The Treasury Prime Partner Marketplace now features FS Vector’s regulatory compliance training platform, Headmaster.
This inclusion is part of a newly formalized partnership between Treasury Prime, an embedded banking software company, and FS Vector, a regulatory advisory firm, the companies announced in a Tuesday (June 18) press release.
“With sponsor banks more focused on compliance than ever, we’re thrilled to officially partner with FS Vector to bring valuable compliance training resources to our network, providing peace of mind for our customers that a reliable consulting firm is ready to step in when needed,” said Kyle Costello, head of partnerships at Treasury Prime, in the release.
FS Vector advises both banks and FinTechs, assisting banks in building, launching, maintaining, and scaling their banking-as-a-service (BaaS) platforms. The firm also offers hands-on support to FinTechs seeking to secure bank partnerships, design and build compliance programs, and acquire and maintain licensing, according to the release.
The Headmaster regulatory compliance training platform from FS Vector offers education, tracking, and regulatory updates for FinTech companies. The platform can distribute content to some or all of a partner’s employees as needed to address changing requirements or new needs.
“Successful BaaS relationships hinge on a shared understanding of and respect for the compliance obligations that a bank and their FinTech program are subject to,” said FS Vector Principal Justin Muscolino in the release. “Our Headmaster platform provides FinTechs with the education that sets these relationships up for success in a cost-effective way.”
In another recent partnership, Treasury Prime announced in May that it teamed up with fraud, identity, and security platform Footprint to provide banks and their FinTech clients with access to Footprint’s know your customer (KYC) and know your business (KYB) technology.
Earlier in January, Treasury Prime partnered with High Circle and FirstBank on a solution combining FDIC insurance, competitive interest rates, and luxury rewards for business owners and high-net-worth individuals.
Additionally, in December 2023, Treasury Prime collaborated with fraud and risk management platform Effectiv to bring advanced fraud detection capabilities to enterprises and banks.
Source: pymnts.com
