Embedded Banking software company Treasury Prime has partnered with Footprint , a unified onboarding platform for identity, fraud, and security. This collaboration aims to enhance Treasury Prime's Partner Marketplace by integrating Footprint's Know Your Customer (KYC) and Know Your Business (KYB) technology.

The inclusion of Footprint's services is intended to provide banks and fintech clients with advanced identity verification capabilities. In the company press release, officials from Treasury Prime emphasised the importance of a robust KYC process in fraud prevention and acknowledged the feedback from bank partners, leading to the integration with Footprint. This move aligns with Treasury Prime's commitment to a bank-direct approach and addresses the expressed need for additional onboarding identity solutions.

Footprint's offerings extend beyond KYC technology to include pre-built user interface components and tools for vendor onboarding management. By consolidating onboarding processes into a unified platform, Footprint aims to streamline operations for banks and fintechs while maintaining compliance standards. Officials from Footprint highlighted the significance of effective onboarding in building trust with customers and emphasised the company's role in providing a comprehensive solution.

This integration with Treasury Prime follows Footprint's recent Series A funding announcement, reflecting momentum in the market. The partnership between Treasury Prime and Footprint is part of Treasury Prime's broader strategy to expand its offerings and strengthen its position in the fintech landscape. Earlier collaborations in 2024 include partnerships with Narmi for instant payments and OMB Bank to expand its bank network.

A closer look at the two companies Footprint provides unified KYC, security, and authentication solutions to automate consumer onboarding and minimise identity fraud. Backed by QED and Index Ventures, Footprint's technology integrates behavioural analysis, KYC processes, and data vaulting to enhance identity verification and security measures. Treasury Prime specialises in Embedded Banking software, facilitating seamless connections between banks and enterprise partners.

In addition to core banking services, Treasury Prime offers a partner marketplace with auxiliary services tailored to bank-fintech partnerships. In April 2024, Treasury Prime revealed a strategic partnership with Narmi aiming to allow its customers to send and receive money instantly. The partnership between the two entities aimed to enable banking customers to send and receive money instantly via the FedNow Service, while also integrating the FedNow experience into products.

As part of their partnership, Treasury Prime and Narmi focued on allowing financial institutions in the former’s network to provide their fintech clients with a secure, efficient, and user-friendly platform for real-time payments, thus working towards improving their offerings and increasing revenue. .