Challenger NorthOne launches with digital finance toolkit for small business

As a slew of foreign challenger banks take aim at the U.S. market, Toronto-based NorthOne has launched a banking offering targeting the small business segment. According to Eytan Bensoussan, co-founder and CEO of NorthOne, the company is pitching itself to customers as a way to eliminate the need for back-office accounting. “We spent time with a small army of accountants asking them, ‘What are some of the biggest things that create risk for your clients?’” he said. “They said there are very often situations where they forget to put away money for taxes. All of a sudden tax day comes, they don’t have the capital and they start incurring fines; it’s the beginning of the end.”

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