SAN FRANCISCO, CA – March 12, 2024 – Omb Bank has officially become the latest financial institution to join the Treasury Prime Bank Network, marking a significant step in expanding its reach and capabilities in the embedded banking sector. This partnership with Treasury Prime, a leader in embedded banking software, will enable OMB Bank to deliver cutting-edge embedded banking solutions to a wider array of fintech companies and their customers. This strategic move positions OMB Bank at the forefront of banking innovation, solidifying its commitment to adapting and leading in the evolving financial landscape.
“We are excited to welcome OMB Bank to our rapidly growing network of banks,” stated Jeff Nowicki, Chief Banking Officer at Treasury Prime. “The speed and efficiency of OMB Bank’s integration into our network is truly impressive, setting a new benchmark for bank implementations. This swift integration underscores OMB Bank’s dedication to innovation and its readiness to become a major player in the BaaS and embedded banking market for the long term. OMB Bank has demonstrated a thorough and diligent approach, ensuring a robust foundation for their future success in this dynamic space.”
Through this strategic alliance with Treasury Prime, OMB Bank is poised to broaden its service offerings to corporations and fintech firms, thereby accessing a larger customer base. This expanded reach translates into significant advantages for OMB Bank, including new revenue streams and access to cost-effective deposits. Furthermore, the partnership ensures standardized account structures, compliance protocols, and reconciliation processes across all of OMB Bank’s collaborations, streamlining operations and enhancing efficiency.
Steve Bishop, COO at OMB Bank, commented on the seamless integration process and the future benefits of the partnership, “Our integration with Treasury Prime was completed in just eight weeks, and we are now fully prepared to onboard new fintech clients. The speed and smoothness of this implementation have already highlighted the immense value of partnering with Treasury Prime. We anticipate significant enhancements to our service offerings and an expanded reach to fintechs actively seeking embedded banking partners. We firmly believe that embedded banking solutions represent the future of financial innovation, offering improved financial experiences for everyone, and Treasury Prime is clearly leading the way in this transformative evolution.”
This partnership announcement between OMB Bank and Treasury Prime follows closely on the heels of Treasury Prime’s recent strategic alliance between FirstBank and High Circle. Treasury Prime has indicated that further announcements regarding expansions to its bank network are expected in the coming weeks, suggesting continued growth and momentum in the embedded banking space.
About Treasury Prime
Treasury Prime is at the vanguard of financial innovation, building the future of finance through its advanced embedded banking software. The platform expertly facilitates connections between banks and enterprise partners, empowering them to launch innovative financial products while upholding the highest standards of responsible practices. Beyond its core offerings in accounts and payment infrastructure, Treasury Prime provides a comprehensive partner marketplace, featuring a diverse array of ancillary services designed to support the multifaceted needs of bank-fintech partnerships. Recognized for its industry leadership, Treasury Prime was named the Best Banking-as-a-Service Platform in the Tearsheet Embedded Awards in both 2021 and 2022 and was also included in CB Insights’ prestigious Fintech 250 list in 2021.
About OMB Bank
Established in 1999, OMB Bank is dedicated to enhancing the banking experience for families, businesses, and communities. The bank delivers best-in-class services across consumer, commercial, treasury, mortgage, and digital banking sectors. Headquartered in Springfield, Missouri, OMB Bank operates nine branch locations throughout Southwest Missouri and the greater Kansas City metropolitan area, along with a lending center in Springfield. For further details, please visit www.ombbank.com.
