OneKey Banking was debuted by Treasury Prime, the top embedded banking software platform. With the help of rapid cross-bank transfers, Treasury Prime customers can utilise the full capacity of the largest bank network (15+ financial institutions) in the sector (network transfers).
Network transfers and single-key access to the continually expanding bank network of Treasury Prime are only a couple of the many components that make up OneKey Banking. Even though the individual pieces are strong and innovative, the whole is actually more than the sum of its parts: Treasury Prime’s game-changing technology is unleashed by OneKey Banking, giving businesses access to a complete platform to drive their operations.
As businesses develop, their development can frequently exceed the capabilities of their banking as a service (BaaS) solution. The solution to that issue is Treasury Prime OneKey Banking, which does away with the requirement to switch service providers as a result of deposit growth or feature availability. OneKey Banking is flexible by design, enabling businesses of any size and growth trajectory to seamlessly manage deposits, transfer funds, send instant payments, mitigate risk, scale, and access features via an intuitive interface, doing away with many of the common annoyances encountered throughout the BaaS landscape.
Treasury Prime CEO and co-founder Chris Dean said, “OneKey Banking brings us that much closer to our vision of creating a de facto banking standard for our partner banks. An enterprise can treat its partner banks as a true network using the same tools they would use with any single bank in our network. On our platform, they have access to any account at any bank and can instantaneously transfer money between any account at any other bank.
Chief Platform Officer for Treasury Prime Mark Vermeersch commented, “Fintech companies and businesses may now choose the best banking partner for a certain product or service and rapidly transfer money across banking partners thanks to OneKey Banking’s instant cross-bank transfer service. The Treasury Prime bank network may be viewed as a cohesive entity, allowing banks to concentrate on deals and products that match their risk and business preferences. The network was also developed with technology devoted to upholding the strictest regulatory compliance standards.”
Around $350 million in deposits were made possible by OneKey Banking in its first month across several Treasury Prime network banking partners. The business anticipates that its bank and fintech partners will shift additional deposits worth billions in the upcoming months.
OneKey Banking’s advantages go beyond the business side, providing significant value for banks. With a single, industry-standard API and their embedded clients, OneKey Banking enables banks of all sizes to maximise their innovation channels.
This statement comes just one month after the company revealed the $40 million Series C investment round it had completed. The business has established prestigious commercial ties with companies like FIS, Jack Henry, and Plaid throughout the past year. The company also won several awards from the sector, including “Best Banking-as-a-Service Platform” from Tearsheet for 2021 and 2022.