Partner program · Banking
You hold the accounts. We know whose every dollar is.
Hold the accounts behind insurance programs and move money between them. Functional Finance builds the connection to your API, works out who owns each dollar and reconciles every statement against its ledger.
Why partner with us
Insurance program deposits
Collected premium for MGAs, carriers, agencies and premium finance companies lands in accounts at your bank.
We build the connection
Functional Finance builds the connection to your API and reconciles every account's statements against its ledger.
Your controls hold
Your cutoffs and limits are set in the agreement, and no flow on the platform bypasses one of your holds.
Who this is for
A chartered bank, or a banking-as-a-service provider backed by one, that holds for-benefit-of (FBO), trust and operating accounts.
FBO accounts where the platform is the accountholder and its clients are the beneficial owners
Trust and operating accounts kept apart
ACH and book transfers, returns, holds and statements
How it works
One premium, end to end: where the money sits and who moves it.
- Step 1: Payment rail to Your bank.
Premium lands
Collected premium arrives in an account at your bank.
- Step 2: Functional Finance.
Owner worked out
By economic owner, not by which account it landed in.
- Step 3: Functional Finance to Your bank.
Book transfers
Between trust, landing and operating accounts.
- Step 4: Your bank to Carriers and agencies.
ACH credit payout
Money owed to carriers, agencies and others.
- Step 5: Your bank to Functional Finance.
Statements
Balances and activity, read on a schedule.
- Step 6: Functional Finance.
Reconcile
Matched to the ledger; unmatched items flagged.
Your engineers start from a ready-made prompt
Once your developer access is approved, each program's interface page gives you a ready-made AI prompt: the contract, every key flow and the events, grounded in our API reference, OpenAPI spec and llms.txt.
Paste it into Claude, Cursor, GitHub Copilot, Codex, Windsurf, Replit or Lovable.
See the full interfaceWho does what
- Accounts
- YouOpen managed accounts; link external ones.
- Functional FinanceDecides which account each dollar belongs in.
- Client onboarding
- YouRun KYB for each client and keep its file.
- Functional FinanceSends each client's details and documents.
- Transfers
- YouExecute ACH and book transfers within your cutoffs.
- Functional FinanceOrders each transfer once; a retry never sends it twice.
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- Returns
- YouReport ACH returns, late ones included, and notifications of change.
- Functional FinanceReverses returned funds explicitly, never netted away silently.
- Holds
- YouApply holds where you need them.
- Functional FinanceHonors them. No flow on the platform bypasses one.
- Statements
- YouProvide balances, activity and statements, BAI2 included.
- Functional FinanceReconciles them against the ledger.
The full interface, for approved developers
Contracts, events, error handling and testing flows are in the developer portal, open to anyone whose developer access is approved.
How to become a partner
Agree
Step 1: Introduction
Your bank or program, account structures and rails.
Step 2: Due diligence
Both sides. You keep KYC documentation for each beneficiary client.
Step 3: Agreement
Account structure, rails, cutoffs, limits, statement format.
Build
Step 4: Sandbox integration
Functional Finance builds the connection to your API.
Step 5: End-to-end testing
Marked ready only once transfers really execute end to end.
Run
Step 6: Go live
Program accounts opened and funds moving at your bank.
Step 7: Operate
Scheduled syncs and reconciliation runs watch every account.
Compliance and operations
FBO structure: the platform is the named accountholder and its clients are the beneficial owners.
Trust and operating funds are held in separate accounts, so programs can follow state trust-account rules.
Only earned and collected commission is swept from trust to operating.
ACH returns are handled as explicit reversals, with their NACHA return codes.
Origination limits and fraud screening are set out in the agreement.
Questions partners ask
No. Functional Finance is not a bank and does not lend. Client funds sit at your bank in accounts held for the benefit of the platform's clients, and the platform keeps the record of who owns what.
It reads your events on a schedule and records each settlement, return and status change against the original transfer.
The return is recorded against the original transfer and reversed explicitly, so the ledger shows exactly what happened.
Talk to us about becoming a banking partner
Tell us about your bank or program and the accounts you offer, and we'll be in touch about fit and next steps.