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Key Takeaways from AFP 2024: Paving the Future of Finance Through Innovation

Written by Sergio Garcia
November 4, 2024

We’re a couple of weeks removed from the thrilling atmosphere of AFP 2024. This year’s conference brought together treasury and finance professionals from across the country, converging in Nashville to explore the biggest trends, innovations, and advancements shaping the industry. This year’s conference centered around topics like payments, data management, and the ongoing effort towards digital transformation in finance—key areas where Trovata is helping to drive meaningful change for finance teams. Here’s a look at some of our major takeaways from the conference, including insights from our interactions with attendees and the themes that resonated through our speaking sessions. In this article, we’ll explore key takeaways from AFP 2024 that are shaping the future of finance.


Trovata at AFP 2024

Team Trovata was thrilled to meet with finance professionals, fellow fintech innovators, and bank partners at our booth. These interactions provided valuable insights into the evolving needs of finance teams and how our platform can continue addressing the core challenges they face, from managing cash visibility to advancing forecasting capabilities. 

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We were inspired by the enthusiasm attendees showed in learning how our API-first platform and real-time data capabilities are setting new standards in treasury innovation.

Additionally, Trovata had the opportunity to host two insightful sessions:


1. “Hello API Payments, Goodbye Batch Processing Pains” which drew a packed audience eager to explore the future of payments technology in treasury. Our panel consisted of:

  • Tom Durkin, Global Product Head for GTS CashPro, Bank of America
  • Brett Turner, CEO & Founder, Trovata
  • Kimber Davis, Treasury Manager, Speedcast
  • Mark Auriemma, Director of Treasury, DraftKings
key takeaways from afp 2024

Together, they explored how API payments are transforming treasury operations by eliminating the delays and inefficiencies of traditional batch processing. Some key takeaways from the session include:

  • Batch processing makes reconciliation difficult and increases the risk of transaction failures affecting entire batches. 
  • API payments are particularly beneficial for industries with high transaction volumes, multi-entity operations, or complex supplier networks. 
  • Including real-time payments as a tool in your payments arsenal can mean faster processing, easier reconciliation, and scalability. 
  • The panel discussed a potential future where finance teams are equipped with a centralized payments command center where real-time payments are the norm, enabled by AI for intelligent processing, predictive analytics, and enhanced fraud prevention. 


Attendees of this session left with actionable insights on adopting API payments, from assessing industry fit to building partnerships with experts for successful integration. 

In our Executive Institute session at AFP, we explored an equally exciting topic in Generative AI.


2. “What Does Today’s Treasurer Need to Know About Generative AI?” which attracted a full house of finance executives to delve into the rapidly advancing role of generative AI in the industry. Our panel consisted of:

  • Howard Forman, Executive Vice President – Head of Commercial Digital Channels, PNC
  • Joseph Drambarean, Chief Product Officer as well as CTO at Trovata Jeanne Reese,
  • CFO at Parker University 
  • Bruce Edlund, Group Director and Assistant Treasurer at Cloud Software Group
key takeaways from afp 2024


Together they discussed a number of key themes in the practical application of generative AI in finance, and how to overcome the common barriers to adoption of this evolving technology. 

  • Generative AI is advancing fast, and its deployment in finance is seen as a “renaissance moment,” positioning staff to move beyond repetitive tasks to more insightful analysis and decision-making.
  • The panelists acknowledged concerns about reliability, security, and integration with existing systems. They emphasized the importance of staying updated on advancements in generative AI, as outdated versions can quickly become a liability. 
  • The future of AI’s successful application within finance is dependent on the data sets it leverages to generate insights. The panel explored a future where generative AI integrates capital markets, economic data, market data, and more for comprehensive insights. 
  • Finally, AI’s role won’t be to replace finance practitioners, but to empower them – enabling faster, data-driven insights and supporting leaner teams. 


This forward-thinking session gave attendees a glimpse into the possibilities generative AI holds for the industry and practical strategies for navigating AI adoption.

With so many incredible sessions and engaging conversations with leading experts, every attendee could give you a list of their most memorable moments. For us, the most memorable moments came from hosting live recordings of our podcast, Fintech Corner, at AFP. 

We engaged in entertaining, insightful, and thought-provoking conversations with thought leaders and experts from the world’s leading banks, fintech providers, and finance practitioners. The list of guests included leaders from: 

  • Cloud Software Group
  • RSM
  • KeyBank 
  • State Street
  • and many more!


Recommended: Check out our first episode from AFP with Trovata’s very own Brett Turner and Chris Allen. Together, they dive into technology innovation in finance – all while navigating a gauntlet of increasingly spicy hot sauces complemented by a serving of Nashville’s legendary hot chicken from Hattie B’s.


Key Takeaways From AFP 2024


1. Finance as a Catalyst for Innovation

A recurring theme at this year’s conference was the ongoing evolution of finance roles from a strictly operational function to a hub of innovation. Finance professionals are increasingly viewed as strategic advisors, which means practitioners are increasingly tasked with providing foresight and insights to guide business decisions. At the heart of this is an underlying requirement for finance pros to champion digital transformation initiatives that benefit the entire business. 

key takeaways from afp 2024


2. Finance Needs Faster, Easier Access to Data 

Another key highlight this year was the focus on data accessibility as an essential, foundational step for transforming finance operations. Traditionally, finance functions often rely on batch-processed or outdated data, limiting the ability to respond quickly to market changes. At AFP, discussions underscored how API-driven systems, like those at the heart of Trovata’s platform, can provide up-to-the-minute data flow between banks and fintech systems, giving finance teams the power to monitor and manage cash in real time. API technology has paved the way for unprecedented efficiency, enabling a dynamic, fluid data ecosystem. 


3. Finance Pros as Data Stewards

Finance is currently in a state of building the foundation for truly impactful digital transformation. The missing ingredient is data integrity. While many organizations are investing in automation, AI, and new technology, data is still funneled through disparate, outdated systems. Finance professionals who are capable and equipped to clean up their organization’s data mess will future-proof their skill set. 

This requires practitioners to uphold data integrity across the organization. Trovata’s tagging and categorization features support this responsibility, empowering finance teams to standardize data, enhance accuracy, and support more reliable reporting, forecasting and scenario planning. Data stewardship is essential for creating an environment in which financial data can be trusted as a basis for decision-making. 


4. Corporate Banks and Data Democratization

Corporate banks are working to transform the client experience, making treasury data more accessible and actionable for their clients. From advanced reporting to open API ecosystems, banks are recognizing the need to move beyond siloed, inaccessible systems and empower their clients with real-time insights that enable practitioners to work within their preferred systems.

key takeaways from afp 2024


This shift is invaluable for companies aiming to make agile, data-driven decisions and is a key focus of Trovata’s work in helping finance teams gain seamless access to critical information. Trovata collaborates closely with corporate banks to provide direct connections that empower finance teams with seamless access to their data, creating a connected ecosystem that drives smarter, faster decisions.


5. AI’s Role in Finance Will Continue to Evolve

One of the core insights from AFP 2024 was the rapid evolution of AI within finance and treasury. AI is not only reshaping workflows but also expanding the strategic capabilities of finance teams. While the initial uses of AI in finance focused on process automation and efficiency improvements, the technology is now enabling more advanced tasks.

As discussed in our panel, AI is moving beyond mere data processing; it’s enabling a higher level of decision-making support. This shift is setting the stage for finance teams to adopt what Trovata’s Joseph Drambarean described as a “digital assistant” role for AI—one that empowers treasurers to pivot their focus from transactional work to more strategic analysis. 

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Looking Ahead: Trovata’s Commitment to Innovation

The AFP 2024 conference highlighted the immense value of innovation and technology for finance teams seeking to build resilient, data-driven functions. The various conversations we engaged in while recording Fintech Corner with bankers, financial technology innovators, and their clients emphasized the exciting journey the industry is on to evolve finance and treasury for the 21st century.

From the impact of real-time data through APIs to the importance of data stewardship, this year’s discussions underscored the strategic role of finance in creating value across the organization. At Trovata, we are excited to continue supporting the industry on this journey, equipping finance teams with cutting-edge tools that empower them to evolve their capabilities.

key takeaways from afp 2024


We remain dedicated to delivering the technology needed to not only keep up, but lead the way in the future of finance. We’re grateful for the opportunity to engage with bank partners, fellow fintech innovators, and finance leaders at AFP 2024 and look forward to a future of ongoing innovation and partnership. Subscribe to Fintech Corner so you don’t miss any episodes from AFP 2024!

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