Treasury Prime, a leading embedded banking software company, announced its strategic partnership with Footprint, a unified onboarding platform for identity, fraud and security. The addition of Footprint to Treasury Prime’s Partner Marketplace will provide banks and their fintech clients access to Footprint’s world-class Know Your Customer (KYC) and Know Your Business (KYB) technology.
“Banks increasingly recognize that a robust KYC process is vital for fraud prevention, which includes securing the onboarding process through accurate and seamless identity verification,” said Mark Vermeersh, Chief Platform Officer at Treasury Prime. “As Treasury Prime continues to double down on a bank-direct approach, we’re constantly listening to and taking action on feedback from our bank partners. Many banks expressed interest in additional onboarding identity, KYC and KYB options, so we’re proud to deliver on this through our integration with Footprint.”
In addition to the Treasury Prime-Footprint integration, Footprint offers a library of pre-built user interface (UI) components and tooling for banks to manage their vendor onboarding. These tools enable banks and fintechs to launch and scale quickly while maintaining a strong focus on compliance. Instead of needing to in turn integrate onboarding UX directly with fraud and security tools, Footprint does this in a turnkey service.
“Getting the onboarding process right is a vital first step for banks and fintechs to build trust with their customers. But, it is often only accomplished by multiple point solutions. Banks and Fintechs build UX, integrate backend KYC tools and frontend fraud tools. At Footprint, we’re enabling banks to solve their onboarding challenges so they can stop fraudsters, accurately verify identity and ensure data is securely transferred – all in one unified platform,” said Eli Wachs, CEO of Footprint. “On the heels of our Series A funding announcement, this integration with Treasury Prime will bring even more banks and fintechs access to Footprint’s innovative KYC, KYB and other tools that will help them accelerate growth while creating a foundation of trust.”
This collaboration marks the latest in a series of new partnerships for Treasury Prime in 2024. The company recently announced its partnership with Narmi to offer its customers FedNow for instant payments as well as the addition of OMB Bank to its industry-leading bank network.
SOURCE: BusinessWire