Axos Bank: More Than a Name Change
On October 1, 2018, as part of a multiyear program to fulfill our mission of banking evolved, BofI Federal Bank and Bank of Internet USA, along with most of our other brands including BofI Advisor, Bank X, NetBank, Apartment Bank, Annuitants Federal Bank, and Virtus Bank, were renamed Axos Bank.
Changing our name was only a small part of our comprehensive mission to better serve your needs. It was reflective of our evolution over the past 18 years and the culmination of many significant milestones. Launching our "Universal Digital Bank,"" expanding our products and services, establishing new partnerships, and leveraging modern technology have all led us to today — to banking evolved.
To understand where we are today, it helps to look back to where we started. From the beginning, our focus was on challenging the status quo and utilizing the available technology as a tool to provide better-value products.
It may be hard to imagine, but back in 2000 the idea of using the internet to provide banking services was unique. After all, Google had only been around for two years, and consumers would have to wait another seven years before the release of the first iPhone. However, using the internet as a delivery channel made sense to us.
On July 4, 2000, under the name Bank of Internet USA, we opened our doors as a digital bank.
Launching our bank on a holiday was also unique — yet purposeful. Selecting the Fourth of July holiday symbolized our independence from traditional banking. It also highlighted the fact that our customers would have access to their accounts any day of the week, any time of the day, including national holidays.
Growth, Products, and Partnerships
With solid growth over the next five years, we were poised for our next milestone. On March 31, 2005, we became a publicly traded company on the NASDAQ under BofI Holding (BOFI).
In the coming years we increased our checking and savings options, and expanded products and services into residential, commercial and industrial lending, structured settlements, deposit products for financial advisors, business banking products, and equipment financing. No coincidence that we were named one of Forbes' Fastest Growing Companies in America.
Launch of "Universal Digital Bank"
By 2016, we were ready to take on a new component — constructing our "Universal Digital Bank" — a consumer platform to deliver an enhanced banking experience to our customers. Successfully launched in the summer of 2018, it became the foundation for our mission of banking evolved.
Not one to rest on our achievements, we also added unsecured personal loans, auto loans, and services to bankruptcy trustees to our diverse range of products and services. Plus, a partnership with Nationwide to provide banking services to their customers was successfully negotiated.
The Selection of the "Axos" Brand
With all the other components falling into place, we began the process of designing a new brand. One that was reflective of our journey over the past 18 years and our promise to provide our customers with a better banking experience. After painstaking research and extensive testing, the name "Axos Bank" was selected.
The Axos brand aligns perfectly with our promise of "Banking Evolved."
As a technology-driven financial services company, our new brand is reflective of the diverse set of innovative products and services we offer to personal, business, and institutional clients throughout the nation.
What Does This Change Mean to You
You will enjoy the same account features — with some new enhancements. While a few product name changes can be expected, neither account numbers nor our routing number will change. You can continue to access your funds through your existing ATM and debit cards.
As Axos Bank, we will be providing you with new technologies for added convenience and customized products for a more personalized banking experience. We will remain focused on creating innovative digital tools, providing enhanced customer service, and establishing a diverse portfolio of strategic partnerships. All as a means to help you meet your financial needs.
Our Promise to You
From the beginning, we have epitomized financial strength, excellence in customer service, and innovation in banking. We remain committed to anticipating your needs, providing new technologies, and expanding our products and services to help you stay ahead of the challenges of modern life.
As Axos Bank, we will continue our mission of banking evolved.
Over the years, we have never lost sight of our commitment to innovation, lower fees, and award-winning customer service. We will provide you with the tools, information, and technology you need.
We have always believed you deserve a different kind of bank — a better kind of bank. That is what you can expect from us.
You can learn more about our diverse products and services by visiting Axos Bank.
Axos Bank: More Than a Name Change
This blog post was published by Axos Bank on October 24, 2018 and last updated on November 23, 2018.