#United States #New York #Small Business #Banking #Relay Financial

Small Businesses Flourish with Over $1 Billion in Managed Deposits at Relay Financial

In a remarkable achievement, Relay Financial Technologies, Inc., commonly known as Relay, has announced that it now manages over $1 billion in deposits for small businesses through its banking platform. This milestone speaks volumes about the trust small business owners have placed in Relay as they navigate the competitive landscape of entrepreneurship. With an impressive user base of over 110,000 self-made small business owners, this significant figure not only reflects the company’s growth but also underscores its mission to facilitate financial success for entrepreneurs across the United States.

Relay has positioned itself as a financial ally to small businesses, offering robust banking and money management tools designed to optimize cash flow. According to Yoseph West, Co-Founder and CEO, “Every dollar deposited signals the trust of the small and medium-sized businesses who bank with us.” He recognized that these owners are industrious individuals working diligently to improve their businesses and personal lives. For professions ranging from electricians to florists, reliable banking services are vital to their daily operations. It’s this understanding that drives Relay’s commitment to support these enterprises.

A Financial Command Center for Small Businesses

As Relay continues to evolve, it aims to transform into a complete financial management hub for small businesses, helping them achieve clarity in cash flow and informed financial decision-making. Recently, Relay has expanded its services beyond traditional banking accounts to include an integrated suite of financial products. Among these innovations are tools that empower users to track their finances comprehensively and make strategic decisions that prioritize profitability.

Over the past year, Relay has rolled out a diverse array of products tailored to the unique needs of small business owners. Key features include:

• - Payments and Invoices: Relay equips businesses with accounts receivable tools designed to expedite payment processing. With capabilities to generate invoices, automate follow-ups, and secure payment transactions, entrepreneurs can now enjoy a complete, real-time overview of their incoming cash.

• - Expenses and Bills: By leveraging AI-powered workflows, Relay helps small businesses manage their spending with precision. Owners can create and pay bills while establishing approval processes, allowing them to take control of their outgoing cash flows and eliminate unnecessary expenses.

• - Relay Visa® Credit Card: This essential tool acts as a cash flow safety net for many small businesses, offering features such as the ability to issue cards to employees, customizable designs, and attractive cashback incentives, ensuring financial flexibility.

The announcement of surpassing $1 billion in managed deposits is not just a numbers game; it represents the dedication, sheer effort, and resilience of the entrepreneurs Relay serves. Behind each dollar are stories of late nights, tough decisions, and relentless drive from business owners who transform their aspirations into impactful realities. Relay takes pride in being the preferred platform for these ambitious visionaries, offering them not just services but partnership and support.

Conclusion

Relay stands as an impressive example of how a company can effectively cater to the specific needs of small businesses, especially in this age where reliable financial management is key to sustained growth. By enabling entrepreneurs to maintain oversight of their finances, Relay is assisting them in navigating their paths toward greater profitability. As it continues to innovate and expand its offerings, Relay is set to remain a critical resource for the small business sector, fostering an environment where local entrepreneurs can thrive and prosper.

About Relay: Relay is an online banking platform designed for business owners looking to gain complete control over their cash flow. By providing insightful analytics on earnings, expenditures, and savings, Relay empowers entrepreneurs to make informed financial decisions and achieve peak profitability.

Disclaimer: Relay is a financial technology company and not a bank. Banking services are offered by Thread Bank, Member FDIC. The Relay Visa® Credit Card is available through invitation only.