Live Oak Bank Named to Bankrate’s List of Best Online Savings Accounts

WILMINGTON, N.C., May 03, 2018 -- Live Oak Bank has been named by BankRate.com as one of the nation’s best choices for online savings accounts. Live Oak’s high-yield online savings account was awarded the top ranking for the ease of use category.  

“We understand that customers today want easy-to-use, secure, high-yield online options for their personal savings and we work very hard to deliver an unprecedented banking experience for them,” said Mark Moroz, Live Oak’s director of deposits. “Through technology and service, we offer exceptional functionality for online personal savings and certificates of deposit with some of the most competitive rates in the country.”

Bankrate.com named its choices for best online savings accounts based on highest APYs, lowest fees and best ease of use. Live Oak was recognized for its “best in class” mobile and online experiences.

“Typically, the megabanks are seen as the organization with the kinds of resources and organizational heft needed to build great technology. Live Oak has partnered with financial tech giant First Data Corporation in a joint venture, named Apiture, to develop technology solutions for financial institutions and its customers,” said Neil Underwood, managing director of Canapi, Inc., the fintech investment arm of Live Oak Bancshares. “This is a key reason why users should have confidence Live Oak will continue to provide great digital tools to complement its high APYs.”

“The bank’s high-yield online savings account combines an excellent yield of 1.70 percent with very highly regarded online and mobile tools for managing the account,” according to Bankrate. “Live Oak Bank’s online and mobile tools have great functionality — all functions are available on both the app and the online portal — and get very high ratings from users for both the iOS and Android versions. Among other great features, like mobile check deposits, you can even view balances on external, non-Live Oak accounts on the bank’s app, a highly unusual feature.”

To learn more about saving with Live Oak Bank, visit www.liveoakbank.com/personal-banking/.

About Live Oak Bank
Live Oak Bank, a subsidiary of Live Oak Bancshares, Inc. (Nasdaq:LOB), is a digitally focused, FDIC-insured bank serving customers across the country. Live Oak brings efficiency and excellence to the banking process, without branches, by using a focused approach to technology and innovation. To learn more, visit www.liveoakbank.com.

Contact:
Micah Davis, Marketing Director
910.550.2255
[email protected]

Claire Parker, Senior Public Relations Manager
910.597.1592
[email protected]