income streams.
• Live Oak Bancshares: Digital-first community bank focused on small business lending and deposits, with nationwide reach. Comparable to Axos's small business banking segment (40,000+ SMB customers, $1B in SMB deposits) and digital distribution strategy.
• Customers Bancorp: Digital-forward commercial and consumer bank with strong commercial lending and deposit franchises. Comparable to Axos on digital-first commercial banking growth and similar balance sheet scale.
• First Internet Bancorp: Pure-play digital bank offering consumer and small business banking products nationwide without physical branches. Closely mirrors Axos's branchless model and online deposit-gathering approach.

Emerging players

• LendingClub: Digital lending and banking platform focused on consumer credit and small business banking. Comparable to Axos on digital lending and deposit products, though more focused on marketplace lending than full-service banking.

Broad incumbents

• Charles Schwab: Large incumbent brokerage and custodian operating securities clearing, custody, and investment advisory services. Directly comparable to Axos Clearing LLC's ($44B AUC) and Axos Invest's business model, though at much larger scale.
• Capital One: Major diversified bank with strong consumer card and digital banking franchises. Comparable to Axos on digital-first consumer banking and a counterparty in the pending $3.2B IRA portfolio sale to Axos.
• Bank of New York Mellon: Global custodian and clearing provider for institutional broker-dealers and RIAs. Comparable to Axos Clearing's custody/clearing services business, though at vastly greater scale and breadth.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/axos-financial

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Axos Financial