How a Business Checking Account Can Empower Fintech-Driven Entrepreneurs
The future of money is unfolding in front of our eyes.
Gone are the days of startups working out of garages. Today’s innovators are going to market from coffee shops, coworking spaces, and digital dashboards. There’s nothing wrong with that, of course, but no business can survive without some solid ground to stand on. When it comes to building a minted empire, one of the smartest first steps is a business checking account made for modern entrepreneurs.
Digital-First Founders Need Digital-First Banking
Every brilliant fintech concept starts with smart financials. Whether you’re processing cross-border transactions, seed-funding an AI pilot, or sending well-earned paychecks to your staff, a business checking account is a wingman (or wing money) that helps you take flight. Bluevine, for example, offers an excellent business checking account experience for fast-growing digital startups.
Most legacy banks never envisioned the likes of today’s fintechs. Fintechs need speed, agility, and visibility, not stand-alone paper forms, portals, and three-week delays. As a result, they are considering non-traditional options like business checking account services designed for their pace.
Solving Real Problems with Smarter Tools
A traditional bank can take days to clear ACH deposits, days to process online wires, or even longer to release holds on your cash. In the meantime, you have a launch to tackle, money disappearing quicker than Bitcoin, and an invoice glut piling up. A digital-first checking account can help ease the pain.
You can easily automate your weekly charges with a single click, view real-time cash positions at a glance, and integrate other fintech tools that are already making their way into your workflow, like accounting software and payment gateway plugins. Your checking account is the heart of your stack. It’s where everything comes together, and you need one that works as efficiently as you do.
Designed to Scale with Your Startup
There’s something else. Growth—in every essence of the word. What starts out as a design, research, and product development can scale up to a 50-person team in a matter of months. This means your checking account has to be scalable to match this growth, so you don’t have to keep switching accounts or moving banks every quarter.
If a business model, product development timeline, and user base can double overnight, why can’t the backend power supplies that pay the bills do the same? The right business checking accounts have a “feature set” that evolves with you, which cannot be said of account types that put caps, limitations, and fees on growth.
Visibility and Security in Real Time
How about visibility? As a startup hurtling down the runway, your checking account is the cockpit of the plane. Everything you’re buying, spending, and saving gets pushed through the account. With most (if not all) of your fintech stack hosted in the cloud, your money should be, too!
So, the dashboard of your bank account should provide a crystal clear look into every payment and deposit or do something close to that. The best business checking accounts will enable access to view your account via active integrations and data insights right at your fingertips from the dashboard.
Security is the other major issue. Platform security in the age of cyber-insecurity is non-negotiable. Business checking accounts should have features like enhanced-fraud detection, two-factor authentication, and real-time security alerts. This is a vital feature for the ones working to build the future.
