OneCore Small-Biz Gateway Admits All Banks
American Banker (11/06/00) Vol. 13, No. 7 p.11; Bach, Deborah

OneCore Financial Network, which in two years has attracted 5,000 small businesses to its online financial service, has opened itself up in allowing any bank to private-label and resell its services. The company's offering, which provides bill payment, 401(k), leasing, loans, consolidated cash management, credit and merchant accounts, and payroll, had previously been reserved solely for OneCore customers with money market accounts. The maneuver will ideally perk up interest in the service among banks, which have typically focused their efforts on retail and large corporate accounts. Many OneCore clients swear by the service, marveling at its round-the-clock access and real-time processing. OneCore president and CEO Jack Littman-Quinn says of his offering, "This platform was built by entrepreneurs, for entrepreneurs. We set it up as if we were using it ourselves. It's very hard for a large financial institution to get into the shoes of an entrepreneur and figure out what a small entrepreneur is going to need."


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