Moov

🎉 We’re thrilled to share that Moov is partnering with Jack Henry to make digital #payments easier for small and medium-sized businesses. A note about this partnership from Wade Arnold: "We look forward to working with Jack Henry to modernize payments for SMBs through community and regional financial institutions. This solution will provide many benefits to SMBs, including one-click enrollment, automated itemized transaction processing and reconciliation, instant balance transfers from linked accounts to cover same-day transaction needs, and an integrated payment relationship with the financial institution." Here’s to making financial services more accessible and better for everyone. 💪 👇 Read the full release below.

Build something beautiful. Everyday. Many builders get hung up on proving they’re “developer-first” or “customer-obsessed.” Your product needs to be all of those things. But the best products aren’t just functional. Sometimes the best solutions aren’t even the most simple. The industry-changing products are always beautiful. Take the iPad. To build that, you’ve got to solve some really hard problems down the stack. But if you can pull that off, you’ve got a beautiful product. As Steve Jobs explained, "Simple can be harder than complex: you have to work hard to get your thinking clean to make it simple" Focusing on a product's beauty means building something that excites YOU—not just your customers, but you, your product managers, your engineers, everyone. Finding the most beautiful answer to the problem—that’s your north star. That’s what drives us at Moov. If it seems like magic, then we did our job. 🪄

Taking the Money20/20 stage with Wade Arnold, founder and CEO of Moov and Angela Strange, general partner at Andreessen Horowitz, was an incredible experience. Our co-founder and CEO Rhett Roberts had the opportunity to sit down with Wade and Angela and discuss the evolving payments landscape, emphasizing the importance of personalized credit products and innovation in winning customer relationships and driving the future of finance. We love being a part of these conversations and look forward to continue the journey of innovation in payments. 🚀 #m2020

Curious about the future of payments? If you’re in Vegas for Money20/20, don’t miss this insightful discussion featuring our co-founder and CEO Rhett Roberts, along with Wade Arnold, founder and CEO of Moov, and Angela Strange, general partner at Andreessen Horowitz. Rhett will dive deep with Wade and Angela as they explore the origins of the payments revolution and what lies ahead for the industry. 📍 Join us at the "Off the Record Stage" today at 10:35 AM for this illuminating discussion with these industry-leading experts. #m2020

I’m impressed with Wade Arnold's initiative at Moov to enable comprehensive customer data access. Access to your business's full data ecosystem is fundamental for generating meaningful insights and essential for successful AI implementation. Many organizations still face barriers to accessing their critical data, but Moov is leading by example in solving this challenge. Well done, Wade Arnold, for championing data accessibility. #AllMyData

Community banks tend to believe two things: Their community is better off because they exist. They provide better service than anyone else in their area. However, the data just doesn’t match: Small-business accounts at community banks and credit unions decreased from 28% to just 16% of all US commercial accounts from 2018-2023. That’s a 43% drop in 5 years! * I’m not being a troll. I’m presenting facts to encourage bankers to get precise about 3 things: 1️⃣ Define exactly what your community bank does that’s better. Show me the data. How do you help small businesses and their employees make the community better? What do you do that’s better than a regional bank who offers the same thing? A lot of community bankers think, We do loans they can’t get from bigger banks. We have lower default rates. I know the people in my community, they know us, so we do better underwriting. That’s great. But… 2️⃣ Are they actually banking with you? Do they use their checking account or debit card? Are they running all of their payroll, invoicing, and expense management entirely through your bank? Don’t conflate being good at small-business loans with being good at small business. Which leads to my next point… 3️⃣ What can you do to help them run their business? What are the partnerships that would enable it? Getting money into their accounts is just the first step. Say you give them a loan. But now they have to figure out everything else: things like accounts receivable, accounts payable, payroll, and spend management. If all you’ve done is give them a plastic card, don’t confuse that with being the AmEx of their category, and it’s definitely not Ramp. But you should be asking yourself: who can I partner with that will make my offering as good as, say, Ramp’s corporate spend management? Every small-business owner has to spend time on a million things just to grow the business and ultimately the community. If you help them beyond the loan, that’s the service you bring to the community that no one else can. * Javelin - Small business neobanks are out flanking traditional banks

In this episode of #ThePurposefulBanker, we welcome back Sam Maule from Moov, a speaker at our upcoming #BankOnPurpose leadership conference and a self-proclaimed "technology optimist," to talk about #AI, #fraud, and the profound effect #technology is having on business. Subscribe to the #podcast on Apple, Spotify or wherever you listen to podcasts. 🎙 🎧 Apple ➡ https://apple.co/46sUhZ9 Spotify ➡ https://spoti.fi/3EUdffo https://bit.ly/4e8bM4E

✨The Moov team is heading to #Money2020 next week! If you want to talk about #payments, reach out to Wade Arnold and Sam Maule. 💸 We hope to see you there. 💪

🤝 Businesses need partners to help fuel progress, whether it's cloud infrastructure, logistics, or other services. These are the top B2B organizations helping businesses thrive. Thanks for the recognition, Built In! 🙌

Just because you don’t have a storefront doesn’t mean you don’t have a use case for physical card payments. Think of trade shows, or donation dinners, for example. Imagine how much more efficient it would be if you didn’t have to tell people to go online to make a purchase in these environments. Instead, you could accept payments then and there on your Apple or Android device. This is the kind of payment my team at Moov is working to support. We’ve recognized that, in order for Moov to step up its impact as a payment processor, we need to facilitate more than just card-not-present situations. There are hidden advantages to tap-to-pay payments, too. As a business, if your customers are doing card-present payments then you’re saving 30% on interchange costs. While the amount you pay for processing fees depends on the card issued, in each case it’s significantly cheaper for card-present situations. By opening up your business to card-present payments, you’ll be able to tokenize customers’ cards and use that information - instead of a virtual card - to pay for future online subscriptions. That way, the 30% savings carry across the entire lifecycle of that customer’s online payments. The impact can be massive.