In a world where digital banking continues to redefine convenience and accessibility, fintech companies like Marygold & Co. are emerging to revolutionize how individuals manage their finances. With a focus on simplicity, transparency, and innovative technology, Marygold & Co. aims to provide a seamless banking experience that meets the diverse needs of today’s consumers through their cutting-edge mobile app.

Unlike traditional banking institutions, Marygold & Co. offers a secure platform designed to empower users with complete control over their financial transactions. From sending and receiving funds to effortless spending and strategic savings through customizable Money Pools, Marygold & Co. sets a new standard in modern banking. With no minimum requirements, surprise fees, or credit checks, the company ensures a straightforward approach to managing money, making financial empowerment accessible to all.

We at CIO Bulletin had the privilege of interviewing Timothy Rooney, President of Marygold & Co. During the interview, he shared insights on how his company is providing clients with a robust banking and financial services app crafted for today’s needs.

Interview Highlights

Q. What inspired the founding of Marygold & Co., and what key problem did you aim to solve in the financial technology sector? How did you decide on the name “Marygold & Co.” and what significance does it hold?

Marygold & Co. was founded by people with many decades of experience in the financial services industry. One thing we know for certain is that managing your money doesn’t have to be hard. It is only because entrenched actors benefit from FUD (fear, uncertainty, and doubt) and the way our financial services have been built over the decades that we are stuck in a world dominated by paper and filled with obfuscation. Technology allows us to simplify all aspects of personal money management. We can do things better and cheaper than the largest providers.

By virtualizing payments, savings, banking, and investing, we can combine all the services anyone would need to organize their financial life in one easy-to-use app on your phone. This is not a novel concept, but by starting from scratch with a clean slate and building everything in-house, we’ve been able to answer the age-old question—what if?—and leapfrog legacy organizations to provide the type of service only high-net-worth clients could previously get at a private bank.

“Marygold” is the original spelling of the marigold flower. The flower got its name from pious people who wanted to pray to Mary but didn’t have money to leave as an offering. So, they left little golden flowers at her feet in their church; Mary’s gold, or Marygold.

Q. Can you provide an overview of the core products and services that Marygold & Co. offers to its customers?

Marygold & Co. offers no minimum banking, spending, management, and investment tools for the everyday person. With built-in budgeting trackers, money transfer options, and customizable “Money Pools” for investing and saving towards your goals, Marygold & Co. was created to be a one-stop shop to help our clients manage their financial lives.

Q. The Marygold & Co. app offers features like PayAnyone^® and Tap & Pay. How do these features enhance the user experience, and what feedback have you received from customers?

These features have been very positively received by our clients. PayAnyone^® and Tap and Pay are safe, easy ways to spend or send your money however you want to. We wanted to empower our clients to use their money however they like, and these features help them achieve that. Our PayAnyone^® feature allows you to send money to anyone in your life, even if they do not have the Marygold & Co. app.

Q. How does Marygold & Co. ensure compliance with financial regulations and standards, especially concerning the FDIC insurance and network banks?

We like to say that we are a “belt and suspenders company” when it comes to regulatory compliance. Since we offer banking and investment products, we are in two highly regulated industries. Marygold & Co. is dedicated to continuing to be compliant with financial regulations and standards by keeping employees trained on all aspects of retail financial services, including anti-money laundering and cybersecurity protocols. Additionally, our internal teams are committed to maintaining state-of-the-art security and safety features in the app.

Q. Security is paramount in fintech. What industry-leading security features does Marygold & Co. employ to ensure user data and transactions are safe?

As a fintech, we have utilized state-of-the-art technology to build a cutting-edge vault that houses our clients’ personal information. We have also partnered with a few best-of-breed “white hat” security firms to ensure that our data is always protected from bad actors. We see this as a competitive advantage, so we share very few details outside the company.

Within the app, there are also multiple features that allow clients to choose their level of security, from biometric logins to online purchasing safety options and customized spending limits.

Q. How does Marygold & Co. ensure its services are accessible to a diverse range of customers, including those who may not have traditional banking relationships?

From our very beginning, it has been important to us to provide value to anyone in America who would like assistance managing their financial life, and we have built the company with that focus. Marygold & Co. is accessible to a wide range of potential clients, including those who may not have traditional banking relationships. We do not require credit checks to be approved for an account, nor do we require account minimums to avoid fees. We allow users to sign up with a driver’s license, passport, or government-issued state ID card, allowing a wide range of potential clients to easily sign up for services.

Q. What industry trends do you anticipate will shape the future of fintech, and how is Marygold & Co. positioning itself to stay ahead of these trends?

Mobile banking is definitely not going away anytime soon, and in fact, it is only becoming more common with time. The future of fintech will focus on making money movement easier and more seamless, and integrating security features that keep clients’ money safe. With the continued implementation of digital financial tools come opportunities for security breaches. We’re committed to continuing to innovate in the fintech space and adding features that make financial management easier for our clients, while also ensuring that their security and safety are top priorities.

Q. Where do you see Marygold & Co. in the next five years, and what milestones are you aiming to achieve?

We are excited about our early success and have huge expectations for Marygold & Co. in the future. We’re thrilled to continue adding new and innovative features that will make our clients’ financial lives easier and allow them to manage their finances with confidence. Managing your financial life does not need to be complicated, and we are showing our clients that, with just a few nudges here or there from us, they can manage all aspects of their financial lives with ease. Our audacious goal is to provide the products and services that our clients need to manage the financial lives of all family members, so the list is quite long. We are looking forward to expanding our user base and providing the tools that all clients can use to feel confident in managing their financial lives.

The Visionary Leader behind Marygold & Co.’s Success

Timothy Rooney, the President of Marygold & Co., brings over 30 years of experience in building and supporting companies entering new markets within the financial services industry. Throughout his career, he has successfully established Exchange-Traded Fund companies, mutual fund companies, and retirement plan businesses. Now, leveraging his extensive knowledge and expertise, Timothy is dedicated to launching Marygold & Co. to demonstrate to clients that managing their financial lives can be straightforward and cost-effective with the right support!

“We’re committed to continuing to innovate in the fintech space and adding features that make financial management easier for our clients, while also keeping their security and safety top of mind.”