Newtek to Work with Apiture to Provide B2B Digital Banking
Apiture, a developer of digital banking solutions, has been chosen by business development company Newtek Business Services to supply the digital capabilities for its upcoming Newtek Bank.
For independent business owners, the Apiture Digital Banking Platform will offer business banking and account opening options to enable a variety of financial and business services.
The upcoming acquisition of National Bank of New York City (NBNYC), a nationally licensed bank, will provide the foundation for the creation of Newtek Bank, repositioning Newtek as a bank holding company.
For several months, Apiture and Newtek have been collaborating on the developing digital bank, with the supplier of the digital platform connecting with NBNYC's current core operating system to eliminate the need for a core conversion when the bank opens.
"Partnering with Apiture will allow the firm to offer its business customersthe banking and business services they need in a branchless environment. The repositioning of Newtek as a bank holding company, owning a nationally chartered regulated bank, will give us the central point that our business clients come to daily, weekly and monthly to manage their business," said Newtek president, chair and CEO Barry Sloane.
Fazzaco earlier had the story of Apiture closing a $29 million fundraising round led by Live Oak Bank.
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