Pacific Western Bank selected Treasury Prime for API services

APIs are seen as the link between institutions and other players in the payments sector. They provide hassle-free experience and manual processes as companies modernise their cash management and other payments services.

US-based API platform company Treasury Prime has announced that Pacific Western Bank has selected them as its technology partner to modernize its banking infrastructure. Using Treasury Prime, Pacific Western Bank would be able to offer API access to its banking systems as well as a digital platform for its clients such as fintech companies who want to embed banking services onto their applications, the press release said.

Last year, Radius Bank announced that it had launched a Commercial API Banking Platform while Bank of America had launched three APIs (Application Programming Interfaces) which are connected through CashPro and ClearBank partnered with JP Morgan to offer multi-currency accounts via API.

“Treasury Prime has a proven track record of working with banks to automate their back-end processes and the API layer that we build to accelerate and automate internal processes can also be used by fintech clients or other companies that want embedded banking services,” said Chris Dean, co-founder and CEO of Treasury Prime.

Using Treasury Prime’s API services, banks would be able to digitise manual work and improve technology without changing any systems.

Pacific Western Bank is a California based commercial bank with $29 billion in assets and provides community banking products and treasury management services.