Treasury Prime Announces Acceptance into Jack Henry Vendor Integration Program

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Sep 19, 2022, 09:00 ET

Banking-as-a-Service firm can onboard banks in just weeks, quickly and cost-effectively increasing their assets under management

SAN FRANCISCO, Sept. 19, 2022 /PRNewswire/ -- Treasury Prime, a leading Banking-as-a-Service (BaaS) company, today announced it has been accepted into the Jack Henry Vendor Integration Program. This agreement means that all banks on the Jack Henry core are able to adopt Treasury Prime's BaaS technology and immediately offer embedded finance to their fintechs and enterprise clients.

"Acceptance into the Jack Henry Vendor Integration Program is not only a key milestone for us and a validation for all we do at Treasury Prime, but it's an important step for current and future bank partners looking to broaden their business with embedded finance offerings," said Jeff Nowicki, Vice President of Banking at Treasury Prime.

Nowicki added, "BaaS is changing the way banks are able to quickly and cost-effectively increase deposits and fee revenue. For those banks on the Jack Henry core, this has the potential to be a significant growth driver for their business."

Jack Henry's high level of standardization makes adoption of Treasury Prime's BaaS technology easy for all bank clients. Jack Henry bank partners interested in adding Treasury Prime's award-winning BaaS technology can now be onboarded and fully integrated in just a few weeks.

The first financial institution on the Jack Henry core to leverage Treasury Prime's embedded finance offerings is Third Coast Bank SSB. The Texas-based financial institution, with more than $3.36 billion in assets under management as of second quarter 2022, is expanding its client base by delivering embedded finance services to clients in a range of industries.

"With Treasury Prime and Jack Henry, we are able to unlock critical new revenue streams and deposit opportunities," Phil Toscano, SVP and Director of National Sales and Liquidity, Third Coast Bank SSB.

News of joining the Jack Henry Vendor Integration Program comes just a few months after Treasury Prime announced an embedded finance offering partnership with FIS. Similarly, this announcement made it easier for small and mid-size financial institutions to offer enhanced digital banking services.

For more information about Treasury Prime and to learn more about its BaaS network, visit https://www.treasuryprime.com/.

About Treasury Prime

Treasury Prime is building the future of finance. Leveraging its award-winning APIs and versatile Banking as a Service (BaaS) products, Treasury Prime enables fintechs, banks and corporate partners to innovate, adapt, grow and scale to stay competitive in a rapidly changing marketplace. The company helps fintechs 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 extend their boundaries, helping to grow topline revenue and lower the cost of deposits. Treasury Prime was named Best Banking-as-a-Service Platform in the Tearsheet Embedded Awards 2021 and named to CB Insights' annual 2021 Fintech 250 list.

About Third Coast Bank SSB

Founded in 2008 in Humble, Texas, Third Coast Bank, SSB conducts banking operations through 14 branches and one loan production office encompassing the four largest metropolitan areas in Texas in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets. Third Coast Bank SSB a wholly owned subsidiary of Third Coast Bancshares, Inc is publicly traded under the ticker symbol, TCBX, on the NASDAQ Global Select market. Please visit https://www.tcbssb.com for more information.

SOURCE Treasury Prime