Novo Announces Payroll with Check to Serve Hundreds of Thousands of Small Businesses

Over 200,000 small businesses rely on Novo for their all-in-one business banking. The financial solutions platform has partnered with Check to launch Novo Payroll, a powerful addition to their suite of offerings. With this partnership, Novo customers have access to a payroll solution that is fully integrated into their platform of small business banking, budgeting, and working capital solutions, enabling customers to manage their finances from a single platform.

“Traditional small business payroll solutions consist of standalone applications characterized by high fees, burdensome cash-on-hand requirements, and either clunky or non-existent integrations between payroll and business bank accounts,” said Michael Rangel, founder and CEO of Novo. “In collaboration with Check, we built a payroll solution that simplifies and speeds up the process of paying small business employees."

Novo recognized an opportunity in the market: seamlessly connecting banking and payroll, tailored to small businesses. Built on Check’s API, Novo Payroll streamlines the entire payroll process, from calculating wages to facilitating direct deposits and managing tax withholdings in all 50 states. 

Their best-in-class payroll solution provides businesses with a comprehensive payroll product that not only reduces administrative burdens but also ensures accuracy and compliance with regulatory standards. Businesses will have access to all they need to successfully run payroll including next day payments, built-in accounting and budgeting tools, and support from payroll experts. Novo also provides seamless working capital solutions directly from within their payroll product, mitigating potential cash flow crunches, and allowing small businesses to ensure their team always gets paid on time.

In the coming weeks, Check-powered Payroll will become available to Novo’s hundreds of thousands of customers, supporting small businesses across the country who serve as the financial backbone for local communities across the country. To learn more about Novo Payroll, visit novo.co.

Disclosure
‍Novo is a fintech, and not a bank. Novo acts as a service provider to Middlesex Federal Savings, F.A., and the deposit and banking products obtained through the Novo platform are provided by Middlesex Federal Savings, F.A.

Merchant Cash Advance products and services are offered by Novo Funding LLC (“Novo Funding”), a wholly owned subsidiary of Novo. Merchant Cash Advances require a Novo checking account.