Newtek Launches Integrated Banking and Merchant Solutions Onboarding Process

NewtekOne, Inc. and its national bank subsidiary, Newtek Bank, have launched a streamlined onboarding process for independent business owners. The process integrates a true zero-fee business banking checking account and a merchant payment solution through a single online application. This unified experience allows business owners to accept payments and manage cash flow in one step.

NewtekOne, Inc. (NASDAQ: NEWT) and its national bank subsidiary, Newtek Bank, have introduced a streamlined onboarding process for independent business owners. This innovative solution integrates a true zero-fee business banking checking account with a merchant payment solution through a single online application. The unified experience allows business owners to accept payments and manage cash flow in one step, addressing a common friction point in the industry.

The new process, launched on July 02, 2025, combines the approval of both banking and merchant services simultaneously, eliminating the need for separate applications and waiting periods. This is achieved through the Newtek Advantage Dashboard, a proprietary platform that provides real-time visibility and management of all transactions, batches, and returns [1].

The core value proposition of this integrated solution lies in three key elements:
1. Real-time approval for both banking and merchant services simultaneously.
2. Automatic settlement of merchant payments directly into the Newtek Bank account.
3. Consolidated management via the Newtek Advantage Dashboard.

By bundling these complementary services, NewtekOne aims to reduce customer acquisition friction, increase product penetration, and enhance account stickiness. The strategy positions the company as a competitive differentiator in the small business banking space, offering a superior experience compared to legacy banks and third-party providers [1].

For NewtekOne, this product innovation could drive growth through improved conversion rates in the customer acquisition funnel, increased product adoption per customer, and enhanced revenue from merchant processing fees. The consolidated dashboard also presents opportunities for cross-selling additional services, such as payroll, insurance, and IT solutions [1].

Barry Sloane, Chairman, President, and Chief Executive Officer of NewtekOne, commented, “Independent business owners need a single-stream, real-time solution—not disconnected products and outdated workflows. We give our business owner clientele one location for transactions, analytics, and data to manage their businesses. We are proud of what we have built and are now delivering and executing on frictionless banking and business solutions” [1].

The new onboarding process is built to operate in real time, providing transparency and control that legacy banks and third-party providers cannot match. With the opening of the Instant Merchant Account, business owners can begin accepting debit and credit card payments immediately, without waiting periods or second applications, ensuring instant access to revenue [1].

References:
[1] https://www.stocktitan.net/news/NEWT/newtek-one-and-newtek-bank-unveil-real-time-all-in-one-business-5jkl3en53c2m.html