Bankjoy, a leading digital banking provider has been honored as a 2024 Finovate Awards finalist, alongside Panacea Financial, a nationwide digital neobank providing banking services designed to meet the unique needs of healthcare professionals. The Finovate Awards recognize the companies driving fintech innovation forward and the individuals bringing new ideas to life.

Panacea Financial and Bankjoy were recognized as finalists in the Finovate Awards’  “Best Fintech Partnership” category. The Finovate Awards’ “Best Fintech Partnership” is given to a financial institution and fintech company who are collaborating to build something new and groundbreaking, which is exactly what Panacea and Bankjoy have achieved. 

When doctors need financial support from a traditional bank, they often hit roadblocks. Additionally, doctors have limited time and atypical working hours, so traditional banking hours do not always work for their busy schedules. That’s why Panacea Financial is digital-only and offers access to bankers around the clock, so that even doctors working night-shifts can manage their finances quickly and easily. To facilitate this, Panacea Financial partnered with Bankjoy to provide a full suite of digital banking features, specifically geared for the banking needs of healthcare professionals. 

Since partnering in late 2023, Panacea Financial has continued growing its client base of physicians, dentists, and veterinarians with the help of Bankjoy’s suite of modern digital banking tools. Using Bankjoy’s end-to-end digital banking platform, Panacea’s clients have been able to easily manage their personal and practice finances on their preferred devices at any time. Panacea’s product and service offerings, which are accessible via Bankjoy’s online and mobile banking platform, are built to provide financial support to physicians, dentists, and veterinarians throughout their careers: from school, through residency training, and into their practice. 

“The medical field has distinct banking needs, which makes them different from other client demographics. Doctors typically have long periods of low income and high debt during school and training. Our business model is unique because we aim to serve these clients at the start of their training and foster lifelong relationships,” said Dr. Ned Palmer, COO of Panacea Financial. “ Bankjoy has been an instrumental partner with an incredible banking platform, and we continue to develop new features and technologies together to help us better serve our community of doctors.” 

“We’re honored to be recognized in this year’s Finovate Awards. We take pride in serving an organization like Panacea Financial, who is making a meaningful impact on the financial lives of healthcare workers across the U.S.,” said Mike Duncan, CEO of Bankjoy. “Our team is proud to support them with our suite of digital banking tools that make managing finances easier for busy doctors and other medical professionals.”