Radius Bank launches commercial API banking platform and developer Sandbox
Digital bank Radius Bank announced the next step in its partnership with API 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 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. 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.” – Senior Vice President of Commercial API Banking, John Relyea.
“Our Radius API Checking Account has enabled us to drive innovation for our customers and quickly scale our business. The APIs allow us to concentrate on building and delivering our unique transportation industry solutions, not on processing routine banking transactions.” – CEO of Relay Payments Inc, Ryan Droege.
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. 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.” – CEO, Treasury Prime, Chris Dean.