Treasury Prime Announces Partnership with Sardine to Strengthen Fraud Detection Capabilities for Enterprises and Banks on the Platform
SAN FRANCISCO, June 28, 2023 - Treasury Prime, a leading embedded banking software company, announced today its strategic partnership with Sardine, an all-in-one fraud detection, compliance, and risk management platform. This collaboration will empower companies and financial institutions within Treasury Prime’s multi-bank network to leverage Sardine’s Sponsor Bank Operating System, offering turnkey fraud management and oversee BSA/AML compliance at 3rd parties.
As the embedded banking industry evolves, banks and companies are faced with the challenge of meeting the growing regulatory requirements. Sardine’s integrated approach addresses the growing need and complexity related to third party oversight by offering sponsor banks comprehensive visibility into their programs' fraud and compliance performance at the portfolio level.
“As regulatory scrutiny increases in the financial services industry, companies and banks need effective fraud detection controls. By leveraging Sardine’s expertise, our customers and partners can identify fraud, ensure compliance with regulatory standards, and mitigate operational and reputational risks as their embedded banking programs grow,” said Mark Vermeersch, Chief Platform Officer of Treasury Prime. “The partnership reinforces our commitment to empowering financial institutions and companies with the latest technology and capabilities.”
Sardine's robust suite of tools includes advanced fraud detection, KYC, BSA/AML compliance, and transaction monitoring capabilities. Through this partnership, Treasury Prime customers and bank partners can seamlessly integrate Sardine's services into their programs, providing a turnkey to fraud prevention for sponsored programs and compliance oversight and management through a single dashboard “Sponsor Bank OS.”
“If the last few months have taught us anything it's that enterprises and banks need partners they can trust. This collaboration between Treasury Prime and Sardine takes our shared commitment to trust and confidence from our customers to the next level,” said Ravi Loganathan, Head of Financial Institution Services at Sardine.
This partnership comes on the heels of Treasury Prime’s recent introduction of OneKey Banking, a groundbreaking technology that unlocks the full potential of the industry's largest bank network through instant cross-bank transfers. Earlier this year, Treasury Prime closed a successful $40 million Series C funding round and was honored with Tearsheet's prestigious "Best Banking-as-a-Service Platform" award for 2021 and 2022.
About Treasury Prime
Treasury Prime is building the future of finance. Leveraging its award-winning APIs and versatile embedded banking products, Treasury Prime enables banks and enterprise partners to innovate, adapt, grow and scale to stay competitive in a rapidly changing marketplace. The company helps enterprises with a range of complex services including money transfer, risk mitigation and access to a chartered bank's infrastructure. Treasury Prime works with forward-thinking banks to innovate responsibly and increase access to banking products and services to all segments of the population Treasury Prime was named Best Banking-as-a-Service Platform in the Tearsheet Embedded Awards 2021 and 2022, and was named to CB Insights’ annual 2021 Fintech 250 list.
Sardine offers a Continuous Fraud Intelligence Platform, purpose built to protect businesses and consumers from sophisticated fraud attacks. Using real-time user behavior analysis, advanced AI techniques, and deep fraud expertise, Sardine consistently outperforms the competition in preventing fraud and spots scams before they happen. Our comprehensive API empowers risk teams with a behavior infused all-in-one fraud, compliance, and risk management solution. Led by a team of fraud fighters, and banking industry veterans, Sardine has raised $75M from Andreessen Horowitz Growth, Visa, Experian, XYZ Capital, Google Ventures, and ING Ventures. For more information, please visit www.sardine.ai, and follow us on LinkedIn and Twitter.