Frequently Asked Questions

The most common questions fintechs have about BaaS with Treasury Prime.
August 12, 2021
Fintech Frequently Asked Questions

How is Treasury Prime different?

Treasury Prime connects banks and fintech companies through an API to bring in new revenue streams and build customer loyalty. Developers can start building in minutes and launch in days. Treasury Prime is a one-stop banking as a service platform for the technology, compliance, and bank relationship you need to get to market.

Fintech companies choose Treasury Prime because they want:

  • The largest true bank network means you can partner with multiple banks to launch diverse products and execute instant network transfers.
  • Speed to market — you can launch banking products in as little as two weeks.
  • A broad set of services including commercial and retail bank accounts, card issuing, payments, remote deposit capture, KYC and compliance tools, customizable ledger, and real-time account management
  • The best developer experience with an easy to use API, clear, concise documentation, and a developer sandbox
  • Integrations with best-in-class providers Alloy, Marqeta, Middesk, and Plaid 
  • The largest bank network in the industry
  • A direct relationship with their bank and access to multiple bank partner options
  • Usage-based pricing
  • Real-time reconciliation — We do the hard work of integrating with bank cores directly, and this allows us to reconcile transactions with banks as they happen instead of doing a batch settlement like our competitors. This allows you to offer features such as overdraft protection or early access to direct deposit.

Our team is unique because we’ve worked in traditional banks as well as startups. We can support you in your journey because we know bank systems better than anyone and we understand what it takes to build and scale a fintech and embedded finance business.

To get our ultimate guide to offering embedded banking products, download our white paper.

Which banks do you work with?

We currently work with 15+ banks including Bangor Bank, Burling Bank, Pacific Western Bank, Piermont Bank, Grasshopper Bank, and Emprise bank, and we’re adding new banking partners all the time.

Which fintechs do you work with?

We work with leading fintech innovators including Ametros, Brex, First Dollar, Fortress, Guava, Marqeta, Max My Interest, Plaid, Spence, Tuvoli, Wagestream, ZenBusiness, Zeta, and Azibo.

What is Treasury Prime’s relationship with the bank?

Treasury Prime has contracts with each partner bank and this enables us to do a deep technology integration into each bank’s systems. The result is that our fintech customers have access to the breadth of banking services that our bank partners provide. If the bank can do it, you can do it. From a contractual standpoint, the fintech signs a partnership agreement with the bank and Treasury Prime.

What industries do you work with — or do we not serve today?

Treasury Prime’s banking partners are able to work with fintech and enterprise companies in most industries including B2B software, marketplaces, neobanks, investment platforms, healthcare, and cryptocurrency/digital assets. Embedded finance means just about any company can offer banking products on their platform.

Currently, we are not able to find banking partners for the following types of companies:

  • International payments
  • Businesses banking US residents who do not have a social security number or green card 
  • Payday lending
  • Gaming and betting
  • Any business prohibited by OFAC

Do we support international customers?

Generally speaking we are able to support companies that are banking U.S. consumers with social security numbers and/or businesses with a U.S. Tax ID number. We do offer a suite of international features that allow your end customers to send money to international markets and open accounts from anyone, and receive white label cards when living or travelling abroad. the accounts are originated from U.S. based banks.

How does pricing work?

Treasury Prime has usage-based pricing which ensures our incentives are aligned with yours: you only pay when you use the API. This model becomes increasingly more cost effective as you scale.

What percentage of interchange fees do you share? 

We believe that our customers should keep the majority of the interchange fees as part of our revenue sharing model so depending on volume customers can expect to keep 50%-90% of the interchange fees.

What is the process for getting started? 

We’ve mapped out the process that you can expect as you engage with a bank. We know that time to market matters and, with Treasury Prime, you can start development and testing in parallel with the pricing and contract process.

The full fintech partnership process

How does Treasury Prime handle KYC?

Treasury Prime is integrated with Alloy, Middesk, and Sardine so you can use either or both for KYC directly through our API. You can also bring your own KYC solution.  We have launched a 4-point compliance framework to help fintechs build a blueprint to manage risk and fraud.

Does Treasury Prime offer credit and/or debit cards?

Treasury Prime offers interchange-bearing branded debit cards today as part of our core product offering. We offer virtual, physical, and tokenized debit cards, as well as program management services including network agreements, BIN management, fraud detection tools, and custom card design, printing, packaging, and shipping services. Credit cards are on our roadmap for 2022.

Can you customize cards?

Yes! Card graphics and mailer graphics are fully customizable with your logo and branding. We also offer premium card options.

Do you work with Google Pay or Apple Pay?

Yes, we are integrated with Google Pay and Apple Pay.

How does Treasury Prime communicate API changes?

We introduce API changes regularly, largely in the form of new features and updates which don’t impact existing code. These are all covered in our Changelog, which is updated every two weeks. In the rare case that we need to make breaking changes to an existing API, your Customer Service Manager will communicate with you well in advance to coordinate timing, testing, and cutover.

How reliable is your uptime? 

We strive for 100% uptime and there have been no major incidents since we launched. We’re committed to transparency and maintain a status page for real-time reporting and updates.

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