This strategic partnership positions Meow for continued dominance in the competitive financial technology landscape.
Meow Technologies is a financial technology company offering business banking solutions through its partner banks with free wires and ACHs.
Importantly, Bridge was able to move at the speed Meow expected from its stablecoin partner. The solution was live less than a month after development began, making Meow the first business banking company in the United States to offer these capabilities.
For business checking accounts at the same underlying bank, you can perform instant internal transfers:
“There has been a change of administration and change in the interpretation of the law. The law has not changed.”
. "Their intelligent controls and automated solutions have allowed us to continue scaling thoughtfully, knowing that we have robust fraud detection in place in addition to our existing processes.
That leaves copyright firms in a position where, although the fintechs are glad to offer them a US bank account at present, the underlying partner banks could in future choose to revoke permission. Meow and Brex did not respond when asked whether their partner banks have promised long-term access to banking services for copyright clients.
Meow enables customers to earn interest through high-yield checking accounts, purchase T-bills with lower annualized fees than traditional financial institutions offer, and benefit from continuous innovation on both its technology and its financial products.
S. Treasuries to venture debt, Meow makes it easy for startups to securely manage cash operations while earning yield.
Ensuring the authenticity and credibility of new businesses in a more self-service manner was a complex challenge that needed a sophisticated, automated solution to augment the existing team and streamline compliance reviews.
“What we're doing differently is we're treating financial services as a low-margin product,” Arvanaghi says. “We can actually become a profitable company by doing that, but that might not be the case for a company that has a thousand people or another fintech that hired 500 people.”
For example, Meow partners FirstBank and Grasshopper Bank both offer up to $125 million in FDIC-insurance through IntraFi’s sweep program which boasts a network of nearly 3,000 banks. Another Meow partner, Third Coast, offers FDIC-insurance up to $50 million through its own network. Arvanaghi says Meow is able to secure higher yields from the banks than a small business could get on its own, since it’s bringing in a large roster of sticky customers and its own interface.
It was both a prudent and gutsy decision. Prudent, because after the collapse of stablecoin TerraUSD in mid-May of 2022, they began hearing rumors that copyright hedge fund Three Arrows Capital would go bankrupt — which it soon did, eventually bringing a bundle of connected firms down. Gutsy, because just weeks before, they had closed a $22 million series A fundraising round from investors including Tiger Global, QED and yes, FTX itself.
“Bridge easily met our technical requirements for a stablecoin partner, but meow login more importantly, they were the kind of partner we knew we needed to work with: a high-slope team that understood our vision and could move fast enough to help us achieve it.
TrueBiz's risk assessments give us added confidence in reviewing and onboarding new businesses in a timely manner."