Fremont, CA: FinTech firms have used access to technology, data, innovative cultures, and advanced analytics to transform the banking ecosystem over the last few years. While individual FinTech firms' success has varied greatly, the results have influenced payments, infrastructure, access to financial services, distribution, and sustainability components.
Treasury Prime, the leading Banking as a Service (BaaS) company, has been chosen by Emprise Bank as its strategic partner for its new embedded banking initiative. Emprise Bank and Treasury Prime will collaborate to create a program that will allow businesses to quickly and easily embed banking services, such as bank accounts, payments, and cards, into their products or offerings. The program is set to go live in the first quarter of 2022, and the teams are currently in the process of lining up the first fintech clients.
"The banking industry is rapidly evolving as fintechs and neobanks develop exciting new products and capabilities for their customers," reported Emprise Bank Chairman and CEO Matt Michaelis. "We see an extraordinary opportunity to support their efforts by delivering a strong and agile sponsor bank service, in partnership with Treasury Prime, that allows our fintech clients to focus on what they do well. These partnerships will lead to enhanced experiences and improved outcomes for consumers."
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Treasury Prime integrates deeply and thoroughly into all of the bank's core systems and payment gateways with each new bank partner. Treasury Prime then provides an API that allows external clients, such as fintech companies or other businesses, to easily embed banking services. Clients will benefit from direct partnerships with Treasury Prime and Emprise, allowing them to move quickly to bring their companies or offerings to market. Treasury Prime's fintech customer base is expanding at an exponential rate, and the company is adding a new bank partner every month.
