Third Coast Bank Selects Treasury Prime as BaaS Provider for Q3 2022 Launch
Third Coast Bank SSB announced it had selected Treasury Prime as its Banking-as-a-Service provider and strategic partner, with the BaaS platform scheduled to go live in Q3 2022. The partnership allows fintechs and enterprise clients to embed banking services including deposit accounts, payments, and card products through Treasury Prime's developer-friendly API platform, with Third Coast serving as the underlying chartered bank. Third Coast Bank had already secured multiple fintech clients prior to the official launch, demonstrating strong early demand.
Executives from both companies highlighted key benefits including faster time-to-market for fintech partners, access to low-cost deposit funding for the bank, and diversified revenue streams beyond traditional banking. Treasury Prime's platform serves as the technology and connectivity layer between Third Coast and its fintech partners, managing API integrations and compliance tooling. The deal expands Treasury Prime's network of partner banks and gives Third Coast a new growth channel through the BaaS model.
Financial terms of the arrangement were not disclosed.
- Continued expansion of Treasury Prime's sponsor bank network strengthens its competitive position against rivals like Unit, Synapse, and Bond
- Mid-size community banks increasingly view BaaS partnerships as a strategic growth lever for low-cost deposits and fee income diversification