Treasury Prime is an API-first banking software platform that enables banks to extend their account and payment services to fintech and embedded banking clients. This allows banks to take on new types of customers and generate new sources of deposits and income.
This has allowed Treasury Prime to build the largest network of bank partners in their space, sometimes referred to as "Banking-as-a-Service."
Fintechs companies in the United States are legally obliged to partner with a chartered bank to hold deposits for their customers. Before the Treasury Prime bank network, those direct-to-bank partnerships were infeasibly costly and complex for all but the largest fintechs to take on.
Treasury Prime integrates with their bank partners' core and payment gateways, allowing fintech clients to call the API to open accounts, move money, issue cards, and more. On top of that, they provide the tooling that those banks and fintech clients need to view and manage their API banking activity.