Novo Announces Gusto Integration for Embedded Payroll Visibility

IAMI, June 6, 2023 — Novo, the powerfully simple® financial platform for small businesses, today announced that it is launching a payroll integration with leading payroll and benefits platform Gusto.

"Payroll can be one of the most significant monthly expenses for small business owners, yet they frequently face difficulties in effectively planning their finances due to limited visibility regarding payroll due dates and withdrawals — which can result in cash flow issues or late payments to employees,” said Brad Paterson, EVP, Ecosystem at Novo. “Thanks to our new, one-of-a-kind integration, Novo is the best checking account platform for small businesses running payroll through Gusto. Novo makes payroll a transparent and stress-free experience by embedding payroll data within your business checking account.”

With the Gusto integration, Novo customers can:  

• Access important financial information in seconds through a Novo Dashboard summary view of key payroll features;
• Gain full visibility into payroll deadlines to ensure that your employees get paid on time;
• Centralize banking and payroll insights to avoid overdrafts or insufficient funds issues;
• Verify the accuracy of their payroll information and address any discrepancies or errors before the payroll is processed; and
• Avoid payday stress due to full financial visibility on your Novo dashboard. 

Novo's new integration is the latest in a series of capabilities the company has introduced over the last year to help small business owners improve their cash flow. In February 2023, Novo announced enhancements to Novo Invoices to help small business owners receive payments faster. In 2022, Novo launched Novo Boost for giving small businesses and the self-employed  same-day access to payments received through Stripe, and Express ACH for processing same-day ACH payments. With Novo Boost plus Express ACH, the typical week-long process of moving money from an e-commerce platform to a business checking account, and then using these funds to pay yourself or a vendor, can now happen in one day. 

About Novo

Novo Platform, Inc. (“Novo”) is the powerfully simple financial platform for small businesses. To learn more, visit www.novo.co.

Disclosure

Novo is a fintech, and not a bank. Novo acts as a service provider to Middlesex Federal Savings, F.A., and the deposit and banking products obtained through the Novo platform are provided by Middlesex Federal Savings, F.A.

Middlesex Federal Savings, F.A. is a federal savings bank and an FDIC-insured depository institution (FDIC Certificate 28368). Deposits made at Middlesex Federal Savings, F.A. through the Novo platform receive FDIC insurance protection on a pass-through basis up to the applicable legal limit. When determining the amount of your deposits covered by FDIC insurance, please note all deposits you make through the Novo platform will be aggregated with all deposit accounts of the same ownership and/or vesting held at Middlesex Federal Savings, F.A. and Middlesex Federal Savings, F.A. brands. Additional information regarding FDIC insurance coverage is available at www.fdic.gov.