(Hypebot) — Nerve has launched as the first neobank created for musicians. The bank’s mobile app merges user experience and financial tech designed to “help artists build stronger communities and sustainable careers.”
Forbes defines neobanks as disruptors and “challenger banks” – fintech (financial technology) firms “that offer apps, software and other technologies to streamline mobile and online banking.”
Nerve offers tools and services in English and Spanish to help musicians manage their finances and plan for the future.
Services include:
- FDIC-insured business debit and savings accounts to help separatebusiness and personal finances
- Artist’s streaming and social follower data with the app
- Private networking to help professional musicians find each other, make payments, and collaborate
- Free instant payments to anyone with a Nerve account
- Access to 55,000 free ATMs perfect for the traveling musician
Nerve offers its FDIC insured accounts and services via a partnership with Piermont Bank, a women-founded that “blends the best of banking and agile fintechs”.
Nerve was co-founded by John Waupsh (CEO) and Ben Morrison (CTO), Waupsh is also the founder and CEO of Preservation Project, a boutique label dedicated to releasing rare funk and soul.
Nerve’s app will officially launch in the US on September 15th and plans to announce additional features and services for musicians in coming weeks.
Bruce Houghton is Founder and Editor of Hypebot and MusicThinkTank and serves as a Senior Advisor to Bandsintown which acquired both publications in 2019. He is the Founder and President of the Skyline Artists Agency and a professor for the Berklee College Of Music.
