Treasury Prime, a leading embedded banking software platform, today announced a partnership with Cable, an all-in-one financial crime compliance effectiveness testing platform, to enhance compliance assurance and testing capabilities for Treasury Prime customers.
Through this partnership with Cable, companies and banks working with Treasury Prime can access automated assurance and oversight capabilities in a single platform, allowing them to manage and understand their financial crime program across their entire portfolio.
Cable’s platform offers banks and fintechs real-time assurance about all their financial crime controls, enabling them to know precisely how well they are operating at any time and easily demonstrate the effectiveness of their compliance program to regulators, bank partners and other stakeholders. By leveraging a suite of tools that includes tech-enabled risk assessments, automated assurance, quality assurance, management information, reporting and more, customers using Cable can, with confidence, utilize a powerful, scalable compliance infrastructure supporting faster growth and onboarding. This integration enhances Treasury Prime’s compliance offerings, enabling customers to take advantage of the latest technology to ensure strict adherence to regulatory standards.
“In a year marked by increased regulatory scrutiny as well as compliance burdens on banks and fintechs, innovative compliance technology is more important than ever. Through Cable's automated tools, we can cater to the compliance needs of enterprise clients of any size with increased confidence and efficiency,” said Chris Dean, co-founder and CEO of Treasury Prime.
"Compliance is a top priority for the best BaaS banks and fintechs today. As regulatory pressure increases on the BaaS industry, it is crucial that banks and fintechs invest in the necessary technology and capabilities to ensure their compliance controls and systems work effectively as they scale," stated Natasha Vernier, CEO of Cable. "We are thrilled to collaborate with a company like Treasury Prime that is at the forefront of the evolving embedded banking landscape and understands the critical importance of compliance in this space."
This announcement comes just weeks after Treasury Prime announced the introduction of OneKey Banking – first-of-its-kind technology that enables Treasury Prime customers to unlock the full potential of the industry's largest bank network using instant cross-bank transfers. Earlier in the year, the company also announced the closing of $40 million in Series C funding and was also recently named Tearsheet’s “Best Banking-as-a-Service Platform” for 2021 and 2022.