Treasury Prime partners with Marqeta to bring modern card issuing to its BaaS platform
By Pavithra R
California-based Treasury Prime, a provider of API platform for banks and FinTechs, has announced partnering with Marqeta, the global payment processing and cash issuing platform provider, to bring Marqeta’s modern card issuing capabilities to its Prime API.
Under the partnership, fintechs and other companies wanting to embed banking services can access both banking services and card issuing via a single API. The collaboration is live with LendingClub Bank, National Association and will be live in March with Piermont Bank.
“This partnership is a perfect fit because Marqeta and Treasury Prime share a commitment to building modern financial infrastructure. We’ve seen fintechs face launch delays as a result of working with multiple technology vendors, and when you need to get to market fast, that can be an existential threat. By partnering with industry leaders like Marqeta, we become the one-stop-shop for all banking services, and fintechs don’t need to compromise on the breadth or quality of their embedded financial services,” said Chris Dean, CEO of Treasury Prime.
With the integration of Marqeta into Treasury Prime’s API, customers can issue, activate, and manage the entire card lifecycle using the same API they use for all other banking service. Additionally, Treasury Prime provides program management services, including network agreements, fraud detection tools, BIN management, and custom card design, printing, packaging, and shipping services.
“Marqeta delivers modern card issuing that empowers innovators to deliver game-changing financial products, and we see Treasury Prime as an important new channel partner, helping us further deepen our position in the modern banking stack. Treasury Prime shares our focus on creating great developer experiences, which massively simplify the process of building in banking and card products at scale,” said Salman Syed, SVP/GM of North America at Marqeta.
Founded in 2017 by Chris Dean and Jim Brusstar, Treasury Prime is built with the mission to modernize the entire banking tech stack. The FinTech offers APIs that let both banks and their corporate customers automate their banking operations.
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