Simpler, Faster Solutions: Our Latest Updates for Q1

At Grasshopper, we are continuously enhancing our digital banking solutions to provide our clients with the most seamless and efficient banking experience. Here are some of our latest product and technology updates from this quarter designed to support small businesses, startups, and the innovation economy.

Luther Liang SVP, Head of Product

March 26, 2025

Product & Technology Updates

Innovator Term Loan: We launched the Innovator Term Loan, exclusively available to existing small business clients. This new financing option is designed to help small businesses scale with flexible terms, competitive rates, and a streamlined digital application process—ensuring faster access to the capital they need to grow.
Bank Verification Letter & Wire Instructions: To make banking even more convenient, we’ve introduced a new feature in our Business Banking platform that allows small businesses and startups to instantly generate and download Bank Verification Letters and Wire Instructions directly from online banking. No more waiting or manual requests—just quick, secure access to essential banking documents when you need them.
Real-Time Payments: We have officially gone live with RTP® from The Clearing House, a real-time payments platform built for the For Benefit Of (FBO) account model, enabling Banking-as-a-Service (BaaS) programs powered by Increase to send and receive real-time payments in seconds. By leveraging RTP within the FBO framework, our partners can facilitate instant transactions, improving cash flow, reducing settlement times, and enhancing the overall payment experience for their end users.

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Innovation and efficiency are at the core of these latest enhancements, making banking faster, simpler, and more accessible. As we continue to expand our offerings and refine our digital platform, our focus remains on delivering seamless financial solutions that empower our clients to grow with confidence. Even more exciting updates are on the horizon—stay tuned!

Luther Liang

Luther Liang is the Head of Product at Grasshopper Bank. In this role, Luther leads the product function for the bank, managing the product roadmap and strategy for all business lines, including Small Business (SMB), Banking-as-a-Service (BaaS), and Fund & Sponsor Banking (F&SB). Prior to Grasshopper, Luther was a Product Manager at Radius Bank where he led product and technology partnerships for the Direct-to-Consumer (DTC), SMB, and BaaS business lines and developed multiple award-winning products. He graduated from Boston University with a Master’s Degree in Software Development and lives in Brooklyn, New York, with his family.