Digital savings platforms offer high-yield savings accounts through online-only models, passing on cost savings to customers in the form of competitive interest rates. These platforms provide FDIC insurance protection, no minimum balance requirements, and easy fund transfers. Many integrate with automated savings tools and goal-based savings features.

Revenue is generated through net interest margin - the difference between interest earned on loans and investments versus interest paid to depositors. Platforms lend out deposits to generate higher yields while offering competitive savings rates. Some also earn from account maintenance fees and premium service subscriptions.

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