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Piermont Bank and BlxckPay Announce a New Model of Bank-Fintech Partnership Connecting Business Banking and Workforce Payments

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Piermont Bank and BlxckPay Announce a New Model of Bank-Fintech Partnership Connecting Business Banking and Workforce Payments

Piermont Bank today announced a partnership with BlxckPay designed to connect the banking needs of small and midsize businesses with the payroll needs of their employees. Through the partnership, Piermont will support BlxckPay’s employer customers with full-service business bank accounts and support their employees through payroll cards, bringing business banking and workforce payments into a coordinated financial operations offering.

With BlxckPay, we are connecting the employer’s business needs with the employee’s payroll needs to solve a broader business challenge, said Wendy Cai-Lee, CEO and Founder of Piermont Bank.

The partnership introduces a model built around the businesses and people a fintech serves. Piermont brings commercial banking capabilities and client service, while BlxckPay brings payroll technology and experience serving employers with seasonal and distributed workforces. Together, the companies aim to help SMBs manage business funds and pay their employees through a more connected bank–fintech relationship.

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“The next generation of bank–fintech partnerships should start with a deeper understanding of the customer’s business needs—not simply their banking needs,” said Wendy Cai-Lee, Founder and CEO of Piermont Bank. “At Piermont, we start by understanding the business, identifying the pain points that can get in the way of growth and efficiency, and then looking at where financial services can be part of the solution. With BlxckPay, we are connecting the employer’s business needs with the employee’s payroll needs to solve a broader business challenge.



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