Treasury Prime

Treasury Prime is a banking-as-a-service platform with two sides. Banks use it to run their embedded finance programs. Fintechs and software companies use it to put deposit accounts and payments into their own products. On the developer side there are REST APIs, webhooks, a sandbox and a Postman workspace for accounts and payments. Banks use the same platform to see ledger activity in real time, run daily reconciliation, keep audit trails and keep programs separate from each other. Its Partner Marketplace lets a fintech submit one application that can be matched with several partner banks. The site lists more than 20 banks, over 1.1 trillion dollars in bank assets, over 4 million active accounts and more than 170 billion dollars in annualized payment volume. Because the setup is multi-bank, a program can move to another bank in the network if its first bank's risk appetite changes. In February 2024 the company cut about half of its roughly 100 staff. It changed strategy to a bank-direct model, in which banks own the customer relationships and the risk decisions. Pricing is not published, so buyers have to contact sales. Named partners include FIS, Jack Henry and Plaid. The main limitation is the product's narrow scope. It is banking infrastructure, not an accounting product: it has no invoicing, payroll or financial statements. It also only works with US banks, so it suits regulated programs rather than small businesses looking for finance tools.