Magazine : Archives : 4th Quarter 2017

The Secret Sauce Inside of Banking’s Top Stocks

When Gregory Garrabrants took over in 2007 as president and chief executive officer at BofI Holding, an 18-year-old internet banking pioneer, he brought with him the radical idea that a technology-centric business model didn’t have to sacrifice good customer service on the altar of high efficiency. Ten years ago, according to Garrabrants, the company was focused on an “extraordinarily low cost model” where the company wanted to have little, if any, in-person interaction with its customers, but instead push them entirely towards the bank’s online channel. “One of the things I wanted to do was have a very strong customer...