BofI Federal Bank

What BofI Federal Bank does

Axos Bank (formerly BofI Federal Bank) is a US nationwide, FDIC-insured digital bank headquartered in San Diego, founded in 2000 and rebranded to Axos Bank in 2019, operating as a wholly-owned subsidiary of publicly traded Axos Financial, Inc. (NYSE: AX). The bank runs a pure direct-to-consumer digital model with no physical branch network, delivering consumer and small business banking, commercial lending, fiduciary and treasury services, and securities brokerage/advisory products through its website and mobile application.

Its core product suite spans the Axos ONE Checking and Savings bundle (promotional APYs up to 0.51% and 4.21% respectively), personal lending (mortgages, personal loans, auto loans, marine loans), small business banking, and an extensive commercial book including equipment finance, lender financing, small balance commercial real estate, mortgage warehouse lending, and bridge and construction lending. Specialized commercial verticals include technology and life sciences banking, hedge fund and alternative fund banking, and global fiduciary banking. Investment services are delivered through wholly-owned subsidiaries Axos Invest LLC (FINRA/SIPC broker-dealer) and Axos Invest, Inc. (SEC-registered RIA), offering Managed Portfolios and Self-Directed Trading. The underlying platform is a digital banking stack with a unified mobile app, biometric authentication (fingerprint, voiceprint, facial recognition), IntraFi-powered extended FDIC coverage up to $265MM through InsureGuard+ Savings, and dedicated partner portals for wholesale/correspondent lending and dealer services.

The revenue model is primarily spread-based interest income on loans and securities, supplemented by deposit-related fees, treasury management fees, equipment finance margins, warehouse lending economics, and recurring brokerage/advisory revenue from Axos Invest. Distribution is exclusively self-serve digital across consumer, small business, commercial, and partner segments, with award recognition (The Ascent, MyBankTracker, Millennial Money) used as top-of-funnel brand signals and a customer referral program supporting mid-funnel conversion.

Name

BofI Federal Bank

Legal name

Axos Bank

Website

https://bofifederalbank.com

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Axos Bank (formerly BofI Federal Bank) is a US FDIC-insured digital bank offering consumer checking and savings, mortgages, personal and auto loans, small business and commercial lending, and investment services through its website and mobile app.

Ownership category

akta.pro rank

Product category

Online Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), Functions Related To Depository Banking, Nec (6099)

akta.pro industry

PRIMARYFSABAFAA

Retail-focused Neobanks (Mass Market)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Digital/Challenger Banks (Neobanks)

SECONDARYFSABAAAA

Mass-Market Consumer Deposit Banking (Checking/Savings)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Retail Banking

SECONDARYFSAGALAE

Embedded Deposit Accounts & Digital Wallet Infrastructure

Financial & Insurance/Financial Technology (Fintech)/Embedded Finance & Banking-as-a-Service (BaaS)

Keywords

• Digital banking services
• Online savings accounts
• Commercial lending solutions
• Mortgage warehouse lending
• Specialty finance banking

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Traditional banking revenue from interest earned on loans (mortgages, personal loans, auto loans, commercial loans) and other credit products extended to customers
2. Deposit Account Fees: Fee-based revenue from deposit accounts, including potential overdraft fees, wire transfer fees, and other account service charges (though promotional messaging emphasizes no monthly maintenance fees)
3. Investment Services: Brokerage and advisory services offered through Axos Invest LLC (Member FINRA & SIPC) and Axos Invest, Inc. (SEC-registered investment adviser), including Managed Portfolios and Self-Directed Trading
4. Commercial Banking Services: Commercial lending, equipment finance, lender financing, small balance commercial real estate, mortgage warehouse lending, bridge and construction lending, treasury management, and specialized banking services for hedge funds, technology companies, and life sciences

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

BofI Federal Bank (now Axos Bank) is a digital-first nationwide bank providing personal and commercial banking, lending, and investment services entirely through online and mobile channels. The bank offers consumer deposit products, mortgages, consumer loans, business banking, commercial lending, specialty finance, and self-directed and managed investment services to individuals and businesses across the United States.

Product overview

Axos Bank operates as a digital-first online bank offering a comprehensive suite of banking, lending, and investment products. The platform provides personal banking through Axos ONE® Checking and Savings accounts (earning up to 4.21% APY on savings), along with mortgages, personal loans, auto loans, and marine loans. Investment services include Managed Portfolios and Self-Directed Trading through Axos Invest. Business banking encompasses small business checking and savings, while commercial banking includes specialized lending (equipment finance, commercial real estate, mortgage warehouse lending, bridge and construction lending) and services (treasury management, global fiduciary banking, technology and life sciences banking, hedge fund banking). The bank also maintains wholesale/correspondent lending and dealer services partnerships. All services are accessible via the Axos Mobile App and online banking platforms.

Differentiator

Problem solved

Functional benefit

Brands

• Axos ONE: Checking and savings account with up to 4.21% APY promotional rate on savings.
• Axos Invest
• Axos InvestGuard+

Products and services

• Axos ONE® Checking Flagship digital consumer checking account offered under the Axos Bank brand, providing online checking services for individual customers.
• Axos ONE® Savings High-yield online savings account for individual consumers, offering competitive interest rates up to 4.21% APY with no monthly fees, FDIC insured with InsureGuard+ coverage.
• Premier Banking with InsureGuard+ Premium banking package offering expanded FDIC insurance coverage through InsureGuard+ deposit insurance and personalized banking services for higher-balance individual customers.
• Mortgages Residential mortgage loan products for individual homebuyers, applied for and serviced through the bank's online platform.
• Personal Loans Unsecured personal loan products for individual borrowers, originated and serviced online.
• Auto Loans Consumer auto loan financing for individuals purchasing vehicles, available through direct and dealer channels.
• Marine Loans Recreational marine and boat financing for individual consumers, providing loans for new and used boat purchases.
• Managed Portfolios Professionally managed investment portfolio service for individual investors, providing diversified asset allocation through an online platform.
• Self-Directed Trading Self-directed online brokerage service allowing individual investors to trade equities, ETFs, and other securities on their own.
• Business Checking Accounts Online business checking accounts for small and mid-sized businesses, providing digital deposit and payment services.
• Business Savings Accounts Interest-bearing online business savings accounts for small and mid-sized businesses to hold operating reserves.
• Commercial Lending Broad commercial lending services for mid-market and enterprise clients, including commercial real estate, construction, and corporate lending facilities.
• Equipment Finance Equipment financing solutions for businesses needing to finance the acquisition of capital equipment and machinery.
• Lender Finance Specialty finance product providing financing facilities to other lenders and finance companies.
• Small Balance Commercial Real Estate Small balance commercial real estate loan products for smaller commercial property borrowers and investors.
• Mortgage Warehouse Lending Warehouse credit facilities for independent mortgage bankers, providing short-term funding for residential mortgage originations.
• Commercial Real Estate Bridge & Construction Lending Bridge and construction financing for commercial real estate developers and investors, providing interim and development capital.
• Treasury Management Treasury and cash management services for commercial clients, including payment, collections, liquidity, and information reporting solutions.
• Technology and Life Sciences Banking Specialized banking and lending services for technology and life sciences companies, including venture debt, growth financing, and depository services.
• Hedge Funds & Alternative Fund Banking Solutions Banking, custody, and lending services for hedge funds and alternative investment funds, including capital call and subscription line facilities.
• Global Fiduciary Banking Banking services for global fiduciary and corporate clients, including depository, escrow, and cash management solutions for trusts and agencies.
• Wholesale Lending Wholesale lending services delivering financing facilities to partner lenders and financial institutions.
• Dealer Services Indirect lending services through dealer partners for consumer auto and marine loans, providing point-of-sale financing solutions.
• Axos Mobile App Proprietary mobile banking application for iOS and Android enabling customers to manage accounts, deposit checks, transfer funds, and access biometric authentication.

Quantifiable outcome

• 4.21% APY on Axos ONE Savings account
• +3 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered minor.

• FINRA (Financial Industry Regulatory Authority)minorOthersRegulatory membership for securities brokerage services through Axos Invest LLC, Member FINRA & SIPC. Required regulatory relationship for broker-dealer operations.
• SEC (Securities and Exchange Commission)minorOthersRegulatory registration for investment advisory services through Axos Invest, Inc., an SEC-registered investment adviser. Required regulatory relationship for advisory operations.
• SIPC (Securities Investor Protection Corporation)minorOthersSecurities protection through SIPC for Axos Invest LLC client accounts, covering cash and securities up to $500,000 with a $250,000 limit for cash. Required protection for brokerage operations.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Direct peers

• Marcus by Goldman Sachs: Goldman Sachs's consumer bank offers high-yield online savings and personal loans through a digital-only model — a direct competitor in retail digital deposits and unsecured consumer lending.
• SoFi Technologies: SoFi operates a full-stack digital bank (now a bank holding company) spanning deposits, lending, investing, and personal loans — the most aggressive direct competitor to Axos's unified personal-finance app positioning.
• Ally Bank: Ally is a leading U.S. digital-only bank offering high-yield savings, checking, auto lending, mortgages, and investing — the closest analog to Axos in retail digital banking with a national brand and similar product breadth.
• Discover Bank: Discover's banking arm is a digital-first deposit franchise offering savings, checking, CDs, and personal loans, with cross-sell into Discover's credit-card and student-loan ecosystem — directly comparable business model to Axos.
• Synchrony Bank: Synchrony operates a digital deposit-gathering platform (high-yield savings, CDs) and is a major private-label and consumer lender — directly comparable to Axos's deposit-plus-consumer-lending model.

Regional players

• Customers Bancorp / BankMobile: Customers Bancorp is a digitally-oriented commercial and consumer bank with a strong focus on warehouse lending, healthcare banking, and digital consumer banking — comparable niche overlap with Axos's warehouse lending and digital retail book.

Broad incumbents

• Capital One: Capital One's 360 Performance Savings and Capital One Bank provide a digital deposit franchise with consumer and small-business lending — a broader incumbent that competes across Axos's core retail and SMB banking lines.
• Charles Schwab Bank: Schwab operates a large online deposit franchise tied to its brokerage sweep business and offers mortgages and lending. Overlaps with Axos on digital deposits, mortgages, and the Axos Invest brokerage offering, but at much larger scale.

Emerging players

• LendingClub Bank: LendingClub operates a digital banking platform focused on consumer lending and high-yield deposits — a smaller, emerging direct peer with similar digital-first deposit-plus-lending mechanics.

Others

• IntraFi Network Deposits: IntraFi is the partner that enables Axos's InsureGuard+ Savings offering (up to $265MM FDIC coverage). It is an enabling infrastructure provider rather than a competitor, but the relationship is commercially significant to Axos's premium deposit positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/BofIFederalBank
• Facebookfacebook.com/BofiFederalBank
• LinkedInlinkedin.com/company/bofi-federal-bank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about BofI Federal Bank