San Francisco, CA
Treasury Prime tackles compliance data collection to achieve operational efficiency
Treasury Prime is building technology that improves the economics of banking in order to support the banks and fintechs creating transformative financial services.
As fintechs develop financial offerings to reach new markets, they need a banking partner who can help them with the complexities of money transfer, risk mitigation, and access to a chartered bank’s infrastructure. For banks, these relationships bring new opportunities and channels to grow topline revenue and lower the cost of deposits. Treasury Prime connects fintechs and banks through software that enables developers to quickly and easily embed financial services in their applications.
Treasury Prime understood that, as a vendor to banks, they were expected to be SOC 2 compliant. Financial institutions are obligated to work with vendors that have critical security measures in place, as evidenced by a successful SOC 2.
Treasury Prime sought to meet this requirement, but they didn’t have a team of people dedicated exclusively to ongoing compliance activities. How could Treasury Prime achieve their SOC 2 — and tackle time-consuming compliance data collection — without hiring experts in-house?
Treasury Prime found that using Vanta was faster and cost less than finding and hiring an in-house compliance team. Vanta helped Treasury Prime accelerate its achievement of critical security goals by setting a roadmap of issues to solve right away. The ability to automate compliance processes and to emerge with a clear and actionable checklist was exactly what Treasury Prime needed.
Treasury Prime’s SOC 2 compliance success meant getting all of its rules, procedures, and policies in place, and keeping compliance top-of-mind at all times.
As a company with a large set of checks and activities to perform time and again, Treasury Prime relies on Vanta’s automated compliance monitoring to maintain and ensure ongoing operational consistency with ease.
3 reasons Treasury Prime recommends Vanta: