US-based embedded banking software provider Treasury Prime has announced the addition of Greenlite to the former’s Partner Marketplace.
The collaboration will enable banks within Treasury Prime’s network to enhance their anti-money laundering (AML) and risk management programmes by automating repetitive workflows.
Treasury Prime’s marketplace provides a broad portfolio of auxiliary services designed to address the various requirements of bank-fintech partnerships.
Treasury Prime CEO Chris Dean said: “Our Bank-Direct approach means that banks maintain oversight of their fintech partnerships, including compliance oversight.
“The addition of Greenlite to our partner marketplace empowers banks in our network to scale compliance without simply adding headcount. They also benefit from onboarding embedded fintech partners faster while maintaining high standards of review quality.”
Based in San Francisco, Greenlite helps financial institutions, regulated by the OCC, SEC, and FDIC, streamline customer due diligence and AML operations with a generative artificial intelligence (AI) platform.
The platform enhances risk and compliance teams by integrating intelligent AI workflows to streamline account opening. In addition, it supports financial institutions with onboarding, periodically reviewing, and investigating more business customers with ease.
Greenlite CEO Will Lawrence said: “Over the past few years, we’ve seen a troubling rise in AML-related consent orders, underscoring a critical issue: compliance teams are stretched thin and overwhelmed.
“By partnering with Treasury Prime, we’re able to bring more banks access to AI-driven solutions that will help them automate repetitive workflows like customer due diligence, alert handling and third-party risk management.”
Treasury Prime enables seamless connections between banks and enterprise partners through its advanced embedded banking software. It supports the institutions in launching innovative financial products.
The latest partnership follows Treasury Prime’s addition of Kobalt Labs earlier this year. Kobalt Labs is an AI-driven tool for risk and compliance teams.
With the addition of Kobalt Labs, the banks in Treasury Prime’s network can use Kobalt Labs to better manage their third-party diligence with AI, aimed at improving third-party due diligence.
