Helping Banks Break the Fintech Wall

The human horizons are more expansive than one can even imagine, and yet nothing they cover can be deemed as important as our ability to grow on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a full-blown tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident in recent times, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.

Treasury Prime, the leading embedded banking software company, has officially launched a series of new initiatives that are all geared towards enhancing support for banks and credit unions so to let them directly sell, manage, and service fintechs, along with other corporate customers. To join the same, the company will also enhance its focus on direct-to-bank partnerships and accelerate other efforts to drive long-term success and growth. Anyway, coming back to the company’s initiatives, they begin from a new Bank-Direct product, which has its utility rooted in making real-time collaboration between bank and fintech partners easy and convenient. This it is going to do through a set of self-service tools and features that allow banks a complete access of actionable insights, while simultaneously enabling them to customize risk controls, and utilize a unified dashboard for better handling of their collaborations with fintech partners. Next up, the development will guide banks at every step, as they try and close their own deals. Such an arrangement would involve development of automated screening tools to identify, in the first place, the fintechs they enlist as partners. Not just that, it also includes a new business development team, a team that bears the responsibility to deliver specialized advice whenever required. Then, there is the prospect of facilitating platform implementation and customer onboarding. Here, the core idea is to streamline contracts, and therefore, adequately inform regulators about the bank’s pledge to independently oversee its fintech customers.

“Treasury Prime is unique in the industry because we strengthen bank-led, fintech relationships,” said Jeff Nowicki, Chief Banking Officer at Treasury Prime. “As we step up our efforts to serve America’s banks and credit unions, the powerful combination of Treasury Prime’s modern, API-driven infrastructure and our Bank-Direct product means that we can offer the industry’s most transparent, flexible, and compliant operating system and drive the confidence for more firms to join the embedded banking revolution.”

Markedly enough, Treasury Prime’s latest brainchild also brings to the fore greater flexibility for banking institutions when the agenda is personalizing their partnerships with fintech customers, deepening those relationships, and building their own fintech brands. This is further joined by the fact that one can also optimize investments in personnel and infrastructure to drive bank-led fintech and embedded banking partnerships.

“The future of banking is embedded, with regulated institutions and technology firms working closely together to deliver critical financial services within new channels and apps, and the most successful fintechs are forging direct partnerships with banks,” said Chris Dean, the CEO and co-founder of Treasury Prime. “That is why Treasury Prime is doubling down on a “bank-direct” approach, and is launching a Bank-Direct product that makes it possible for any bank to build a safe and successful embedded banking business line.”

Founded in 2017, Treasury Prime has risen up the on the back of its ability provide cutting-edge embedded banking software, which paves the way for relevant institutions to connect with fintech and enterprise clients to access everything they need in the context of launching innovative financial products. Apart from that, the company also has a robust partner marketplace, a marketplace which delivers at your disposal a wide range of auxiliary services, including FDIC insurance through the Intrafi network. The company’s excellence in what it does can be understood once you look at its clientele a clientele where we have companies like AngelList,  Zeta, Mayfair, first dollar, Buildertrend, Alto, Wagestream, Sydecar, and various others. In case that’s not convincing enough for you, then we can also mention how Treasury Prime, till date, has been named the Best Banking-as-a-Service Platform at Tearsheet Embedded Awards 2021, as well as for the year 2022.  Beyond that, it has even cracked the CB Insights’ annual 2021 Fintech 250 list.

“Regulators are demanding that banks and regulated financial institutions directly oversee the activities of their fintech partners, but these institutions need the right tools and resources to succeed,” said Sheetal Parikh, General Counsel, Chief Compliance Officer at Treasury Prime. “We clearly see where embedded banking is headed and are following our customers that recognize that Treasury Prime’s bank-direct approach will ultimately create a safer and more sustainable ecosystem for all participants – banks, fintechs, and partners alike.”