Novo · FinOps Profile

Novo Bank Finops

FinOps view of Novo. Novo business checking is free (no monthly fee, no minimum balance), so there is no usage-metered API spend to manage - Novo publishes no public developer API. Cost exposure comes from optional add-on products and standard banking fees: Express ACH faster payouts, Novo Funding cash advances (fixed-fee/factor), outgoing wires, insufficient-funds and similar fee-schedule items, and any aggregator costs (e.g. Plaid) incurred by a developer connecting to Novo data. Charges are modeled as Usage and Purchase categories accordingly.

Novo Bank Finops is the FinOps profile for Novo on the APIs.io network, aligned with the FinOps Foundation Framework.

It defines 5 billable meters, billed in USD, on a monthly cycle, and pricing category free-with-add-ons.

The profile maps 8 FOCUS columns for cost-allocation reporting.

Tagged areas include Banking, Business Banking, Fintech, Small Business, and Freelancers.

Category: Financial Services Pricing: Free-with-Add-ons Billing: Monthly FOCUS v1.3
BankingBusiness BankingFintechSmall BusinessFreelancersFinOpsCost ManagementFOCUS

Framework Alignment

Framework
FinOps Foundation Framework
Data Spec
FOCUS v1.3

Charge Categories

UsagePurchaseAdjustment

FOCUS Columns

BillingCurrency
USD
ChargeCategory
Usage
InvoiceIssuerName
Middlesex Federal Savings, F.A.
PricingCategory
Free-with-Add-ons
ProviderName
Novo
PublisherName
Novo
ServiceCategory
Financial Services
ServiceName
Novo Business Banking

Meters

monthly_account_fee
Unit: account
Monthly business checking fee. Novo checking is free; this meter is $0.
express_ach_payouts
Unit: transfers
Faster ACH payouts billed per transfer when Express ACH is used.
funding_fees
Unit: advances
Fixed fee/factor charged on Novo Funding cash advances, per advance.
wire_and_schedule_fees
Unit: events
Outgoing wires, insufficient-funds, and other fee-schedule charges.
aggregator_data_access
Unit: requests
Third-party aggregator (e.g. Plaid) costs incurred by a developer connecting to Novo account/transaction data. Billed by the aggregator, not Novo.

Sources