Treasury Prime

“I looked at purchasing them and I back slowly away.”

“The big people have always had multiple banks. It just moved that big number down. So a lot more people have it, right? It used to be like you needed, I don't know, fifty million in deposits, which is for banks small, but for fintech large, you had to have tha…”

“But the funny thing is there's so much of this and the money always sits there for a couple, three weeks. That in aggregate, it's a billion, it's billions of dollars in deposits and that's real money.”

“And the banks always fantasize too, that they can do upsells or cross sells of other services. And generally that doesn't work because they're the end user, the contract from this case, they're loyal to the SaaS. They're not loyal to the bank. They don't even …”

“Treasury Farm's unusual. The banks don't really love us for this either, is that we reconcile 24 hours a day, every hour, and we try really hard to do that.”

“Every single one of our big clients has multiple banks. And if you use your examples, Brex has at least two. These technically I think might have three, but at least two. Mercury's at three. They still have stuff at Evolve, if I remember right. And Chime, ther…”