New in May: Bill Pay at FIS Banks, Auto Monthly Statements, Enhanced Ledger Controls, and More
It’s been an exciting few months here at Treasury Prime with the announcement of our strategic partnership with FIS and expanded capabilities now available to FIS partner banks. Some other highlights include improved account controls for fintechs, enterprise companies, and banks, and updates to improve the end-user experience.
Highlights include FIS Bill Pay at Grasshopper Bank, support for automated statements, enhanced Treasury Prime ledger controls, a production developer dashboard, our Postman Collection, and a bank console redesign for our bank partners.
Let’s dive in!
Bill Pay at FIS Banks
Fintech and enterprise companies that partner with Grasshopper Bank can now take advantage of Treasury Prime’s API to launch a fully-integrated bill pay experience. Bill pay enables a one-time or recurring bill payment from an end-user to a merchant. Typically, bill pay is used to help end-users manage bill payments to multiple companies all in one place, saving time and avoiding late fees. The capability can also be made available at other FIS partner banks.
Automated Monthly Statement Generation
Our new statement endpoint allows fintech and enterprise companies using a ledger setup to generate automatic monthly statements. This feature was previously only available to select on-core customers at Radius Bank. When hitting the endpoint, you’re able to retrieve an auto-generated pdf statement. This statement includes:
- User account number / physical address
- Beginning/ending balance for the month selected
- Transactions for applicable month (this does not include holds)
- Fintech support contact information
- Statement start / end date
- Self-service feature to allow fintechs to set up feature independently
- Customization, such as start / end date and transaction type
Treasury Prime has the largest bank network in the industry, giving you the most flexibility and affordability at scale. If you want to be the next unicorn, you need a direct bank relationship and the best Baas company. To learn more about how to offer embedded banking products, download our white paper. To discuss how we can help your company scale, contact us.
Ledger Account Controls
Now you can lock and unlock ledger accounts through the API. Whether there’s potential fraudulent activity or other issues, there may become a need to lock an account and block certain activity while an investigation or remediation takes place. Locking an account via a PATCH call to the /accounts endpoint provides an effective and compliant way to do so. Before locking an account via our API we recommend building out an account lock remediation plan in collaboration with your banking partner and Treasury Prime.
Did you know? Treasury Prime offers a compliance solution with partners Alloy and Unit21 to offer fintechs the ability to better control their own compliance strategy.
Production Developer Dashboard
Fintech and enterprise companies can now take advantage of our Production Developer Dashboard to take greater control over their accounts with improved security. Admins can create new API keys or disable and delete existing keys directly on the Keys page of the dashboard, making it easier to cycle API keys or to create different keys for different operations. Additionally, users now have the ability to view account and ACH details. Lastly, the launch of our Production Developer Dashboard brings multi-factor authentication to the platform to further enhance security, requiring users to verify their identity using secondary authentication methods.
Easier Ways to Test Our API
We’re making it easier than ever to test our API with collections of pre-written API calls and GUIs on Postman. Postman is a visual editing tool for building and testing API requests without configuring a full development environment. You can find additional information in our developer docs.
Bank Console Redesign
Our redesigned Bank Console was rolled out to enable our banking partners to have a real-time view into their customers’ API activity. The new console focuses on controls to keep banks in control of the banking activities happening through the API, such as:
- Managing permissions of developers
- Reviewing account applications
- Assessing and canceling fraudulent ACH