Apiture & Newtek Bank win ‘Best Bank-FinTech Partnership’ at the IBSi GFIA 2024

By Gloria Mathias

Apiture, a provider of digital banking solutions, and Newtek Bank, N.A., the technology-enabled banking subsidiary of NewtekOne, Inc., have announced they have been recognised for Best Bank-FinTech Partnership in the IBSi Global FinTech Innovation Awards 2024.

Now in its sixth year, the GFIA event celebrates banking technologists who drive exceptional advancements in the FinTech sector. It recognises the efforts that redefine industry standards and enhance global financial services.

NewtekOne launched a new 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.

NewtekOne 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 maximises 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.

“We are thrilled to be recognised alongside Apiture by IBSi,” said Barry Sloane, President, Chairman, and CEO of NewtekOne. “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 endeavours to be the one company for the business and financial needs of our clients 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-decade-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 organisation 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 as it delivers a novel, seamless digital experience to its customers,” said Chris Babcock, CEO of Apiture. “This award underscores the flexibility of the Apiture Digital Banking Platform in supporting the unique needs of financial institutions of all sizes.”