Financial Technology

Treasury Prime announces acceptance into Jack Henry Vendor Integration Program

By Edlyn Cardoza

Today

  • BaaS
  • Embedded Finance
  • Financial Institutions

Jack Henry, Treasury Prime, BaaS, Jack Henry Vendor Integration Program, Embedded Finance, FinTech, Financial Institutions, FIS, USATreasury Prime, a Banking-as-a-Service (BaaS) company, announced it has been accepted into the Jack Henry Vendor Integration Program. This agreement means that all banks on the Jack Henry core can 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. “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 standardisation level makes adopting Treasury Prime’s BaaS technology easy for all bank clients. Jack Henry bank partners interested in adding Treasury Prime’s BaaS technology can now be onboarded and fully integrated in just a few weeks.

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

“With Treasury Prime and Jack Henry, we are able to unlock critical new revenue streams and deposit opportunities,” said 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.

Recently, IBS Intelligence reported that Merchant’s PACT had announced that MPACT Offers was accessible through Jack Henry’s Banno Digital Platform. Merchant’s PACT leveraged the Banno Digital ToolkitSM, the same set of APIs the Banno Digital Banking Platform built on, to embed their technology into the digital experiences community and regional financial institutions offer.

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