Seamless Banking, Smarter Scaling: What’s New in Q2

At Grasshopper, we are committed to delivering innovative, client-centric solutions that make banking faster, easier, and more powerful for the businesses and fintechs we serve. Below are the latest product and technology updates from this quarter, designed to further enhance the digital banking experience.

Product & Technology Updates

• Multi-Entity Banking: Managing multiple businesses just got easier. Our Business Banking platform now supports multi-entity management, allowing users to oversee accounts with different Employer Identification Numbers (EINs) under a single login. No more switching back and forth between profiles—just one seamless interface to view and manage all your business relationships.
• FedNow Receive: Building on our launch of the FedNow® Service in partnership with Narmi last year, we’re excited to share that real-time payment receive capabilities are now available to all fintech clients, including those with For Benefit Of (FBO) account structures. This expansion marks a key milestone in our instant payments strategy and paves the way for upcoming FedNow send functionality, which will bring full two-way real-time money movement to our entire client base.
• Visa Direct: We’ve introduced Visa Direct, a real-time push payments platform that provides a faster, more secure, and more accessible way to send and receive money. Unlike traditional card payments, Visa Direct enables funds to be “pushed” directly to eligible cards or bank accounts, offering near-instant money movement. Whether for peer-to-peer transfers, emergency disbursements, insurance payouts, or wage advances, Visa Direct delivers unmatched speed and convenience without requiring new apps or accounts. Transactions are protected through Visa’s global network, with built-in security measures like tokenization and fraud monitoring.
• Affinity Banking Expansion: Through the acquisition of Auto Club Trust, FSB, we’ve expanded our consumer and business banking affinity program, unlocking the opportunity to serve more than 13 million AAA members and insureds across The Auto Club Group’s 14-state territory. This strategic partnership enables us to deliver our award-winning digital banking platform to a broader community, making trusted financial services more accessible to millions of hardworking families and individuals across the United States.
• Banking Tech Awards USA: Lastly, we were honored to have been named a winner of Informa’s Banking Tech Awards for the third year in a row, winning the Best Use of Tech in Business Banking category, recognizing our leading digital offerings for startup and small-and medium-sized business (SMB) clients. This marks our second consecutive win in this category, following our 2023 recognition for Best Use of Tech in Banking.

To us, innovation is more than a buzzword—it’s a promise. These updates are part of our ongoing effort to continue to deliver a best-in-class digital banking experience that helps our clients operate more efficiently, move faster, and scale smarter. Get ready for even more cutting-edge technology and disruptive innovations rolling out very soon!

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