Radius Bank Launches Commercial API Banking Platform and Developer Sandbox

·4-min read

Marks Next Step in the Radius + Treasury Prime Partnership

Radius Bank, a forward-thinking digital bank, announced today the next step in its partnership with API (application programming interface) banking leader Treasury Prime with the launch of their Commercial API Banking Platform and corresponding sandbox testing environment.

With API Banking, Radius has expanded its Banking-as-a-Service (BaaS) digital platform by giving commercial clients leading-edge technology to help facilitate and simplify their corporate banking needs. The sandbox is a critical component because it enables developers to explore Radius’ APIs for their particular use cases and test how the API would work in their application.

"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," said John Relyea, Senior Vice President of Commercial API Banking. "When we started working with Treasury Prime, we realized the number of companies that needed API Banking services and that drove us to create this product. We are excited for the response it’s received thus far and are excited to now launch it to all of our interested current and new clients."

"Our Radius API Checking Account has enabled us to drive innovation for our customers and quickly scale our business," said Ryan Droege, CEO of Relay Payments Inc. "The APIs allow us to concentrate on building and delivering our unique transportation industry solutions, not on processing routine banking transactions."

The Radius API Checking account allows commercial clients to manage their banking from within their own operating system by using APIs to send and receive payments and manage cash, rather than having to log into a separate bank-powered online banking system. Radius API Checking eliminates the need for transferring files and double data entry by tying banking transactions directly to the client’s business data.

"Radius Bank is one of the most forward-thinking banks in the United States," said Chris Dean, CEO, Treasury Prime. "They understand that banking services moving outside of banks presents a great opportunity for their business and, together, we’ve created offerings like API Banking that provide real value to clients. The developer sandbox is game-changing because developers can now understand how our APIs will perform in a live production environment."

Interested in learning more? Contact John Relyea at 216.577.0043, email api@radiusbank.com or create sandbox API keys, access sandbox checking accounts and simulate API transactions in our sandbox environment at radiusbank.com/business/api/.

About Radius Bank

With assets of approximately $1.6 billion, Radius Bank is a forward-thinking digital bank committed to providing a full complement of accounts and services to meet the banking needs of consumers and businesses nationwide. Radius provides the product depth of a national brand, the technology of a fintech, and the personalized attention typically reserved for a local bank to consumers, small and middle market businesses, unions, government entities and non-profit organizations. The Bank’s award-winning digital banking platform allows consumer clients to bank from anywhere with a computer or mobile device and provides convenient features such as check deposit, bill pay, card management, and a personal financial management dashboard. Business clients enjoy a wide array of award-winning deposit products, advanced treasury management services, and loan and payment solutions. In addition, Radius’ suite of open APIs deliver a robust banking-as-a-service (BaaS) platform for fintechs to quickly access core banking features and build best-in-class financial solutions. Radius specializes in partnering with forward-thinking fintechs to provide white-label deposit products, cards, digital onboarding, and account management. Radius Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, visit the Bank’s website at radiusbank.com, or follow the Bank on Twitter, LinkedIn, Facebook, and Instagram.

About Treasury Prime

Treasury Prime is the leading Banking as a Service (BaaS) company that connects banks and fintechs through an API so developers can start building in minutes and launch in days. Treasury Prime’s full integration into core banking systems gives developers access to a wide range of banking services from opening accounts to making payments to issuing cards. Treasury Prime is backed by Deciens Capital, Nyca Partners, QED Investors, SaaStr Fund, Susa Ventures, and Y Combinator. For more information, visit www.treasuryprime.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201029005176/en/

Contacts

John Relyea
216.577.0043
api@radiusbank.com

Kathleen Barrett
617.728.7318
kbarrett@radiusbank.com