Newtek Chooses Apiture’s Digital Banking Platform to Power

BOCA RATON, Fla., Sept. 29, 2022 (GLOBE NEWSWIRE) — Newtek Business Services Corp., (NASDAQ: NEWT), an internally managed business development company (“BDC”), announced that it has selected the platform Apiture digital banking to support Newtek Bank’s digital capabilities, pending regulatory approvals and the closing of the acquisition of National Bank of New York City (“NBNYC”). Newtek plans to leverage Apiture’s merchant banking and account opening solutions in combination with Newtek’s existing suite of business and financial solutions and the Newtek Advantage to provide a full suite of financial and business solutions and services to independent business owners.

Newtek previously announced an agreement to acquire NBNYC, a nationally chartered bank, and to reposition Newtek as a bank holding company with financial holding company status, pending regulatory approvals. As part of this transition, Newtek has sought a premier digital banking partner, Apiture, to power online and mobile banking for its new digital brand as it builds an industry-leading technology bank for independent businesses. Newtek has been working with Apiture for several months to prepare for the opening of Newtek Bank, subject to regulatory approval and closing of the acquisition.

Barry Sloane, Chief Executive Officer, said: “We are confident that Newtek Bank will become a true bank of the future, providing all of our business customers with the banking and business services they need in a branchless environment. By partnering with Apiture, we will be able to provide the comprehensive digital banking capabilities our customers will need, along with the exceptional customer experience they expect online today.

Mr. Sloane continued, “In addition to the partnership with Apiture, the Newtek™ Advantage will underscore the company’s mantra that Newtek is the ‘one-stop solution for all your business needs™’. The Newtek™ Advantage should be understood as part of the Newtek ecosystem which deploys more than 20 years of experience in developing an all-encompassing “process, people and technology system” that improves the lives of our client companies. Newtek’s repositioning as a bank holding company, owner of a nationally chartered regulated bank, will give us the central point to which our commercial customers come daily, weekly and monthly to manage their affairs. Newtek’s desire is to transform itself into the first trusted partner for its corporate customers, as opposed to the historical nature of the bank/customer relationship where the bank willingly takes deposits, but may or may not offer loans and other services to its customers. . We will seek to continually develop and grow our banking platform with Apiture and industry vendors. We chose Apiture as the premier digital platform provider and integrator in Newtek Bank because of their commitment to providing on-time digital account opening and renaming our technology (the Newtek™ advantage) through the existing core operating system of NBNYC without having to go through a kernel conversion with when we open. We believe that using great technology providers like Apiture to integrate all of our offerings will help us become the bank of choice. Apiture has a history of successfully delivering its technology and solutions to hundreds of US-based financial institutions.

“Apiture is thrilled to support Newtek as it reinvents the way it will deliver services to its business customers,” said Chris Cox, Chief Operating Officer of Apiture. “Given our extensive experience in helping financial institutions build digital-only brands, we are uniquely positioned to support this innovative company and look forward to our new partnership.”

Apiture has gained increasing recognition in recent months, including Best Digital Banking Solution Provider for Businesses by FinTech Futuresa die Best Workplaces for Fintech 2022 by American banker, and “General Leader” in the 2021 Digital Banking Platform Vendor Dashboard by Javelin Strategy & Research.

About Newtek Business Services Corp.
Newtek Business Services Corp., your business solutions company®, is an internally managed BDC which, together with its controlled holding companies, provides a wide range of business and financial solutions under the Newtek name.® brand to the small and medium-sized enterprise (“SME”) market. Since 1999, Newtek has provided industry-leading, cost-effective products and services and effective business strategies to SMB relationships in all 50 states to help them increase sales, control expenses and reduce risk.

Products and services of Newtek and its portfolio companies include: business loans, SBA loan solutions, electronic payment processing, technology solutions (cloud computing, data backup, storage and recovery, IT consulting) , eCommerce, Accounts Receivable and Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions.

Newtek® and your business solutions company® are registered trademarks of Newtek Business Services Corp.

About Apiture
Apiture provides award-winning digital banking solutions to banks and credit unions across the United States. Our flexible and highly configurable solutions meet a wide range of financial institution needs, from leveling the playing field with big banks to building unique, digital-only brands. With our API-first strategy, our customers can maximize their platform’s capabilities while maintaining a seamless user experience. Our exclusive focus on digital banking means we are committed to delivering innovative solutions that meet the unique needs of our customers while offering an industry-leading level of support. Apiture is headquartered in Wilmington, North Carolina, with offices in Austin, Texas. To learn more, visit apiture.com.

Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements. Words such as “believes”, “intends”, “expects”, “plans”, “anticipates”, “plans”, “goal” and “future” or similar expressions are intended to identify forward-looking statements. All forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from the plans, intentions and expectations reflected or implied by the forward-looking statements. These risks and uncertainties include, among other things, our ability to close the pending acquisition of National Bank of New York City (the “Transaction”), obtain the regulatory approvals required for the pending Transaction, the timing of closing of the Transaction, the timing of the Company’s deregulation as a BDC under the 1940 Act, projections regarding or contemplating the pending transaction, the timing of our ability to generate new investment, achieve certain margins and levels of profitability, availability of additional capital and ability to maintain certain debt ratios, increased competition, operational issues and their impact on revenues and profit margins, business strategies and expected future financial performance, expected future number of customers, business prospects, legislative developments and other q similar questions. Risk factors, cautionary statements and other conditions, which could cause Newtek’s actual results to differ from management’s current expectations, are contained in Newtek’s filings with the Securities and Exchange Commission and available at http ://www.sec.gov/. Newtek cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied by such statements.

SOURCE: Newtek Business Services Corp.

Investor Relations and Public Relations
Contact: Jayne Cavuoto
Phone: (212) 273-8179 / [email protected]

Media contact for Apiture:
Heather Valley
[email protected]