Novae, a black-owned finance company, launches new option for online banking

CONYERS, Georgia., 23 November 2021 / PRNewswire / – If you’ve recently tried paying for goods or services in America, you may have learned how essential a bank account can be. A growing number of companies and institutions alone accept electronic funds transfer payments from a bank and may even refuse to do business with someone who can only pay in cash.

This is bad news for the nearly 14 million American adults who, by choice or necessity, do not have a bank account. Unbanked people find it increasingly difficult to offer acceptable payment methods for even the most basic necessities of life, and may be excluded from many types of businesses, housing, investments and even business. ‘education.

Some people choose to keep their money out of banks because they don’t trust the big banks, knowing their recent history of security breaches and government surveillance. Others feel unable to open a bank account because they struggle with the paperwork, technology, and identification documents required to open and access an account.

Novae LLC now offers a new solution for the unbanked.

A Georgia Based as a company, Novae has for years offered highly accessible financial tools to help disadvantaged people create loans, buy homes and start businesses. Today, this rapidly growing company has added online banking services to its list of offerings designed to make life easier for people who have historically been denied access to education and financial institutions.

Novae LLC is one of the first black-owned FinTech companies to offer online banking services. The program provides virtual and physical debit cards and has no setup fees, no minimum balance required, no monthly fees, and no overdraft fees. Creating an account takes less than five minutes online and costs nothing.

In short, Novae Online Banking is designed to be as convenient and economical as possible.

As with traditional online banking services, Novae’s program allows account holders to have their paychecks deposited directly into their online bank account and transfer money from PayPal or other banks. But unlike many traditional banks, customers can also load money onto their Novae debit cards by visiting any WalGreens, CVS, or Dollar Tree store nationwide.

CEO McCambry Reco hopes that this design will make Novae Online Banking much more accessible than the traditional banking model. The limited number of physical bank locations has been a huge barrier to accessing banking services for people living in low income areas.

Novae has also hosted up to 10% cash back rewards on purchases made with Novae debit cards, allowing users to quickly earn points to spend at any of over 100 outlets.

Novae’s online bank accounts are FDIC insured up to $ 250,000, and come with the Advanced Card Security option. Plans for 2022 include the deployment of budgeting tools to enable clients to set and achieve financial goals with the support of Novae’s tracking function. A range of unsecured credit cards is also slated for deployment in the first quarter of 2022.

Novae, LLC was named by Inc 5000 as one of America’s fastest growing companies in 2021. The company has experienced massive growth since its founding in 2014, thanks to its innovative models for leveraging technology to make financial services highly accessible to those who have traditionally been excluded from financial education.

Entrepreneurs who join Novae’s white label partner program will also be able to license Novae’s online banking technology to provide financial services under their own brand. McCambry’s plan is to allow other FinTech entrepreneurs to use the system, allowing Novae’s infrastructure to do all of the work, while also advertising the service as part of their own branded services.

Through this program, McCambry hopes to encourage a variety of small businesses to thrive and innovate in FinTech. Novae’s consumer finance, business finance, credit building and real estate investment education program is also available to potential white label partners who want to develop their own brand and business.

“I hope this will make it easier than ever to access online banking services,” said the CEO McCambry Reco. “This will make it easier for users to do business and make purchases and investments that may be prohibited for people without a bank account. Together, we can work towards a more prosperous future for everyone. “

For more information on Novae, visit

Media contact:
Arielle Dothard
[email protected]


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