Priority Announces Strategic Technology Partnership with Treasure Financial
11 Dezembro 2023 - 10:45AM
Business Wire
Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority” or
the “Company”), a leading provider of unified commerce solutions to
businesses that accelerate cash flow and optimize working capital,
has announced a strategic partnership with Treasure Financial Inc.,
a leading financial technology innovator in treasury management
technology.
Priority’s integration with Treasure Financial’s cutting-edge
embedded yield API will enable Priority’s customers to allocate
their excess working capital to an investment account across a
diversified portfolio comprising premiere, secure vehicles such as
Treasuries, Treasury Inflation-Protected Securities (TIPS),
Government-backed money market funds, and professionally managed
fixed-income instruments. This innovative partnership with Treasure
provides Priority’s customers with a truly unified commerce
platform that allows them to manage the point of sale or
receivables payments in their Passport financial account in more
ways. The integration offers Treasure’s higher-yielding investment
capabilities and leverages the modern payables tools of Passport to
optimize working capital on a single platform.
“We are on a mission to change the way businesses, large and
small, think about their payment solution providers by providing
technology and services as revenue accelerators to grow their
businesses and drive efficiency in their operations, and not as
another cost center,” noted Thomas Priore, Chairman and CEO of
Priority.
At a time when operational efficiency and capital management
optimization for businesses of all sizes remains paramount, the
combination of Priority’s payments and banking capabilities and
Treasure’s investment platform are disruptors to traditional
business banking and cash management strategies. Each portfolio is
actively managed by Treasure’s expert in-house investment team.
Advanced algorithms help guide a thoughtful investment approach to
cash management and yield generation.
“The inclusion of Treasure’s capabilities into our unified
commerce engine and treasury service offering brings us to the next
level with cutting-edge cash management solutions,” states Al
Acevedo, Senior Vice President of Treasury Services at Priority.
“We are excited to launch this investment offering into our SMB,
B2B and Enterprise channels so that our 800+ thousand customers may
access a variety of investment and treasury management options from
our trusted partner directly from their Passport account,” added
Acevedo.
“We are proud to partner with Priority to leverage the Treasure
API and embed our corporate-grade cash management offering directly
on the Priority Passport platform. This partnership is a testament
to Treasure’s capabilities and will enable Priority’s customers to
constantly maximize the yield on their idle cash without leaving
the platform. This first-of-its-kind embedded finance partnership
between Treasure and Priority is a huge step forward for the
payments industry,” said Ben Verschuere, Co-Founder and Chief
Investment Officer of Treasure Financial.
ISOs, ISVs, finance professionals, and businesses interested in
learning more about the Treasure and Priority partnership should
contact their Priority representative or visit
PriorityCommerce.com.
About Priority Technology Holdings, Inc.
Priority is a solutions provider in Payments and Banking as a
Service (BaaS) operating at scale with 820K active customers across
its SMB, B2B and Enterprise channels. Priority processes $118B in
annual transaction volume and provides administration for $850M in
average daily deposits. Priority’s purpose-built technology enables
clients to collect, store, borrow and send while providing
customers acceptance of AP payment applications and Passport
financial tools that best optimize their cash flow and maximize
working capital. Additional information can be found at
www.prioritycommerce.com.
About Treasure Financial
Treasure is a leading financial technology company that provides
advanced cash management and embedded investment services via its
proprietary API. With the Treasure API, businesses can seamlessly
embed a complete suite of managed investment and cash management
offerings into their own platforms. Beyond its innovative API,
Treasure also provides a sophisticated cash management platform to
hundreds of businesses to turn their idle cash into secure revenue.
Discover more at treasurefi.com and treasurefi.com/api.
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version on businesswire.com: https://www.businesswire.com/news/home/20231211909554/en/
Jerrice Cuvilly, Jerrice.Cuvilly@prth.com
Priority Technology (NASDAQ:PRTH)
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