As our first #MonitMilestone, we are excited to announce the launch of our newly designed website. We wanted our website to better reflect all of Monit’s offerings and capabilities for both banks and businesses that help them grow together, and provide an easier way to engage with us online. Our…


BOSTON — Apr. 15, 2021Monit, the award-winning mobile financial platform for small businesses, announced that it has closed a $5.2 million round of pre-Series A financing led by well-known fintech fund TTV Capital. Runway Venture Partners, Correlation Ventures, and private investors William Ruh and Joe Proto also participated…


Want to learn more about Monit? Together with our partners at Eastern Bank, Greater Lynn Chamber of Commerce and other great organizations we are offering a series of free webinars designed to provide a brief, in-depth look at how what Monit does — and how it’s helping people like you…


Once again, the Monit team was thrilled to receive an invitation to demo at Finovate! This time in sunny (well, virtual) San Francisco. As with our award-winning Best of Show performance at FinovateFall we chose to release a slew of exciting new features.

The Big News

We were super excited to have Ashley…


We’re excited to announce that Monit is SOC 2 Type I compliant! Committed to building trust with our partners, end-users, and the marketplace, we’re able to assure our customers of the highest standards of information security and protection.

Monit is a digital intelligence tool that empowers small-to-medium-sized businesses to manage…


Whew!!! Our first FinovateFall is in the books, and what a coming out party for Monit!

Prior to the event, we were thrilled to be selected as one of the demoing companies. …


To paraphrase Hemmingway, “How do you lose customers? Gradually, then suddenly.”

Customer satisfaction of small-to-medium size businesses (SMBs) with their primary financial institution has been on a decline for years and SMB churn is increasing, according to Aite Group and FIS.

Until recently, this trend was driven by larger banks…


As we know, for purposes of PPP forgiveness eligible payroll expenses, non-owner employee eligible payroll expenses are capped at $46,154 per employee (maximum annual salary of $100,000 * 24/52). However, owner employees and self-employed individuals’ eligible payroll expenses are capped at a minimum of:

Sole Proprietorship:

  • 2.5/12 (20.83%) of 2019…

Banking in 2020 has seen its share of market-changing events. A global pandemic alongside an exploding fintech market has created a new landscape of digital innovation, allowing banks and their customers to connect like never before.

Some are heralding 2020 as the year of true banking digital transformation (here, here


The FTE calculation was put in as a way to ensure that PPP loans given were used to maintain the same number of employees, as well as the same amount of pay as prior to COVID-19.

The U.S. Treasury defines an FTE (full time equivalent) as any employee who works…

Team Monit

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