Treasury Prime partners with Bangor Savings Bank to expand network
By Edlyn Cardoza
Treasury Prime, a leading Banking-as-a-Service (BaaS) company, 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 Treasury Prime, Bangor Savings Bank will be able to work with businesses to allow them to embed financial services into their platforms. For the Bank, this translates into expanded revenue opportunities and low-cost deposits. The addition of Bangor Savings Bank brings the total banks in the Treasury Prime bank network to 14, a key differentiator in the crowded BaaS market.
“Bangor Savings Bank’s long-held culture of innovation and deep technical experience makes them an ideal partner. By adding Bangor Savings to our one-of-a-kind network of banks, we’ll be able to help them quickly and cost-effectively support financial service partners,” said Chris Dean, co-founder and CEO of Treasury Prime. “For enterprises, this partnership means even greater flexibility as they look to innovate and scale.”
Bangor Savings Bank is one of the first banks on the Jack Henry core to leverage Treasury Prime’s BaaS offerings. News of this partnership comes just days after Treasury Prime announced similar relationships with another Jack Henry core bank, FB Financial Corp (FirstBank) and Third Coast Bank.
“We are thrilled to be part of the fintech movement and support the innovation and value they provide, while playing a vital part to ensure their success,” said Jamey Doughty, Chief Innovation Officer of Bangor Savings Bank. “Through this relationship the Bank can further support the good work of these financial partners by providing them with banking services to have an even broader community impact through their efforts.”
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