New banks

Small business bank Joust publicly launches with new app

  • Joust leaves beta and launches a new banking app.
  • The business bank now offers analytics, debit card management, and invoicing in addition to invoice financing.
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Small business bank Joust publicly launches with new app

Joust, a digital bank for the self-employed, publicly launched with a new app and several new features.

  • The challenger bank is designed to address the banking needs for solopreneurs and freelancers
  • Joust’s banking app was previously in beta release and this new app adds an analytics dashboard, Joust Visa debit card management, and invoice creation and payments functionality.
  • These new functions complement Joust’s PayArmour tool, which provides invoice financing, and Joust’s combined savings and merchant account
  • Joust uses nbkc as its partner bank and Visa for its debit card.

“We are thrilled to announce our new app,” said Joust’s CEO and co-Founder, Lamine Zarrad. “Since our beta launch, we have kept a steady eye on our users and really dug deep into our product feedback. Our users are risk-takers who want one place to easily manage their finances — so they can have the time and space to focus on their passions. They wanted a modern, streamlined user experience, ways to quickly visualize their finances, and manage clients, income and payments.”

Some challenger banks, like Joust, are creating niche solutions to serve a specific target audience.

  • The U.S. has 57 million freelancers, and it’s expected that more than 50 percent of the county’s workforce will freelance in some capacity by 2027.
  • Participating in the gig economy requires managing clients, accepting a range of payments, and riding the ups and downs of irregular income.
  • Joust plans to add new features during 2020, including P2P payments, savings goals and remittances, direct deposit, invoice estimate creation, and payment reminders.

“Basically, our users want one business platform that helps them from point A to Z. Our new app does that and will continue to do so throughout the year,” said Zarrad.

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