The partnership between Treasury Prime and Academy Bank is aimed at providing embedded finance services to customers in the financial services industry. Here are some key points about this partnership:
- Objective: The primary objective of this partnership is to offer businesses in the financial services sector seamless access to Academy Bank’s deposit services, allowing them to provide FDIC-insured accounts to their customers while ensuring full compliance with regulatory requirements.
- Technology and Infrastructure: Treasury Prime is known for its Banking-as-a-Service (BaaS) platform, which is designed to help businesses quickly launch and scale their payment and deposit products. Academy Bank, on the other hand, brings its established banking infrastructure to the partnership, enhancing the offering.
- Customer Engagement and Retention: The collaboration between the two companies is expected to empower businesses to enhance customer engagement and retention through innovative financial services and products.
- Personalization and Innovation: Academy Bank is recognized for its ability to serve deposit customers in a highly personalized manner and its commitment to innovation, making it a suitable partner for Treasury Prime’s fintech-focused services.
- Bank Network Expansion: Treasury Prime has been successful in rapidly expanding its bank network, with partnerships now exceeding 15 financial institutions across the United States.
- About Treasury Prime: Treasury Prime is a company focused on building the future of finance through its award-winning APIs and embedded banking products. It works with banks and enterprise partners to help them innovate, adapt, and stay competitive in the evolving financial marketplace.
- Awards and Recognitions: Treasury Prime has received industry recognition, including being named the Best Banking-as-a-Service Platform in the Tearsheet Embedded Awards for 2021 and 2022, and being included in CB Insights’ annual Fintech 250 list for 2021.
- About Academy Bank: Academy Bank is a full-service bank with significant assets and multiple branch locations in several states. It provides a wide range of financial solutions for both businesses and individuals, including commercial and business banking, treasury management, and mortgage services. Academy Bank is part of Dickinson Financial Corporation, a substantial holding company.
About Treasury Prime
The partnership between Treasury Prime and Academy Bank is a response to the growing demand for flexible and scalable financial solutions in the industry and represents a collaboration between a fintech company and a traditional bank to deliver innovative financial services.