- Embedded banking software provider Treasury Prime has partnered with digital banking solutions company Narmi.
- Banks in the Treasury Prime network can provide their BaaS customers with access to a real-time payments platform through Narmi’s FedNow service.
- Under this contract, Narmi will act as a service provider for FedNow.
Embedded banking software provider Treasury Prime today announced a partnership with digital banking solutions company Narmi. The agreement allows Treasury Prime to offer its banking customers the ability to send and receive money through FedNow.
Banks in the Treasury Prime network can offer a real-time payments platform to their BaaS customers through Narmi’s FedNow service. Narmi supports all FedNow services, including receiving funds, linking and transferring funds to external accounts, and Request for Payment (RFP) functionality. By adding real-time payments capabilities to their BaaS capabilities, banks can help their fintech customers remain competitive, drive engagement, and increase revenue streams.
“The combination of Narmi’s FedNow service provider capabilities and Treasury Prime’s embedded banking platform provides a unique and powerful service,” said Mark Vermeersch, Chief Platform Officer at Treasury Prime. “We are excited to work with Narmi to streamline FedNow integrations for our financial institution customers, allowing them to stay at the forefront of real-time payments and fintech services.”
To keep banking simple, Narmi acts as a service provider for FedNow, handling complex tasks such as connecting directly to the Federal Reserve, posting transactions to core banking systems, and facilitating compliance and operational requirements. will handle it.
Founded in 2017, Treasury Prime builds an embedded banking platform to help banks become partner banks. The San Francisco-based company helps banking clients build and deploy a wide range of financial products that integrate with their existing systems, including business bank accounts, payment processing, and lending solutions.
New York-based Narmi was founded in 2016 to provide banks with the digital banking tools they need to increase profitability, deposits and accounts. In addition to the company’s FedNow services, it also offers commercial and retail digital banking tools, digital account opening capabilities, and analytics and management portals.
“Narmi and Treasury Prime share a common vision to better serve the needs of small and mid-sized financial institutions,” said Chris Griffin, Narmi co-founder. “This partnership with Treasury Prime marks a significant leap forward for these banks, opening the door to new revenue streams and enabling them to meet the growing demand for real-time payment solutions in the modern financial environment.”
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