Newtek Bank, N.A. and Apiture Honored for Most Effective Bank-Fintech Partnership in the IBSi Global FinTech Innovation Awards
Newtek Bank, N.A. Tripled Deposits in 2023 Using the Apiture Digital Banking Platform
BOCA RATON, Fla., Dec. 10, 2024 (GLOBE NEWSWIRE) -- (“the Company”) (NASDAQ: NEWT) announced today that , its technology-enabled banking subsidiary, and , a leading provider of digital banking solutions, have been recognized for Most Effective Bank-FinTech Partnership in the IBSi Global FinTech Innovation Awards 2024.
Now in its sixth year, the awards program celebrates banking technologists who drive exceptional advancements in the fintech sector, recognizing efforts that redefine industry standards and enhance global financial services.
NewtekOne launched its digital-only federally chartered bank, Newtek Bank, in 2023, following its acquisition of a New York-based community bank. Powered by Apiture’s Consumer Banking, Business Banking, and Digital Account Opening solutions, Newtek Bank achieved remarkable deposit growth in 2023, adding approximately 5,000 depository accounts and growing deposits from $140 million to $460 million. During 2024, Newtek Bank’s total deposits have grown to $928 million through November 30, 2024, which represents a 563% increase from $140 million in deposits at the inception of Newtek Bank. Since January 6, 2023, Newtek Bank opened, services, and manages over 14,000 distinct bank accounts.
NewtekOne, Inc. also partnered with Apiture to integrate digital banking capabilities into The Newtek Advantage™, which enables Newtek’s business customers to access NewtekOne’s payroll, payment processing, insurance, business lending, and other business and financial solutions in a single online business portal. The Newtek Advantage™ business portal also serves as a dashboard for analytics, document storage, and transactional capability for NewtekOne’s clients. By embedding banking capabilities directly within the dashboard, NewtekOne maximizes exposure to the NewtekOne brand by providing best-in-class solutions, enabling NewtekOne’s business clientele to become increasingly successful with higher levels of convenience and efficiency.
Barry Sloane, President, Chairman and CEO said, “We are thrilled to be recognized alongside Apiture by IBSi. Through our partnership with Apiture, we were able to triple our deposits in a competitive environment, without the use of brokers, branches, and business development officers. NewtekOne endeavors to be the One Solution For All Your Business Needs® by offering best-in-class solutions in payroll, payment processing and money movement, document storage, web traffic analytics, and business loans, and believes the partnership with Apiture for digital account opening and online banking has lit up and positioned our two-decades-long vision. The Apiture team has become a valued business partner, and we will continue to innovate digital banking with all of our invaluable business and financial solutions, so we are known as the organization that does not simply take deposits but does so much more for its clients to enable them to succeed in business. We look forward to continuing to work with this innovative digital banking provider as we continue to transform the banking experience for our customers.”
“Apiture is proud to partner with Newtek Bank as it delivers a novel, seamless digital experience to its customers,” said Chris Babcock, CEO, Apiture. “This award underscores the flexibility of the Apiture Digital Banking Platform in supporting the unique needs of financial institutions of all sizes.”
View the full list of the winners .
About NewtekOne, Inc.
, Your Business Solutions Company®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries (collectively, “NewtekOne”), provides a wide range of business and financial solutions under the Newtek® brand to independent business owners. Since 1999, NewtekOne has provided state-of-the-art, cost-efficient products and services and efficient business strategies to independent business owners across all 50 states to help them grow their sales, control their expenses, and reduce their risk.
NewtekOne’s and its subsidiaries’ business and financial solutions include: banking (Newtek Bank, N.A.), , , , , , , , and .
, , , National Association, Your Business Solutions Company®, One Solution for All Your Business Needs® and Newtek Advantage are registered trademarks of NewtekOne, Inc.
About Apiture
Apiture delivers award-winning digital banking solutions to banks and credit unions throughout the U.S. Our flexible, highly configurable solutions meet a wide range of financial institutions’ needs, from leveling the playing field with larger institutions to supporting growth through innovative data intelligence and embedded banking strategies. With our API-first approach, our clients can maximize the capabilities of their platform while preserving a seamless user experience. Our exclusive focus on digital banking, and a team with hundreds of years of collective experience working at U.S. financial institutions, means we’re dedicated to meeting the unique needs of our clients while providing a level of support that’s unmatched in the industry. Apiture is headquartered in Wilmington, North Carolina, with offices in Austin, Texas. To learn more, visit .
Note Regarding Forward-Looking Statements
Certain statements in this press release are “forward-looking statements” within the meaning of the rules and regulations of the Private Securities Litigation and Reform Act of 1995 are based on the current beliefs and expectations of NewtekOne's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. See “Note Regarding Forward-Looking Statements” and the sections entitled “Risk Factors” in our filings with the Securities and Exchange Commission which are available on NewtekOne's website (/sec-filings) and on the Securities and Exchange Commission’s website (). Any forward-looking statements made by or on behalf of NewtekOne speak only as to the date they are made, and NewtekOne does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.
SOURCE: NewtekOne, Inc.
Investor Relations & Public Relations
Contact: Jayne Cavuoto
Telephone: (212) 273-8179 /
