The fintech
movement in Miami is exploding and
one company dedicated to make sure small businesses understand
how to survive in a competitive environment is
Novo. My name is Tyler Mack Tire. I'm with Novo. I'm
a one of the co-founders and CTO.
I'm Michael Rangel. I'm the
co-founder and CEO of novoico and Tyler met in
the early 2000s here in Miami a small
business owners. They're experience help them create a solution for an
ongoing problem small businesses face Nobles a
new way for small businesses to essentially
access banking services and really understand how and
where they're spending their money connect to all the tools that they need
to run their small business. We said what if we can take that
one size fits all approach and actually flip it
on its head
what if we can make
More like a like a custom fit suit experience right
where you're signing up for your bank account
and we're learning about you your business how you
do your business how you process payments into your account
where the money is going out of the account and we create
all of these Integrations in our ecosystem strategy.
We're just bolted on the founders say they
have stayed with the same mindset since the start. So make sure
small business owners understand where their money is going and how
it's being spent today's day and age
when you're using all different tools like Gusto wise
QuickBooks Etc. We thought well, why
isn't there a small business bank that allows
you to connect all these different tools and really understand how and
where you're spending your money and on top of that speed up
those payments for you. And so that way you can get money from
one place to another without having the tax of the US
Financial System since 2020 the growth of small business
owners has increased and Noble says they've had to keep
up with the demand that means adjusting how they do business.
You had eight million small businesses started in last two
years, right? And today we believe
that that also is going to happen but these stats they underline one
really really key important thing that we believe in that
Novo is that when times gets tough when you
can't go out and find a job when you get laid off Etc in
this economy the American people they fall back
on what they know best, and that's entrepreneur.
Just being an entrepreneur trying to figure it out being the
underdog and saying I can create a job instead of
take one. And as you continue doing more research and we
continue connecting we continue talking we're like man.
The leading cause for business failure in the US is poor cash management like
hmm.
Like okay I get that that's logical that makes
sense. But it seems like there should probably be something to help small businesses defend
against that with the increase. The technology has
also changed. It also means that we're going to
be able to build so many great and amazing products that
helps service a portion of the market a massive
long tail that big Banks just
don't care about and so we're gonna make Taylor Made products for
those micro businesses when they essentially
were forced into personal applications. Like I was
from mint.com understand my business expenses or
be forced into this real clunky, you know,
40 year old application that looked like I was like typing into
a Doss like terminal
and so we're really really excited about all this new
stuff that we're going to be able to do so we can allow for these small
business owners to spend more time in the front office than working
on their back office as for the future Tyler and
Michael say they plan a stay in Miami and our optimistic
about what's to come Miami is really stepped up
as I said before Michael and I met in Miami
back in 2000, you know the 2000s
I would say, I don't remember the exact year, but
Since then Miami is completely changed. My the
ecosystem name is grown tremendously. There's so
many more Tech Founders here. There's
so much more Talent here. There's so much more engineering to
sign everything. Let's talk about the future of Nova. What
is in the future for Noble for the company and the products
what excites me most about next year is that
I believe a lot of the foundation that we've laid.
Is going to start becoming more apparent to
the broader Market.
Where we're going to start embarking into a category
of our own where people stop putting Nova just
in the in the Challenger Bank bucket.
Right just the application and the
debit card, right? All of our strategies are
going to start acting in concert with each other and start
building upon and reinforcing each other in a
more visible way next year
and Beyond and I think that that's really going to
become like an interesting development a song
goes on.
in South Florida Johnny Fernandez the bank
news