Radius Bank, a virtual bank focused on providing clients with banking solutions to better financial health, announced on Wednesday it has formed a new partnership with NorthOne, a mobile-first, API-enabled banking platform to create small business checking accounts. Radius Bank reported the partnership is the latest in a line of strategic relationships that it has built to bring new banking options to the market.
“NorthOne bridges the gap between banking and financial management for small businesses, startups, and freelancers – audiences that have historically been underserved by legacy banks. To solve this problem, NorthOne tapped Radius to power its FDIC-insured business checking account and debit card, while utilizing the API technology built by the Bank and its development partner Treasury Prime for digital account opening and account management.”
Speaking about the partnership, Mike Butler, CEO of Radius Bank, stated:
“Small businesses are a large, important part of our economy, but the reality is that they often lack time and resources. Using our technology, we have the ability to power NorthOne, which pairs the convenient features and functionality of a checking account with cutting edge financial tools, decreasing the need for time spent on administrative work and enabling them to manage their business seamlessly. We are excited to partner with a talented NorthOne team to strategically serve this market and are confident we will be very successful together.”
Eytan Bensoussan, CEO of NorthOne, went on to add:
“I’ve interviewed hundreds of business owners and I’ve found that many folks aren’t interested in speaking with relationship managers or going into the branch. Many of these entrepreneurs are looking for self-serve options with features that help them with their finances, rather than get in the way. With API-powered banking, NorthOne empowers business owners to take control of their financial health.”