Radius Bank has advanced in its relationship with application programming interface (API) firm Treasury Prime with the rollout of its Commercial API Banking Platform and sandbox testing technology, according to a Thursday (Oct. 29) announcement.
“We see a huge opportunity with API Banking to streamline the process of working with businesses, startups and developers who are building applications and businesses that are in search of this type of banking service,” John Relyea, senior vice president of commercial API banking at Radius Bank, said in the announcement.
Radius has grown its Banking-as-a-Service (BaaS) online platform with API Banking by providing corporate customers with state-of-the-art technology to assist in facilitating and streamlining their business banking requirements, according to the announcement.
For its part, the sandbox lets programmers look into Radius’ APIs for their given scenarios and see how those APIs would function in their programs.
“The developer sandbox is game-changing because developers can now understand how our APIs will perform in a live production environment,” Treasury Prime CEO Chris Dean said in the announcement.
The Radius API checking account lets business customers use their own operating systems to handle their banking. They harness APIs for payments and cash management in lieu of signing into a different bank-powered system.
According to the announcement, the product removes the necessity of moving files and repeatedly entering data, as it links banking transactions straight to customers’ business data.
In May, Treasury Prime landed $9 million in a Series A funding round. QED Investors’ Amias Gerety headed up the round, with participation by SaaStr’s Jason Lemkin and NYCA Partners’ Hans Morris.
“We’re thrilled to help banks grow and add more deposits with a new customer base, and to help growing technology companies find homes at institutions that suit their unique needs,” Dean said in an announcement at the time.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
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