Treasury Prime, a leading embedded banking software company, has announced its strategic partnership with Liberty Bank, N.A., a full-service commercial bank supporting markets across California. The collaboration will enable Liberty Bank to offer innovative embedded banking solutions to customers in the fintech space.
What are embedded banking solutions?
Embedded banking solutions are digital products and services that integrate banking capabilities into non-banking platforms, such as e-commerce, real estate, or payments. Embedded banking solutions allow businesses to offer seamless and convenient banking experiences to their customers, without requiring them to switch to a different app or website.
Some examples of embedded banking solutions are:
- Deposit accounts that can be opened and managed through a fintech app
- ACH and wire transfers that can be initiated and executed through a business platform
- Savings and investment products that can be accessed and customized through a personal finance app
How will the partnership benefit both parties?
The partnership between Treasury Prime and Liberty Bank will leverage the strengths and expertise of both parties to create new channels for end users to interact and consume financial services. Treasury Prime will provide its cutting-edge technology platform and API integration capabilities, while Liberty Bank will offer its comprehensive suite of financial services and regulatory compliance.
By joining Treasury Prime’s network, Liberty Bank will be able to:
- Drive deposit growth and fee income by attracting new customers and increasing retention
- Offer seamless banking experiences to a diverse customer base, including B2C and B2B payments, e-commerce companies, and real estate professionals
- Capitalize on cutting-edge technologies and innovations in the ever-evolving fintech landscape
By collaborating with Liberty Bank, Treasury Prime will be able to:
- Expand its network of bank partners and offer more choices and flexibility to its enterprise clients
- Enhance its product offerings and features by leveraging Liberty Bank’s financial services and expertise
- Foster innovation responsibly in today’s regulatory climate by working with a trusted and compliant bank partner
What are the goals and vision of the partnership?
The partnership between Treasury Prime and Liberty Bank is founded on the shared vision of delivering innovative and customer-centric embedded banking solutions that meet the evolving needs of businesses and customers. The partnership also aims to foster growth and diversity among businesses, especially those that are traditionally underserved or underrepresented in the financial sector.
Jeff Nowicki, VP of Banking at Treasury Prime, said: “Joining Treasury Prime’s network enables Liberty Bank, N.A. to drive deposit growth and fee income while offering seamless banking experiences to a diverse customer base. This strategic partnership empowers both companies to stay competitive, attract new clients, and capitalize on cutting-edge technologies in the ever-evolving fintech landscape.”
Don M. Griffith, Chairman and CEO of Liberty Bank N.A., said: “We chose to work with Treasury Prime because we recognize the growing demand for innovative financial solutions and the need for banks to enhance their technology offerings to stay ahead in the digital landscape. Embracing these solutions is crucial to meet the evolving needs of businesses and customers and to ensure that we remain at the forefront of the banking industry’s transformation.”
