Treasury Prime, a U.S.-based API banking platform, announced on Thursday it has teamed up with Marqeta, a fintech unicorn that claims to be the first global modern card issuing platform, to bring Marqeta’s modern card issuing capabilities to the Treasury Prime API.
Treasury Prime reported that now it has integrated Marqeta into its API, its customers may issue, activate, and manage the entire card lifecycle using the same API they use for every other banking service. Treasury Prime is now also providing program management services including network agreements, BIN management, fraud detection tools, and custom card design, printing, packaging, and shipping services.
Speaking about the partnership, Chris Dean, CEO of Treasury Prime, revealed:
“This partnership is a perfect fit because Marqeta and Treasury Prime share a commitment to building modern financial infrastructure. We’ve seen fintechs face launch delays as a result of working with multiple technology vendors, and when you need to get to market fast, that can be an existential threat. By partnering with industry leaders like Marqeta, we become the one-stop shop for all banking services, and fintechs don’t need to compromise on the breadth or quality of their embedded financial services.”
Salman Syed, SVP/GM of North America at Marqeta, then concluded:
“Marqeta delivers modern card issuing that empowers innovators to deliver game-changing financial products, and we see Treasury Prime as an important new channel partner, helping us further deepen our position in the modern banking stack.”
Founded in 2017, Treasury Prime states it builds APIs that allow both banks and their corporate customers to automate their banking operations. The company noted its plan is to modernize the entire banking tech stack and bring the banking industry into the 21st century. It also wants to make it easier than ever before for fintechs to partner with a bank to support their innovative new products and back-office automation.