Through its rapidly expanding direct multibank API network, Trovata is improving interoperability for corporate bank balances, transactions, and bulk payments.
With an emphasis on end-to-end connections with commercial ERP systems, Trovata, a leader in bank APIs and cash management, today announced its entry into the major corporate global treasury sector. Through the provision of a wide range of new integrated platform services for large corporate clients, this project expands the company’s reach into upstream markets.
Trovata is growing its offerings to satisfy market demand and help its large corporate clients as the digital transformation of banking and finance picks up speed. These new capabilities include API-based, direct-to-bank bulk payment processing, automated cash forecasting using open payables and receivables, and automated feeds of corporate multibank balances and transactions.
According to Brett Turner, the company’s founder and CEO, “Trovata is bridging the divide between banks and ERP systems. In order to automate journal entries, reconciliation, forecasting, and bulk-payment processing, accounting teams need interoperability with their banks. We are pleased that Tim and Mitch have joined the Trovata team and will provide our major corporate treasury clients with a much-needed set of integrated cash management services.”
The business also disclosed the appointment of Timothy Kane as Head of Global Treasury Sales & Partnerships, Enterprise ERP Vertical, in line with this new product. Tim joins Trovata with more than 20 years of expertise in corporate treasury sales, banking, and ERP from Citi, SAP, and most recently FinLync. Tim is assisted by Mitch Thomas, Sales Engineering Director, Global Treasury, who has also joined from FinLync.
“The limitations of legacy file-based bank feeds, which have been there for more than 30 years, are considerable. Companies may effectively acquire control over their cash workflows through automation using APIs, AI, and ML thanks to Trovata’s integrated, direct-to-bank services”, according to Tim Kane. “We’re thrilled to use our modern API interfaces and data streams to promote harmony throughout the corporate treasury tech stack.”
Trovata is the fastest-growing treasury platform in the United States and is funded by J.P. Morgan, Wells Fargo, and Capital One. For hundreds of mid-market and commercial clients, including GoTo, Eventbrite, and Krispy Kreme, it handles more than $100 billion in cash. Working together with banks and utilizing the largest corporate banking API library in the world, the company is revolutionizing how businesses manage their cash. Trovata’s users can automate the visualization of cash balances, analysis of cash flow trends, forecasting of liquidity, payment processing, and access to investments using bank and other financial data that it collects, maintains, and manages.
Source: PRNewswire
