Written by Finance Director Europe, August 1, 2023
Embedded banking software company Treasury Prime has joined forces with US-based Academy Bank to deliver embedded finance services to its clients in the financial services sector.
Through the collaboration, the parties aim to fulfil the growing demand for flexible and scalable solutions which efficiently address the changing needs of businesses and customers.
The banking-as-a-service (BaasS) partnership comes after Treasury Prime expands its bank network, which now exceeds 15 financial institutions across the country.
Headquartered in California, Treasury Prime provides institutions with a suite of complex services, including risk mitigation, money transfer and access to a chartered bank’s infrastructure.
Treasury Prime banking vice president Jeff Nowicki said: “Academy Bank’s ability to service deposit customers in a highly personalized manner, combined with their unwavering commitment to innovation, forms a strong foundation for our partnership.
“We are proud to welcome Academy Bank to our bank network and work together to deliver transformative banking experiences.”
The partnership aims to offer businesses seamless access to Academy Bank’s deposit services, allowing them to provide their clients with FDIC-insured accounts while being fully compliant with regulatory requirements.
Besides, the combination of Treasury Prime’s BaaS platform and Academy Bank’s banking infrastructure will assist businesses to launch and scale their payment and deposit products quickly.
Academy Bank fintech partnerships director David Robinson said: “This collaboration aligns perfectly with our commitment to innovation and focus on the fintech industry.
“By leveraging Treasury Prime’s technology, we can enhance our offerings and provide our fintech partners with the tools they need to accelerate their growth and deliver innovative financial services.”