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Treasury Prime, High Circle & FirstBank partner on checking accounts

By Delisha Fernandes

January 17, 2024

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  • checking accounts
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Treasury Prime, Effectiv, Fraud Detection, Enterprises, Banks, risk management platform, financial institutions, Transaction Monitoring solution, embedded banking, Fintech news, Fintech USA

Treasury Prime, High Circle, and FirstBank have partnered to launch high-yield commercial checking accounts for high-net-worth individuals.

As part of this partnership, High Circle provides a FinTech platform to access commercial checking accounts issued by FirstBank and up to $125 million FDIC insurance through the Intrafi network. These accounts offer High Circle clients up to $125 million in FDIC-insured coverage, an attractive annual percentage yield of up to 4.00%, and ACH and wire transfer capabilities.

Jeff Nowicki, VP of Banking at Treasury Prime, added, “Our multi-bank network is reshaping how fintech collaborations operate, and this partnership is at the forefront of that transformation. By seamlessly connecting high-quality banking services from FirstBank to platforms like High Circle, we’re driving innovation and directly enhancing financial experiences.”

Additionally, clients can participate in High Circle’s rewards programme independently of FirstBank, earning incentives based on deposit activity. These incentives include discounts on private jets, vacation homes, hotels and resorts, and exclusive events. This combination of FDIC insurance, competitive interest rates, and premium rewards enables clients to securely manage and augment their wealth.

“Our mission is to transform the financial landscape for affluent and high-net-worth individuals. By blending traditional banking, investment solutions, and luxury lifestyle experiences, High Circle redefines how they engage with their wealth,” said Hemanth Golla, founder and CEO of High Circle. “Our collaboration with FirstBank and Treasury Prime is a significant step towards meeting this market need. Together, we aim to offer tailored, cutting-edge financial services that cater to the unique needs of high-net-worth individuals and businesses. We are excited about the opportunities this partnership brings to redefine excellence in affluent financial management.”

In the coming months, High Circle will unveil additional initiatives in partnership with Treasury Prime and FirstBank, including personal banking products, allowing customers to secure their cash reserves within a unified platform.

“We are excited to partner with Treasury Prime in offering High Circle customers a seamless, secure and innovative way to manage their wealth,” said Wade Peery, Chief Innovations Officer of FirstBank. “By leveraging Treasury Prime’s technology, we can seamlessly embed bank accounts and provide payment rails within High Circle’s platform, all while improving the end-user experience.”

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