Treasury Prime announces Banking-as-a-Service partnership with First Internet Bank

By Edlyn Cardoza

Treasury Prime, a Banking-as-a-Service (BaaS) company, announced a formal agreement with First Internet Bank to make its embedded finance offerings available to more FinTech and small business clients. The partnership continues Treasury Prime’s efforts to build an industry-leading bank network, which now totals 15 financial institutions nationwide.

“We are excited to bring an institution like First Internet Bank into our network as their focus mirrors our own in helping move this market forward. We’ve seen robust growth in our bank network, further indicating market demand for new ways to cost-effectively increase deposits while delivering tremendous value to customers,” said Jeff Nowicki, VP of Banking at Treasury Prime. 

Through Treasury Prime’s cutting-edge API integrations, BaaS tools, and First Internet Bank’s robust infrastructure and compliance programs, tech-forward clients can expand their services and connect with more customers. The BaaS company currently works with industry-leading Neobanks Challenger, which offers an employer-sponsored savings program to help employees save with each paycheck automatically, and Zeta, which offers a joint account to help modern families thrive.

“By working together, First Internet Bank and Treasury Prime can help fintechs and enterprises deliver innovative accounts with debit cards and payments capabilities,” said David Becker, Chairman and Chief Executive Officer at First Internet Bank. “The BaaS landscape continues to evolve, and Treasury Prime has the experience in this space to meet today’s needs and tomorrow’s challenges.”

The First Internet Bank news comes just days after Treasury Prime announced similar relationships with Bangor Savings Bank, FB Financial Corp (FirstBank) and Third Coast Bank. Treasury Prime recently announced a partnership with Bangor Savings Bank to deliver its BaaS offerings to the bank and companies it partners with in the financial services industry. By partnering with the BaaS company, Bangor Savings Bank will be able to work with businesses to allow them to embed financial services into their platforms.