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Novo Banks on Faster Deposits & Apps to Gain Small Business Market Share

Fintech Labs Insights

Unlike large commercial banks, where it takes a bit of poking around to find small business products, Novo is all business. They have just four main nav items: Business checking. Most prospective customers will hit the “Business checking” button and immediately see a list of core features: Features. Novo Boost.

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SoFi Officially Files For A Bank Charter Of Its Own

PYMNTS

Which means it really doesn’t come as all that huge a surprise that as of June 6th, SoFi had applied for a new (de novo) bank charter according to the FDIC. Officially SoFi is looking for an industrial loan charter under the name SoFi Bank in Utah. SoFi has confirmed the news.