Sterling National Bank Signs Agreement with Rho Technologies
April 05 2021 - 8:00AM
Sterling National Bank, the wholly-owned operating bank subsidiary
of Sterling Bancorp (NYSE: STL), today announced a Banking as a
Service (BaaS) agreement with Rho Technologies, the fintech company
behind Rho Business Banking. Rho Technologies is a digital platform
that provides companies with a suite of commercial banking and
financial software solutions. Sterling will provide Rho with a
holistic package of wholesale banking solutions to support their
rapid expansion and accelerate customer growth. This collaboration
is a multi-service partnership that combines Sterling’s product,
operational and regulatory expertise with Rho’s sophisticated
technology and product capabilities.
This collaboration marks the latest in a series of
strategic partnerships and digital technology investments for
Sterling -- designed to create customized products and solutions
for a diverse set of financial and financial technology companies.
With more than $30 billion in assets, Sterling consistently
delivers exceptional relationship-driven products and services to
consumer, small business, and commercial clients.
“We are excited to partner with Rho. Their innovative digital
banking platform provides businesses with access to the banking,
budgeting and payments products they need to succeed,” said Matthew
Smith, Executive Managing Director; Direct Banking and Banking as a
Service. “Our agreement with Rho is an important step in broadening
our portfolio of Banking as a Service arrangements with leading
technology companies and accelerating our organization-wide digital
transformation to offer customer-centric, digitally-enabled
solutions to the marketplace.”
“Rho is thrilled to collaborate with Sterling National Bank. We
spent a lot of time seeking a partner that had the capabilities and
scale that our current and future customers need,” said Everett
Cook, CEO at Rho Technologies. “We look forward to working with
Sterling in supporting our future product and service
offerings.”
About Sterling National BankSterling National
Bank specializes in the delivery of financial services and
solutions for small to mid-size businesses and consumers within the
communities we serve through a distinctive team-based delivery
approach utilizing highly experienced, fully dedicated relationship
managers. Sterling National Bank offers a complete line of
commercial, business, and consumer banking products and services.
For more information, visit www.snb.com.
About Rho: Rho Technologies is the
NYC-based fintech behind Rho Business Banking, the only finance
platform built from the ground-up to help business teams work
better together. The Rho Business Banking platform approach
consists of a single solution that encompasses both collaborative
finance software and commercial-grade banking, which together help
businesses save time, money, and effort as they grow.
Sterling National Bank |
Two Blue Hill Plaza, Second Floor |
Pearl River, NY 10965 |
|
T 845.369.8040 |
F 845.369.8255 |
|
http://www.sterlingbancorp.com |
|
STERLING NATIONAL BANK
CONTACT: |
Emlen Harmon, Senior
Managing Director – Investor Relations |
212.309.7646 |
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