Treasury Prime, a banking-as-a-aervice (BaaS) company, has announced it is partnering with FB Financial Corp (FirstBank) to bring embedded finance offerings to its clients.
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.
“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,” said Chris Dean, co-founder and CEO of Treasury Prime.
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 $12.7billion in assets is expanding its client base by delivering embedded finance to Fintech, Payments and InsureTech.
“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,” said Wade Peery, chief innovation officer of FirstBank.
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.