Treasury Prime, a Banking-as-a-Service (BaaS) company, announced it is partnering with FB Financial Corp (FirstBank) in order to bring embedded finance offerings to its customers.
The partnership with FirstBank brings Treasury Prime’s bank network “to well over a dozen, adding to their rapidly growing available deposit base within the bank network.”
Chris Dean, co-founder and CEO of Treasury Prime, said:
“As a modern banking platform, one of our key differentiators, and something that our customers place a lot of value in, is our network of banks, as it provides fintechs the flexibility they want and the scalability they need. By adding FirstBank, we’ve partnered with a financial institution that meets all the key markers to thrive in our network and deliver for enterprises looking for embedded finance.”
FirstBank is among the first financial institutions “on a Jack Henry core to leverage Treasury Prime’s embedded finance solutions.” The Tennessee-based financial institution “with more than $12.7 billion in assets is expanding its client base by delivering embedded finance to Fintech, Payments and InsureTech.”
Wade Peery, Chief Innovation Officer of FirstBank, remarked:
“Treasury Prime’s technology enables us to enhance what we offer our clients and expand our reach to enterprises looking for embedded finance partners. We think embedded banking solutions, like what Treasury Prime offers, are at the forefront of helping the banking industry be more accessible, inclusive and compliant.”
The FirstBank partnership “comes just months after Treasury Prime announced a similar relationship with Texas-based Third Coast Bank.” The company expects “to make additional announcements related to its bank network in the weeks ahead.”
As noted in the update, Treasury Prime is “building the future of finance.”
Leveraging its APIs and versatile Banking as a Service (BaaS) products, Treasury Prime “enables fintechs, banks and corporate partners to innovate, adapt, grow and scale to stay competitive in a rapidly changing marketplace.”
The company helps fintechs “with a range of complex services including money transfer, risk mitigation and access to a chartered bank’s infrastructure.”
Treasury Prime works “with forward-thinking banks to extend their boundaries, helping to grow topline revenue and lower the cost of deposits.”
