Treasury Prime, the leading Banking as a Service (BaaS) company, announced that after a competitive evaluation, Emprise Bank has chosen Treasury Prime as its strategic partner for its new embedded banking initiative. Together, Emprise Bank and Treasury Prime will build a program to enable companies to quickly and easily embed banking services, including bank accounts, payments, and cards, into their products or offerings. The program is scheduled to go live in the first quarter of 2022 and the teams are lining up the first fintech clients.
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“There has been an explosion of investment in fintech companies and the vast majority of them need a supportive and reliable bank partner so they can build their businesses,” said Chris Dean, CEO of Treasury Prime. “Emprise Bank understands what it takes to be a great fintech bank: moving fast, providing clarity and counsel on regulatory issues and compliance, and supporting their clients as they go from launch to growth to scale. Together we’re going to power a new generation of fintech and neobank innovation.”
“The banking industry is rapidly evolving as fintechs and neobanks develop exciting new products and capabilities for their customers,” said Emprise Bank Chairman and CEOÂ 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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“Embedded finance has become a critical enabler in delivering personalized and relevant solutions as part of someone’s daily life,” said EVP Innovation and Strategy Jason Beckmann. “Through our partnership with Treasury Prime, we are able to accelerate innovation, partner with fintechs, do what we do best, and be a meaningful contributor to the rapid evolution of consumer behavior by delivering banking services in new ways.”
“We chose to work with Treasury Prime because our companies have strongly aligned values and Treasury Prime offers a personal touch and a true partnership that goes far beyond a traditional vendor/client relationship,” said VP Technology Operations Manager Emily Reisig “They understand our goals of serving fintech clients and give us the ability to do that at scale. Treasury Prime is also the ideal size to be agile as needs change.”
With each new bank partner, Treasury Prime does a deep and thorough integration into all of the bank’s core systems and payments gateways. Treasury Prime then provides an API to make it simple for external clients, like fintech companies or other businesses to embed banking services. With Treasury Prime and Emprise, clients will benefit from direct partnerships with both firms so they can move fast to bring their companies or offerings to market. Treasury Prime is seeing exponential fintech customer growth and is adding a new bank partner every month.
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