Treasury Prime Partners with Marqeta, Bringing Modern Card Issuing to its BaaS Platform
SAN FRANCISCO — February 25, 2021 - Treasury Prime, the leading Banking as a Service (BaaS) company, announced today that it has partnered with Marqeta, the global modern card issuing platform, to bring Marqeta’s modern card issuing capabilities to the Treasury Prime API. For the first time, fintechs and other companies that want to embed banking services, can get access to both banking services and card issuing via a single API. The Treasury Prime-Marqeta partnership is live today with LendingClub Bank, National Association (successor to Radius Bank) and will be live in March with Piermont Bank.
Now that Treasury Prime has integrated Marqeta into its API, its customers can issue, activate, and manage the entire card lifecycle using the same API they use for every other banking service. In addition, Treasury Prime provides program management services including network agreements, BIN management, fraud detection tools, and custom card design, printing, packaging, and shipping services. Developers can test new functionality in the Treasury Prime Developer Sandbox.
“This partnership is a perfect fit because Marqeta and Treasury Prime share a commitment to building modern financial infrastructure,” said Chris Dean, CEO of Treasury Prime. “We’ve seen fintechs face launch delays as a result of working with multiple technology vendors, and when you need to get to market fast, that can be an existential threat. By partnering with industry leaders like Marqeta, we become the one-stop shop for all banking services, and fintechs don’t need to compromise on the breadth or quality of their embedded financial services.”
“Marqeta delivers modern card issuing that empowers innovators to deliver game-changing financial products, and we see Treasury Prime as an important new channel partner, helping us further deepen our position in the modern banking stack,” said Salman Syed, SVP/GM of North America at Marqeta. “Treasury Prime shares our focus on creating great developer experiences, which massively simplify the process of building in banking and card products at scale.”
"Challenger jumped at the opportunity to be the first banking product to build on Treasury Prime and Marqeta at LendingClub Bank,” said Nate Gruendemann, CEO at Challenger, a neobank for employers to sponsor financial services for their employees. “Their reputation and track records gave us confidence to re-platform away from another banking stack. Their modern and scalable infrastructure helps us build faster to meet the growing needs of our users."
Test Marqeta in the Treasury Prime Developer Sandbox
The Treasury Prime API connects fintechs and banks so developers can start building in minutes and launch in days. Developers can test drive the Treasury Prime APIs, including card issuing with Marqeta, by registering for a free Developer Account.
About Treasury Prime
Treasury Prime is the leading Banking as a Service (BaaS) company that connects banks and fintechs through an API so developers can start building in minutes and launch in days. Treasury Prime’s full integration into core banking systems gives developers access to a wide range of banking services from opening accounts to making payments to issuing cards. Treasury Prime is backed by Deciens Capital, Nyca Partners, QED Investors, SaaStr Fund, Susa Ventures, and Y Combinator. For more information, visit www.treasuryprime.com.
Marqeta is the modern card issuing platform empowering builders to bring the most innovative products to the world. Marqeta provides developers advanced infrastructure and tools for building highly configurable payment cards. With its open APIs, the Marqeta platform is designed for businesses who want to easily build tailored payment solutions to create best-in-class experiences and power new modes of money movement. Marqeta is headquartered in Oakland, California. For more information, visit www.marqeta.com, Twitter and LinkedIn.