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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) -- NewtekOne, Inc.
About this update from Newtekone, Inc.
[{"type":"text","content":"Newtek Bank, N.A. Tripled Deposits in 2023 Using the Apiture Digital Banking Platform\nBOCA RATON, Fla., Dec. 10, 2024 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (“the Company”) (NASDAQ: NEWT) announced today that Newtek Bank, N.A., its technology-enabled banking subsidiary, and Apiture, 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 bus...