Empowering Business Clients:
NewtekOne provides a broad range of financial and business solutions to independent business owners, including lending, payments, payroll, insurance, and technology services. After acquiring a single-branch community bank in 2023, the company partnered with Apiture, now part of CSI, to build a national digital banking platform that helped grow deposits from $140 million to more than $1.5 billion in two years.
The acquisition of National Bank of New York City (NBNYC) gave NewtekOne a banking charter and the opportunity to expand its offerings through a fully integrated digital banking experience. Prior to the acquisition, NBNYC operated as a traditional single-branch community bank with legacy infrastructure and limited digital capabilities.
Beginning with a Bank and a Digital Platform
To modernize the institution and support nationwide growth, Newtek implemented the Apiture Digital Banking Platform — including Digital Account Opening, Consumer Banking, and Business Banking — to deliver digital banking capabilities through online and mobile channels across all 50 states.
Newtek also launched the Newtek Advantage, a centralized digital experience that gives business clients access to banking, payroll, HR, and other business tools through a single dashboard. Using embedded banking integrations powered by API Banking capabilities, clients can manage day-to-day business workflows alongside core banking activities such as viewing balances and opening accounts.
Newtek Bank’s Embedded Banking Strategy
NewtekOne’s strategy centered on delivering banking and business services through a connected digital experience. Rather than relying on a traditional branch expansion model, the company focused on building a scalable platform capable of supporting nationwide growth.
Using API Banking capabilities, Newtek embedded banking services directly into the Newtek Advantage platform, allowing clients to access financial and operational tools through a single experience. This approach increased engagement across the Newtek ecosystem while simplifying how business clients interact with both banking and operational services.
Digital Account Opening also enabled Newtek Bank to expand nationally without relying on brokers, branch expansion, or traditional business development infrastructure.
“We are thrilled that Newtek Bank’s deposit gathering practice is flourishing in an industry that is highly competitive and fraught with volatility, and that we have been able to deliver these results that exceeded our expectations within our unique business model without the use of brokers and branches.”
Barry Sloane
President, Chairman and CEO, NewtekOne, Inc.
Results at a Glance
The digital-first strategy produced rapid growth following the launch of Newtek Bank.
In 2023, the bank added approximately 5,000 depository accounts while increasing deposits from $140 million to $460 million. By 2024, deposits exceeded $1 billion across more than 15,000 accounts. By 2025, total deposits surpassed $1.5 billion, representing more than 30,000 accounts nationwide.
According to Barry Sloane, President, Chairman, and CEO of NewtekOne, the company’s deposit growth exceeded expectations:
“We are thrilled that Newtek Bank’s deposit gathering practice is flourishing … and that we have been able to deliver these results that exceeded our expectations within our unique business model without the use of brokers and branches.”
Building a Unified Business Banking Experience
Newtek’s collaboration with Apiture enabled the company to unify banking and business services within a scalable digital platform designed specifically for business clients.
According to Sloane, Newtek aims to become “the organization that does not simply take deposits, but does so much more for its clients to enable them to succeed in business.”
Building on that momentum, NewtekOne plans to further expand the embedded banking experience by integrating a comprehensive suite of treasury management solutions directly into the Newtek Advantage platform. These capabilities will extend embedded banking into cash management, payments, and settlement workflows within a connected client experience.
Integrations with accounting platforms will further connect banking and business systems, enabling client data to move more seamlessly across workflows.
By combining Digital Account Opening, Consumer Banking, Business Banking, and embedded banking capabilities, Newtek created a scalable digital banking model capable of supporting rapid nationwide growth.
What began as a single-branch bank acquisition evolved into a scalable national digital banking platform designed to support long-term business growth.
Explore how Apiture helps financial institutions deliver scalable digital banking experiences.