# Business Banking Fintech Roundup

> A comparative guide to the hidden banking infrastructure beneath Mercury, Novo, Relay, Found and Bluevine. The story separates software features from deposit custody, identifies each platform’s disclosed bank partner and sweep arrangement, explains the recordkeeping conditions behind pass-through FDIC insurance, and gives business owners a practical diligence checklist for deciding where to keep operating cash.

## Achievements

- Mercury advertises eligibility for up to $5 million in FDIC insurance through Choice Financial Group, Column N.A. and their sweep networks.
- Relay advertises eligibility for up to $3 million through Thread Bank’s insured cash sweep using IntraFi.
- Bluevine advertises eligibility for up to $3 million through Coastal Community Bank and program banks.
- Novo publicly identifies Middlesex Federal Savings, F.A. as the bank providing its business checking account.
- Novo’s current network agreement allows Middlesex Federal Savings to place some or all funds beneficially in a customer’s name at banks in a StoneCastle deposit network.
- Found’s current legal agreement identifies Lead Bank as the bank providing its deposit account and card services.

## Latest updates

- **2026-07** — Found published updated business account terms naming Lead Bank and describing possible IntraFi placement of deposits.
- **2026-06** — Novo’s legal documents continued to identify Novo as a fintech rather than a bank and Middlesex Federal Savings as its banking provider.
- **2026-01** — Mercury updated its sweep-network explainer and continued to advertise up to $5 million of eligible FDIC coverage through partner-bank sweep networks.

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Published by YesPress — https://yespress.io
Last updated: 2026-08-15