Treasury Prime Teams With U.S. Bank on Payments and Treasury
U.S. Bank treasury clients can now access Treasury Prime’s Bank OS platform. It’s available through the bank’s online marketplace of third-party payment and treasury solutions.
According to a Thursday (Oct. 23) press release, Treasury Prime joined the U.S. Bank Connected Partnership Network. This network helps corporate treasury teams identify and integrate technology that is already connected with the bank.
Notably, Treasury Prime’s Bank OS platform offers sophisticated subledger capabilities, as well as artificial intelligence-driven reconciliation tools, according to the release.
In addition, U.S. Bank has joined Treasury Prime’s Bank Network. This network now includes more than 15 financial institutions. It also enables FinTechs and enterprises to connect to multiple banks through a single application programming interface integration, the release said.
“Partnering with U.S. Bank, a trusted leader in treasury and payments innovation, reflects our shared commitment to helping clients modernize their financial operations,” Treasury Prime Chief Banking Officer Jeff Nowicki said in the release. “It also underscores the continued growth of our Bank Network, connecting FinTechs with best-in-class institutions across the country.”
Alberto Casas, head of global product management for U.S. Bank, said in the release that the bank designed its Connected Partnership program to connect clients with embedded solutions. These solutions meet their evolving needs and enhance their control and efficiency.
“By adding Treasury Prime to the Network, we’re giving clients access to tools that simplify back-office operations and accelerate innovation,” Casas said.
U.S. Bank launched its Connected Partnership Network in September 2023. It announced that the marketplace helps clients implement digital transformation in their payment processes. Additionally, it helps third-party solution providers integrate more easily with U.S. Bank on behalf of their mutual clients.
Meanwhile, in February 2024, Treasury Prime announced it was shifting its focus from a banking-as-a-service operating system to a “Bank-Direct” offering that lets banks handle the entirety of their relationships with FinTech clients.
Treasury Prime CEO Chris Dean said at the time, “For years, we’ve been saying that the future of banking is embedded, with regulated institutions and technology firms working closely together to deliver critical financial services within new channels and apps.”
“However, it’s become increasingly clear to me that the future of embedded banking is through bank-direct, FinTech partnerships,” Dean said.
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