Since its 2017 founding, Treasury Prime has given fintechs access to its BaaS offering as a way to integrate it with conventional banking services.

CEO Chris Dean writes in a blog post, "But it's becoming more and more obvious to me that bank-direct, fintech partnerships are the way embedded banking is going to be done in the future." "The market is settling on this model, and it’s happening fast."

The company is introducing a new product called Bank-Direct, which will allow banks to support the whole lifecycle of a direct relationship with a fintech customer, including the sales, onboarding, management, and maintenance of that partnership. This move is meant to adapt to the changing landscape.

The change in emphasis coincides with a rising number of banks discreetly stepping up their own fintech business development efforts as they attempt to seal their own fintech acquisitions. Regulators overseeing banking operations are closely examining fintech partner banks, dissolving fintech alliances, and issuing consent decrees concurrently.

According to Dean, Treasury Prime plans to refocus its sales approach and form a new business development team that will offer specialized knowledge to banks looking to acquire significant fintech clients, helping them close those agreements.

"As we sharpen our focus to support banks as they target the largest and most innovative fintechs with the Bank-Direct product, we need to rethink the way we are organized," he states. "As a result, some very talented colleagues will be leaving our firm or redeployed to other parts of our company."