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Axos Financial Inc's Business Segments
Axos Financial Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of FY
Reportable Segments
5
Largest Segment
Advisory fee income
Total Revenue
$ 362
Regions Reported
-
Revenue Share by Reportable Segment - FY
- Advisory fee income9.9%
- Broker Dealer Clearing Fees6.7%
- Card Fees and Other2.8%
- Deposit service fees2.3%
- Technology and service fees0.7%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Advisory fee income | $ 36 | 9.9% |
| Broker Dealer Clearing Fees | $ 24 | 6.7% |
| Card Fees and Other | $ 10 | 2.8% |
2 more segments available
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Annual Results
Revenue Share by Reportable Segment - FY
- Advisory fee income9.9%
- Broker Dealer Clearing Fees6.7%
- Card Fees and Other2.8%
- Deposit service fees2.3%
- Technology and service fees0.7%
Revenue by Reportable Segment - FY
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Advisory fee income | $ 36 | 9.9% |
| Broker Dealer Clearing Fees | $ 24 | 6.7% |
| Card Fees and Other | $ 10 | 2.8% |
2 more segments available
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Description of Axos Financial Inc
Axos Financial Inc., formerly known as BofI Holding Inc., is a financial technology company that offers a wide range of financial products and services. Its business operations can be categorized into the following areas:
1. Banking: Axos operates as a digital bank and offers various banking services, including checking accounts, savings accounts, certificates of deposit (CDs), money market accounts, and individual retirement accounts (IRAs). It also provides online banking platforms and mobile banking apps for customers to manage their accounts conveniently.
2. Lending: The company offers lending services to consumers and businesses, including mortgage loans, home equity lines of credit, auto loans, and personal loans. It also provides loans to small and medium-sized businesses through business lines of credit, equipment financing, and commercial real estate loans.
3. Wealth Management: Axos offers wealth management and investment services to individuals and institutions. It provides access to a range of investment products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds, and retirement accounts. Additionally, it offers financial planning and advisory services to help clients achieve their investment goals.
4. Treasury Management: The company provides treasury management services to businesses, focusing on optimizing cash flow and enhancing liquidity. This includes services such as remote deposit capture, merchant card services, automated clearinghouse (ACH) payment processing, and lockbox services.
5. Specialty Finance: Axos engages in specialty finance operations, primarily through its subsidiary Axos Clearing LLC. It offers clearing, settlement, custody, and execution services for financial advisors and broker-dealers.
6. Commercial Banking: Axos offers commercial banking services to businesses of all sizes. This includes business checking accounts, savings accounts, treasury management services, business lending, and corporate finance solutions.
Institutional Banking: The company serves institutional clients, including government entities, nonprofit organizations, and professional service firms, by providing tailored banking and financial services to meet their specific needs.
Overall, Axos Financial Inc. operates as a digital bank and financial services provider, catering to both individual and institutional clients with a focus on leveraging technology to enhance convenience and efficiency in banking and finance.
1. Banking: Axos operates as a digital bank and offers various banking services, including checking accounts, savings accounts, certificates of deposit (CDs), money market accounts, and individual retirement accounts (IRAs). It also provides online banking platforms and mobile banking apps for customers to manage their accounts conveniently.
2. Lending: The company offers lending services to consumers and businesses, including mortgage loans, home equity lines of credit, auto loans, and personal loans. It also provides loans to small and medium-sized businesses through business lines of credit, equipment financing, and commercial real estate loans.
3. Wealth Management: Axos offers wealth management and investment services to individuals and institutions. It provides access to a range of investment products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds, and retirement accounts. Additionally, it offers financial planning and advisory services to help clients achieve their investment goals.
4. Treasury Management: The company provides treasury management services to businesses, focusing on optimizing cash flow and enhancing liquidity. This includes services such as remote deposit capture, merchant card services, automated clearinghouse (ACH) payment processing, and lockbox services.
5. Specialty Finance: Axos engages in specialty finance operations, primarily through its subsidiary Axos Clearing LLC. It offers clearing, settlement, custody, and execution services for financial advisors and broker-dealers.
6. Commercial Banking: Axos offers commercial banking services to businesses of all sizes. This includes business checking accounts, savings accounts, treasury management services, business lending, and corporate finance solutions.
Institutional Banking: The company serves institutional clients, including government entities, nonprofit organizations, and professional service firms, by providing tailored banking and financial services to meet their specific needs.
Overall, Axos Financial Inc. operates as a digital bank and financial services provider, catering to both individual and institutional clients with a focus on leveraging technology to enhance convenience and efficiency in banking and finance.
Axos Financial Inc. is a diversified financial services organization that provides a variety of segments, products, and services catering to both individual and institutional clients. The company operates through several key business segments, including banking, mortgage, and investment services. Below is an extensive overview of each segment and its offerings:
1. Banking Services
1.1 Online Banking
Axos Bank, a division of Axos Financial, offers a range of online banking products designed to provide convenience and competitive rates with minimal fees. Services in this segment typically include:
- Checking Accounts: Axos offers various checking account options, such as interest-bearing accounts, fee-free checking, and checking designed specifically for students, providing customers with flexibility and features such as no monthly maintenance fees and ATM access.
- Savings Accounts: The bank provides high-yield savings accounts with competitive interest rates, no maintenance fees, and features like online account management and mobile banking.
- Money Market Accounts: Axos offers money market accounts that typically feature higher interest rates than regular savings accounts, along with check-writing capabilities and debit card access.
- Certificates of Deposit (CDs): Axos Bank offers various CD options with competitive interest rates and different term lengths, allowing customers to choose based on their savings needs.
1.2 Personal Loans
Axos provides personal loans for various purposes, such as debt consolidation, home improvement, or unexpected expenses. This segment typically emphasizes flexible terms, competitive rates, and straightforward application processes.
1.3 Business Banking
Axos Bank also caters to small and medium-sized enterprises (SMEs) with tailored banking solutions, including:
- Business Checking and Savings Accounts: Designed for business owners, these accounts offer features like online services, low fees, and access to credit services.
- Merchant Services: Includes payment processing solutions that enable businesses to accept credit card and electronic payments conveniently.
- Business Loans and Lines of Credit: Axos provides financing solutions to assist businesses in managing cash flow, purchasing equipment, or expanding operations.
Mortgage Services
Axos Mortgage specializes in home loans and offers various products, including:
- Conventional Loans: Fixed-rate and adjustable-rate mortgage options catering to different borrower needs, including first-time homebuyers.
- FHA and VA Loans: Government-backed loans that provide flexible credit requirements and lower down payment options for qualifying buyers.
- Refinance Options: Axos offers refinancing services for existing homeowners seeking to lower their monthly payments or tap into home equity.
- Home Equity Lines of Credit (HELOCs): Credit lines based on home equity that provide borrowers with flexible access to funds for renovations, education, or other financial needs.
Investment Services
In addition to banking and mortgage services, Axos Financial includes investment services through Axos Invest:
- Wealth Management: Offers various wealth management solutions, focusing on personalized investment strategies.
- Robo-Advisory Services: Automated investment platforms that create and manage diversified portfolios for clients based on their risk tolerance and investment goals, often with lower fees than traditional advisory services.
- Brokerage Services: Axos provides self-directed trading accounts for individual investors looking to manage their own investment portfolios in various securities, including stocks, bonds, ETFs, and mutual funds.
- Retirement Accounts: Offers IRAs (Individual Retirement Accounts) to assist individuals in saving for retirement, with tax advantages that help maximize the growth of investment funds.
Technology and Innovation
Axos Financial places a significant emphasis on leveraging technology to enhance its service offerings:
- Mobile Banking Applications: User-friendly apps that provide customers with easy access to their accounts, allowing them to conduct banking transactions, pay bills, and manage investments on-the-go.
- Digital Platforms: Advanced digital infrastructures that ensure security and facilitate seamless access to a variety of financial products and services.
- Data-Driven Insights: Utilizing data analytics to deliver personalized financial advice and tailored product recommendations to clients.
Customer Service & Support
Axos Financial prides itself on customer support, offering various channels for assistance, including:
- 24/7 Customer Support: Availability of round-the-clock support through phone, chat, and email, ensuring that clients can receive help whenever needed.
- Financial Education Resources: Axos provides educational materials and tools for customers to better understand financial products, investment strategies, and money management.
Conclusion
Overall, Axos Financial Inc. offers a comprehensive range of banking, mortgage, and investment services that cater to diverse customer needs. The company continues to innovate and adapt to the evolving financial landscape, utilizing technology to enhance customer experiences and expand its market reach.
1. Banking Services
1.1 Online Banking
Axos Bank, a division of Axos Financial, offers a range of online banking products designed to provide convenience and competitive rates with minimal fees. Services in this segment typically include:
- Checking Accounts: Axos offers various checking account options, such as interest-bearing accounts, fee-free checking, and checking designed specifically for students, providing customers with flexibility and features such as no monthly maintenance fees and ATM access.
- Savings Accounts: The bank provides high-yield savings accounts with competitive interest rates, no maintenance fees, and features like online account management and mobile banking.
- Money Market Accounts: Axos offers money market accounts that typically feature higher interest rates than regular savings accounts, along with check-writing capabilities and debit card access.
- Certificates of Deposit (CDs): Axos Bank offers various CD options with competitive interest rates and different term lengths, allowing customers to choose based on their savings needs.
1.2 Personal Loans
Axos provides personal loans for various purposes, such as debt consolidation, home improvement, or unexpected expenses. This segment typically emphasizes flexible terms, competitive rates, and straightforward application processes.
1.3 Business Banking
Axos Bank also caters to small and medium-sized enterprises (SMEs) with tailored banking solutions, including:
- Business Checking and Savings Accounts: Designed for business owners, these accounts offer features like online services, low fees, and access to credit services.
- Merchant Services: Includes payment processing solutions that enable businesses to accept credit card and electronic payments conveniently.
- Business Loans and Lines of Credit: Axos provides financing solutions to assist businesses in managing cash flow, purchasing equipment, or expanding operations.
Mortgage Services
Axos Mortgage specializes in home loans and offers various products, including:
- Conventional Loans: Fixed-rate and adjustable-rate mortgage options catering to different borrower needs, including first-time homebuyers.
- FHA and VA Loans: Government-backed loans that provide flexible credit requirements and lower down payment options for qualifying buyers.
- Refinance Options: Axos offers refinancing services for existing homeowners seeking to lower their monthly payments or tap into home equity.
- Home Equity Lines of Credit (HELOCs): Credit lines based on home equity that provide borrowers with flexible access to funds for renovations, education, or other financial needs.
Investment Services
In addition to banking and mortgage services, Axos Financial includes investment services through Axos Invest:
- Wealth Management: Offers various wealth management solutions, focusing on personalized investment strategies.
- Robo-Advisory Services: Automated investment platforms that create and manage diversified portfolios for clients based on their risk tolerance and investment goals, often with lower fees than traditional advisory services.
- Brokerage Services: Axos provides self-directed trading accounts for individual investors looking to manage their own investment portfolios in various securities, including stocks, bonds, ETFs, and mutual funds.
- Retirement Accounts: Offers IRAs (Individual Retirement Accounts) to assist individuals in saving for retirement, with tax advantages that help maximize the growth of investment funds.
Technology and Innovation
Axos Financial places a significant emphasis on leveraging technology to enhance its service offerings:
- Mobile Banking Applications: User-friendly apps that provide customers with easy access to their accounts, allowing them to conduct banking transactions, pay bills, and manage investments on-the-go.
- Digital Platforms: Advanced digital infrastructures that ensure security and facilitate seamless access to a variety of financial products and services.
- Data-Driven Insights: Utilizing data analytics to deliver personalized financial advice and tailored product recommendations to clients.
Customer Service & Support
Axos Financial prides itself on customer support, offering various channels for assistance, including:
- 24/7 Customer Support: Availability of round-the-clock support through phone, chat, and email, ensuring that clients can receive help whenever needed.
- Financial Education Resources: Axos provides educational materials and tools for customers to better understand financial products, investment strategies, and money management.
Conclusion
Overall, Axos Financial Inc. offers a comprehensive range of banking, mortgage, and investment services that cater to diverse customer needs. The company continues to innovate and adapt to the evolving financial landscape, utilizing technology to enhance customer experiences and expand its market reach.