Innovative products include high-yield
commercial checking accounts with up to $125M in FDIC insurance and ACH and wire transfer
capabilities
SAN
FRANCISCO, Jan. 16, 2024 /PRNewswire/
-- Treasury Prime, a leading embedded banking software
company, is powering a new strategic partnership
between FirstBank, a Tennessee Corporation, Member FDIC, and
High Circle, a banking and investment platform, designed to
minimize risk and maximize returns for business owners and
high-net-worth individuals whose needs are not being met by large
traditional banks.
As part of this partnership, High Circle is providing a
financial technology platform to provide access to commercial
checking accounts issued by FirstBank and up to $125 million FDIC insurance through the Intrafi
network. These accounts offer High Circle clients up to
$125 million in FDIC-insured
coverage, an attractive annual percentage yield of up to 4.00%, and
ACH and wire transfer capabilities. Furthermore, clients will be
able to access High Circle's rewards program, independent of
FirstBank's involvement, to earn incentives based on deposit
activity, including discounts on private jets, vacation homes,
hotels and resorts, and exclusive events. This blend of FDIC
insurance, competitive interest rates, and luxury rewards allows
clients to manage and grow their overall wealth securely.
In the coming months, High Circle will unveil additional
initiatives in partnership with Treasury Prime and FirstBank,
including personal banking products, allowing customers to secure
their cash reserves within a unified platform.
"Our mission is to transform the financial landscape for
affluent and high-net-worth individuals. By blending traditional
banking, investment solutions, and luxury lifestyle experiences,
High Circle redefines how they engage with their wealth," said
Hemanth Golla, founder and CEO of
High Circle. "Our collaboration with FirstBank and Treasury Prime
is a significant step towards meeting this market need. Together,
we aim to offer tailored, cutting-edge financial services that
cater to the unique needs of high-net-worth individuals and
businesses. We are excited about the opportunities this partnership
brings to redefine excellence in affluent financial
management."
"We are excited to partner with Treasury Prime in offering High
Circle customers a seamless, secure and innovative way to manage
their wealth," said Wade Peery,
Chief Innovations Officer of FirstBank. "By leveraging Treasury
Prime's technology, we can seamlessly embed bank accounts and
provide payment rails within High Circle's platform, all while
improving the end- user experience."
Jeff Nowicki, VP of Banking at
Treasury Prime, added: "Our multi-bank network is reshaping how
fintech collaborations operate, and this partnership is at the
forefront of that transformation.
By seamlessly connecting high-quality banking services from
FirstBank to platforms like High Circle, we're driving innovation
and directly enhancing financial experiences."
For more information about the High Circle Commercial Business
Checking Accounts and FDIC Insurance coverage, please visit
https://www.joinhighcircle.com/.
About High Circle
High Circle is a forward-thinking financial technology company
dedicated to providing innovative financial solutions for
high-net-worth individuals. With a deep commitment to excellence
and a focus on tailored banking, wealth management, and alternative
investment services, High Circle sets the industry standard for
affluent financial management. High Circle leverages cutting-edge
technology and strategic partnerships to empower clients with the
tools and resources they need to maximize their financial
potential. For more information, please
visithttps://www.joinhighcircle.com/.
About Treasury Prime
Treasury Prime is building the future of finance. Through its
cutting-edge embedded banking software, Treasury Prime facilitates
seamless connections between banks and enterprise partners,
equipping them with everything they need to launch innovative
financial products with a strong commitment to responsible
practices. Beyond its core banking offerings, which encompass
accounts and payment infrastructure, Treasury Prime also provides a
robust partner marketplace. This marketplace offers a wide range of
auxiliary services, including access to FDIC insurance through the
Intrafi network, tailored to meet the diverse needs of bank-fintech
partnerships. Treasury Prime was named Best Banking-as-a-Service
Platform in the Tearsheet Embedded Awards 2021 and 2022, and was
named to CB Insights' annual 2021 Fintech 250 list.
About FirstBank
Nashville-based FirstBank, a
wholly owned subsidiary of FB Financial Corporation (NYSE: FBK), is
the third largest Tennessee-headquartered bank, with 83
full-service branches across Tennessee, South Central Kentucky,
Alabama and North Georgia, and a national mortgage
business with offices across the Southeast. The bank serves five of
the major metropolitan markets in Tennessee and, with approximately $12.7 billion in total assets, has the resources
to provide a comprehensive variety of financial services and
products.
Disclosure: High Circle is a financial technology
company, not a bank. Banking services are provided by FirstBank, a
Tennessee Corporation, Member FDIC.
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SOURCE Treasury Prime