Grasshopper and Pocketbook forge alliance to empower SMEs with embedded banking solutions

SME Banking
11/03/2024 News

Grasshopper and Pocketbook have teamed up to support small businesses through embedded banking solutions. Grasshopper, renowned for its client-focused digital banking for the business and innovation sectors, has partnered with Pocketbook, a white-label embedded financial solution for small and medium-sized businesses (SMEs). In collaboration with Treasury Prime, the embedded banking software platform, the partnership aims to provide Pocketbook customers with white-labeled FDIC insured commercial checking accounts.

Lauren McCollom, Grasshopper Bank's Director of Banking-as-a-Service (BaaS), emphasizes the successful collaboration and transparent communication that led to the timely launch of the program. Grasshopper facilitated Pocketbook's customer onboarding in less than 65 days from project kickoff, demonstrating its commitment to operational transparency and effective compliance management.

For Pocketbook, this partnership aligns with its mission to support small business owners by streamlining operations. Bryan Crumpler, Pocketbook's Co-Founder and CEO, highlights the focus on service and efficiency, allowing entrepreneurs to concentrate on business growth.

To ensure smooth integration and operational support, Grasshopper will collaborate with Treasury Prime, providing essential features such as FDIC-insured checking accounts and ACH transactions through API integration with Pocketbook.

Mark Vermeersch, Treasury Prime's Chief Platform Officer, underscores the speed and safety of their bank-direct software, enabling rapid launches and seamless integration with modern embedded banking software.

This partnership underscores the commitment of Grasshopper and Treasury Prime to deliver cutting-edge digital products, particularly in facilitating business payments. Pocketbook's selection as a partner signifies its importance in empowering small businesses to manage finances efficiently under a unified platform.

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