The finance industry plays a crucial role in the modern economy, providing individuals and businesses with the tools they need to manage their resources and plan for the future. In recent years the industry has seen a surge in innovation, with new technologies and business models transforming how we save, invest, and borrow money.
Novae is one such company that is redefining how this sector functions. Reco McDaniel McCambry, President & CEO of Novae, spoke with the CEOViews team to share his story and how and why Novae is changing the way we manage money.
CEOViews: Novae is a financial technology, consulting, and training company based in Conyers, GA. You offer consumer and business credit building, consumer and business loans, consumer financing for businesses, and other financial services for consumers and small businesses. How did it all begin? What is your mission?
Reco: Prior to starting Novae, I was a consultant in the direct sales industry and a motivational speaker. Many of the people I spoke to were excited about improving their lives and their finances but did not have a plan or the necessary knowledge to do so. I couldn’t find any other direct sales companies that I felt confident referring people to so that’s why and how Novae was born. Our mission is not only to inspire people to get more out of life but also to educate them on how to go about it and then provide them with opportunities to make it happen!
The company’s goal is to provide people with the knowledge and tools they need to find success in their personal life primarily and then in their businesses and by becoming their own bosses. Novae has expanded its services to include financial services like online banking and Buy Now, Pay Later for businesses and consumers, with a focus on serving those who have historically struggled to access those services. As a result, Novae has been identified by Inc 5000 as one of the fastest-growing businesses in America for two years in a row.
CEOViews: Novae has been recognized as one of the “Most Innovative companies to watch.” How has your journey been so far?
Reco: The journey has been amazing. It hasn’t been easy− working a lot of late nights but it’s so rewarding. We’ve had hiccups and moments of doubt, just like any other business. But in recent years, we’ve discovered who we really are as a business and learned more about our core competencies. This has helped us take the services we offer to the next level. I’m always so excited when we roll out a new product and I know it’s going to help people prosper.
CEOViews: What do you provide to your customers, affiliates, and white-label partners when they choose to enroll with one of your programs?
Novae: We just do our best to provide the resources, guidance, support and education that they need to succeed. The results are ultimately down to the effort the individual puts in, of course. But we try to make it as easy as possible for them to find the best opportunities to improve their personal situation and expand their businesses. We have a lot of resources and knowledge that we’ve curated over the years to try to give people the sort of advantage you’d get from an experienced business mentor in your industry.
CEOViews: How do you innovatively accelerate the revenue of businesses with business credit building, business loans, consumer financing for businesses?
Reco: We’ve developed an optimized method for building business credit so new businesses and consumers can access credit lines and loans as well as grants, to help them grow and scale their businesses. We also offer consumer financing, particularly for industries where the customer can benefit financially from the investment in the long run to combat historical inequalities and break the cycle of financial insecurity. Novae has a network of knowledgeable and successful people and offers a variety of opportunities for businesses and consumers through independent sales professionals and experts.
CEOViews: How do you handle consumers from all these different sectors so innovatively?
Reco: One word – Fintech. We use the power of APIs and other proprietary software to build the best possible resources and then automate them as much as possible. This makes it easy for new affiliates to use on their own schedules at their own pace. In this way we’re able to juggle all of these synergistic products which can build on and benefit from each other with a relatively small administrative team.
CEOViews: What innovative entrepreneurship opportunities does Novae offer?
Reco: Novae offers an Affiliate Program, Co-Brand Program, and White Label Partner Program which are open to anyone from young adults to retirees. We offer specialized knowledge and research on how to run a profitable business in a specific niche and target market, and provide their affiliates with the necessary tech and marketing help to start promoting their Novae business immediately after joining the program. In addition, recently we have rolled out with a Co-Brand Program that allows any business owner who wants to leverage Novae’s products and services but keep their brand front and center can do so. The company can leverage our credibility and instantly increase their income potential. The goal is to make it as simple as possible for our partner programs to start earning money quickly and build confidence and cash flow.
The company’s goal is to provide people with the knowledge and tools they need to find success in their personal life primarily and then in their business and by becoming their own bosses.
CEOViews: Can you tell us about Novae Online Banking’s services? What innovative features does it offer its users?
Reco: Novae Online Banking is a new service that allows anyone to create an FDIC-insured bank account completely online. We’ve partnered with retailers in underserved neighborhoods to allow customers to deposit cash into their online bank accounts at local stores, making it easier for people in these areas to access banking services. This is particularly important for people who may be unbanked or underbanked, as they may not have access to physical bank branches or may not be able to take time off work to visit them. This service is aimed at helping people in these neighborhoods to access financial education and business opportunities, allowing them to invest in their own financial futures and build wealth.
Novae University is a business and financial education program that aims to provide a comprehensive education, including traditional business knowledge and “soft” skills like social skills, public speaking, and networking.
CEOViews: Novae also provides innovative programs to small businesses. Can you tell us more about those?
Reco: Novae is developing a grant search engine that allows small business owners to search a large database of grants being offered by governments, and state and private think tanks to stimulate small businesses. The grant search engine is designed to make it easier for small business owners to identify and apply for grants they may be eligible for. We are also planning to roll out an AI-driven credit-building solution that automates the process of building credit and automatically disputes errors on credit reports. We are also excited about the potential impact of other new products, such as the Buy Now, Pay Later program and Novae Online Banking, which can help small business owners and those who may not have had a bank account before. Our goal is to make these resources as accessible and easy to use as possible.
CEOViews: Can you tell us more Novae University’s approach to connecting with and changing the lives of people across the country?
Reco: Novae University is a business and financial education program that aims to provide a comprehensive education, including traditional business knowledge and “soft” skills like social skills, public speaking, and networking. It’s designed to be accessible to people who may not have time to attend a traditional university and may be working multiple jobs. The program is not academically accredited, but it is based on the experiences of real-life business owners and focuses on the skills and knowledge needed to succeed as a business owner. The goal is to provide a real-world education that is efficient and accessible for people.
CEOViews: What type of innovative technologies has your firm implemented so far to allow you to carry out your work processes smoothly?
Reco: Novae uses proprietary algorithms to offer various services to its customers and affiliates, such as “instant decision applications” for loans, which allow members to see whether they’ve been pre-approved or declined within seconds of applying through one application that submits to multiple lenders through the website. We have software that tracks sales for affiliates and their sales teams, allowing them to see what’s working and what’s not. Our goal is to automate as much as possible and make it as quick and easy as possible for business owners to use best practices and access the data they need to grow their businesses. The emphasis is on making small improvements that add up to make a big difference.
CEOViews: What upcoming market trends do you predict in your industry?
Reco: The growth of financial technology will continue to make it easier for people to move money and make optimal financial decisions. The ability to conduct business virtually and remotely will open up new opportunities for small business owners and self-employment. Companies that can find ways to provide tools to small business owners will be the key players in the digital economy. Lastly, the biggest game changer is coupling our business model of multi-level, word-of-mouth marketing with financial technology. Because almost everyone in the US has a phone, now all the services that are available in major cities are readily available in rural areas around the country, all due to fintech! Fintech is the future! Novae is the future!