NorthOne is pleased to announce they’re breaking new ground in the Fintech space “by joining The Clearing House’s Real-Time Payments network in partnership with The Bancorp Bank, N.A.”
With The Clearing House’s innovative Real-Time Payment network, NorthOne will help businesses “receive payments instantly 24 hours a day, 365 days a year, and serves as a platform for innovation allowing NorthOne to deliver new products and services to customers.”
This update “provides NorthOne customers with a competitive advantage to receive payments instantly.”
Future updates will soon “provide customers the ability to send Real-Time Payments.”
With 61% of small businesses struggling due to poor cash flow management, the launch of Real-Time Payments “will directly remove a major barrier to success for the businesses NorthOne serves by making it faster for them to get paid.”
Here’s what NorthOne’s co-founder and CEO Eytan Bensoussan had to say about the launch:
“This is a huge milestone not just for our team but for the Fintech Industry as a whole. Most importantly, this update is going to make a huge difference for our customers. For small business owners, cash flow and liquidity are paramount. By removing payment waiting times, we’re able to free up a frustrating technical bottleneck for our customers, making it easier for them to operate their business efficiently.”
This exciting new announcement is just the beginning as NorthOne “gears up for a huge year in 2023 on the heels of our $67 million dollar raise.”
They’re building a financial platform that “acts as the sophisticated finance department small businesses could once only dream of.” The launch of Real-Time Payments is “an important part of that puzzle.”
Banking services are “provided by The Bancorp Bank, N.A., Member FDIC.”
As covered in October 2022, NorthOne announced it has raised $67 million in Series B funding.
With participation from new and existing investors, NorthOne claims it is poised “to further expand the reach of its business banking and financial management platform across all sectors of the small business community.”
NorthOne is a financial technology company, “not a bank.” Banking services are “provided by The Bancorp Bank, N.A., Member FDIC.”
Eytan Bensoussan and Justin Adler founded NorthOne in 2016 “to serve traditional businesses on main streets across America.”
From construction workers to barbers, mechanics to restaurant owners, these businesses make up the majority of the country’s 33 million small businesses that “have been deeply underserved by financial institutions for decades.” This new funding will “enable NorthOne to continue raising the standard of products and services these owners should expect from their banking partners.”
