Rho Enters SMB Banking Market With Emphasis On APIs

A new small business banking and financial services provider is launching in the U.S. market.
Rho Technologies announced Tuesday (Oct. 15) the rollout of its flagship offering Rho Business Banking, an FDIC insured bank account service with an integrated commercial card offering, as well as cash and treasury management tools.In a press release sent to PYMNTS, Rho Technologies pointed to its focus on API integrations with Rho Business Banking, enabling the solution to connect with existing back-office solutions that small businesses use including Slack, Xero and QuickBooks. The bank also supports same-day ACH payments and does not charge transfer or wire fees. Deposits earn 1.6 percent APY on business savings deposits.