Treasury Prime

Treasury Prime is a San Francisco-based embedded banking software company that provides a modular "Bank OS" and REST APIs allowing banks, credit unions, fintechs and enterprises to build and operate banking programs. Its platform spans embedded banking for fintech and corporate programs, digital banking (account opening, online banking, card and check ordering, mobile deposits), open banking interfaces including FDX-standard data sharing with consent management, and tooling such as a workstation console, virtual subledger, business-intelligence reporting (Prime Analytics) and compliance logging for KYC, Reg CC, AML/BSA and reconciliation requirements.

The company positions its technology as a "side core" that integrates with a bank's existing legacy core rather than replacing it, and supports payment capabilities including card programs, check issuing, book transfers, ACH and wire transfers, real-time payments and deposit sweeps. Treasury Prime operates a bank network — described as 20+ institutions in recent company materials and as 16 banks at the time of its 2023 Series C — plus a partner marketplace of 20+ product partners covering KYC, compliance monitoring, fraud and transaction monitoring and instant account funding. The company emphasizes that banks retain program management and direct relationships with their fintech partners rather than outsourcing them to a technology vendor.

Treasury Prime began by building software tooling that helped banks automate and accelerate routine tasks, and later expanded into giving businesses a way to integrate with banks so they can offer new services, lower deposit costs and generate revenue. It also serves fintechs with money transfer, risk mitigation and access to a chartered bank's infrastructure.

Founding story

Treasury Prime was founded in 2017 by Chris Dean and Jim Brusstar; Dean serves as co-founder and CEO.

Business model

Treasury Prime sells software to banks and credit unions and to fintech/enterprise clients that embed banking services. Banks use the platform to acquire fintech partnerships, deposits and customers beyond their branch footprint, while fintechs integrate once to reach multiple banks in the network. A partner marketplace provides access to third-party product providers.

Traction

Company materials cite more than $10 billion in new deposits at financial institution partners, 2.5 million-plus new active accounts, $90 billion-plus in transactions, roughly $10 billion in daily money movement, and $170 billion in trailing annual money movement volume. At the time of the 2023 Series C, the company reported account growth of more than 450% and revenue growth of nearly 400% since May 2021, with about 100 employees.

Latest developments

Recent announcements include the introduction of Prime Cash, a cash-management offering powered by Green Dot's embedded finance platform enabling cash loading at more than 90,000 retail locations; the launch of an AI Marketplace using intelligent matching for bank-fintech partner onboarding; joining the U.S. Bank Connected Partnership Network; adding i3 Bank and Coastal to the bank network; partnering with People Trust, the first credit union in its network; expanding the network with KeyBank and OMB Bank; the appointment of Travis Champion as Vice President of Revenue; and a blog post noting $170 billion in trailing annual money movement.