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Panacea Financial Unveils New Digital Platform for Consumer and Business Customers

  • Press

Panacea Financial provides enhanced banking experience with new and improved features.

LITTLE ROCK, Arkansas — Panacea Financial, a division of Primis that provides financial services for doctors through all stages of their education, training and practice, is excited to announce the launch of its new and improved digital platform, which caters to both consumer and business customers.

The new digital platform has several new features aimed at providing users with a seamless and intuitive banking experience, including account balance trends, simple, flexible money transfers, and Plaid integration. Improved features include faster mobile deposit capture, improved bill pay experience, and enhanced security.

This upgrade marks a significant milestone in Panacea’s ongoing commitment to delivering innovative and efficient banking solutions.

“We are thrilled to introduce our new digital platform, which represents a leap forward in our digital banking capabilities,” said Ned Palmer, COO and co-founder of Panacea Financial. “Our customers are at the heart of everything we do, and this upgrade reflects our dedication to providing them with the best possible banking experience. The new features and enhancements are designed to offer greater convenience, improved functionality, and robust security, ensuring that our customers can bank with confidence.”

The platform is hosted on Bankjoy, providing a secure, consistent, and intuitive user experience for all Panacea customers, across all digital channels.

About Panacea Financial

Panacea Financial, a Division of Primis (NASDAQ: FRST), focuses on providing world class financial services for dentists, physicians, and veterinarians through all stages of their training and practice. Panacea offers a full suite of banking and technology solutions specifically built for doctors, by doctors. Through the Panacea Financial Foundation, its non-profit arm, the Company is dedicated to expanding ethnic and racial diversity within the medical field, providing more than $200,000 in scholarships and grants to underrepresented minority medical students, residents, and fellows since 2021. For more information, visit PanaceaFinancial.com. Follow Panacea Financial on Instagram, Facebook, Twitter and LinkedIn.

Media Contact

[email protected]
617-817-2291

Media Contact
[email protected]
833-472-6223

Here’s to better financial solutions for physicians, dentists and veterinarians.

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Panacea Financial Holdings partners with Primis Bank, Member FDIC, to deliver banking services through its Panacea Financial Division.

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Fine Print

1. All personal loans have a $100 origination fee. To obtain a new loan with Panacea Financial, you must also have a Panacea checking account; there is no fee to open the account, a minimum deposit of $25 required, and there is no minimum balance. Other fees and charges may apply, see this link for full terms and conditions. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. All APRs assume a 0.50% discount with auto-pay from a Panacea Checking account. We offer a 0.25% discount with auto-pay from a non-Panacea checking account.  To check the rates and terms you qualify for, click “Apply Today” and Panacea will conduct a soft credit pull to determine your possible rate and will not affect your credit score. Not all applicants qualify for the lowest rate or maximum loan amount; subject to credit approval.  Total borrower maximum varies by stage of career and with credit score: In School maximum is between $1,000 – $10,000; In Training maximum is between $1,000 – $20,000; In Practice maximum is between $1,000 – $50,000. Panacea utilizes the Equifax credit bureau, with a FICO score minimum of 660 to qualify for a personal loan.

2. No payments during the first year. For a 5-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization years 4 and 5. For a 7-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization over years 4, 5, 6, and 7.

3. For a 3-year term, you make interest-only payments in years 1 and 2. Full amortization in year 3. For a 5-year term, you make interest-only payments in years 1, 2, and 3. Full amortization in years 4, and 5. For a 7-year term, you make interest-only payments in years 1, 2, 3, and 4. Full amortization in years 5, 6, and 7.

4. Interest-only payments during first 6 months of loan. Full amortization over remainder of loan.

5. Adverse Credit Event: two or more payments more than 30 days late, totaling more than $500, within the prior 6 months; accounts with a total outstanding balance greater than $1,000 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off during the two years preceding the date of the credit report; default determination during the five years preceding the date of the credit report; bankruptcy discharge during the five years preceding the date of the credit report; repossession during the five years preceding the date of the credit report; foreclosure during the five years preceding the date of the credit report; charge-off/write-off of a federal student aid debt during the five years preceding the date of the credit report; wage garnishment during the five years preceding the date of the credit report; tax lien during the five years preceding the date of the credit report; consumer credit counseling within five years preceding the date of the credit report.

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