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Nerve launches neobank for musicians

Source: Nerve

The music business deserves music banking. Today, Nerve announces the first neobank created specifically for musicians. Nerve’s revolutionary mobile app merges user experience and financial technologies to help artists build stronger communities and sustainable careers.

Nerve offers a multitude of customized tools to help English and Spanish-speaking musicians manage their finances and plan for the future. Services include:
• FDIC-insured* business debit and savings accounts to help the musician separate his business and personal financial life;
• Artist’s streaming and social follower data;
• Private networking feature to help professional musicians find each other, make payments, and collaborate;
• Free instant payments to anyone with a Nerve account; and
• Access to 55,000 free ATMs (perfect for the traveling musician).

Nerve’s app will officially launch in the U.S.A. on September 15, and on-board waiting list customers over the next several months.

Nerve was co-founded by John Waupsh (CEO) and Ben Morrison (CTO), who drew upon their fifteen-plus years as consumer banking and fintech innovators to create a streamlined solution to the unique banking challenges of the music business. Waupsh is also the founder and CEO of Preservation Project, a boutique label dedicated to releasing rare funk and soul. It was in that role that he first identified the need for a modern, sophisticated banking tool catering to independent musicians.

“Banks of days past would offer services that their local geography needed. Today, banking communities aren’t defined by rivers and railroads, but by the shared experience and goals of their customers,” says Waupsh. “Financial empowerment for musicians means giving them a banking platform that understands their unique needs with the tools to help them better manage their money.

“Musicians and bands at all stages of their development need smart financial management, access to the real-time data that drives their business, not to mention two-minute digital account opening, and collaboration and business banking features to run their brands effectively.”

Nerve plans to announce additional features and services for musicians following its September 15 launch 

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