Fintech company NorthOne has partnered with The Bancorp Bank, Member FDIC, to offer banking services to small businesses.
With the move, NorthOne joins other fintech companies which have partnered with The Bancorp Bank to offer financial services.
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NorthOne CEO and co-founder Eytan Bensoussan said: “We have the team, the research insights, the platform and customer experience, and now we have the absolute best infrastructure and bank partners in the world.
“We’re so determined to build the primary banking platform that small businesses deserve – it’s our privilege and opportunity to serve them – and now we’re set up for incredible scale.”
The partnership with enable NorthOne customers conduct ACH payments or direct deposits from POS providers Stripe or Square without additional charges.
The customers can withdraw cash from Cirrus ATMs worldwide and transfer cash to a NorthOne Account from Green Dot locations.
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By GlobalDataThey can also deposit funds from cheques through the NorthOne mobile app.
Additionally, the NorthOne customers can access invoicing, expense tracking and budgeting features.
The Bancorp Bank director business development Steve Turza said: “Small business owners today are under extreme pressure and stress to manage and grow their companies.
“Through our partnership, NorthOne has the ability to scale their platform and help small business owners save time, budget and plan their finances, and run their business with confidence.”
Separately, NorthOne partnered with Galileo Technologies to provide additional processing services to new and existing NorthOne customers.
