Did you hear the news? This week, Trovata announced its acquisition of ATOM, the enterprise treasury management system developed by the team at Financial Sciences, led by Alf Newlin. We also extended our Series B with an additional $9 million in strategic investment from PNC Bank and State Street—deepening our partnerships with two of the world’s most respected financial institutions.
It’s a big moment. But it also raises a question:
Why would a company built to disrupt legacy treasury management systems acquire one?
To understand that, you need to know why we started Trovata in the first place.
Building a Better Cash Command Center
Before founding Trovata, our CEO, Brett Turner, spent decades in finance—starting as a CPA at Deloitte, then holding senior finance roles at Amazon, and eventually serving as CFO for multiple high-growth startups.
Along the way, he witnessed a massive shift: the rise of cloud computing, APIs, and modern data infrastructure that transformed how businesses operate.
But one function seemed frozen in time—treasury.
There’s always been a gap between where transactions begin (in ERPs) and where they settle (in banks). As companies scale, managing cash and liquidity grows more complex, forcing finance teams to layer in manual processes or turn to expensive, legacy treasury systems built decades ago. The result? Siloed workflows, delayed decisions, and limited visibility.
Trovata flipped the model. We built the first cloud-native SaaS platform to automate cash management and reporting from the ground up—designed for near real-time data, rapid deployment, and intuitive user experiences.
In partnership with banks like Wells Fargo and JP Morgan Chase, we’ve helped thousands of finance and treasury professionals use real-time bank data to drive smarter decisions and elevate their strategic impact, without the cost and complexity of legacy TMS.
And the results speak for themselves. Since 2016, treasury teams—from global brands like Krispy Kreme to icons like the Dallas Cowboys—have used Trovata as their real-time cash command center.
The Problem Legacy TMS Couldn’t Solve
As our engineering team set out to build Trovata, one thing became clear: before you can automate or even think about using AI, you need clean, structured data.
Most legacy TMS platforms—even those that claim to support APIs—strip out critical metadata. What you get are fragments: dates, amounts, and account numbers. What you lose is context. That missing context blocks automation, limits reporting, and creates fragmented user experiences.
Trovata fixes this at the source.
Our platform ingests near real-time bank data through direct APIs, preserving rich metadata. That data is stored in a cloud-native data lake where it’s parsed, normalized, and enhanced. Our natural language search and tagging systems make it easy to surface, categorize, and act on insights across the platform. The best part? You get full control over your bank data and can route it to other applications like ERPs as needed.
Bank Data That’s Ready for AI
Trovata’s data architecture doesn’t just support AI—it was built for it. With structured, context-rich bank data flowing in through direct APIs, the foundation is already in place for predictive insights, intelligent workflows, and large-scale automation.
From natural language search and intelligent tagging to anomaly detection, forecasting, and AI-powered prompting, machine learning is embedded throughout the platform. This enables smarter workflows and faster decisions, right out of the box.
Recommended: Savvy Treasury Teams Are Getting AI-Ready. Here’s How.
So, Why Acquire a TMS?
Because there’s been a major gap in the market and it’s systemic to how corporate finance and treasury teams need to operate in the future—using AI and becoming increasingly automated.
Trovata already offered the best solution for real-time cash visibility and automated reporting and forecasting that’s built on a next-gen foundation of data and cloud-native tech. But when it came to deeper treasury functions—like in-house banking, intercompany netting, FX hedging, or bank fee analysis—teams still had to rely on legacy systems.
Many of our clients were using Trovata and a traditional TMS to fill the gaps.
That ends now.
By acquiring Financial Sciences and its TMS, ATOM, we’re bringing those large corporate functional requirements into our modern platform.
Hear why the two companies’ founders are so excited about what’s next:
“ATOM was built for complexity and designed to serve Fortune 500 treasury teams with global scale. Combining our comprehensive and battle-tested treasury system with Trovata’s platform architecture and bank distribution model creates a solution that’s both powerful and unmatched.” – Alf Newlin, CEO and Co-founder of Financial Sciences
“There hasn’t been a new TMS built in nearly three decades. We pioneered corporate banking APIs and the only true cloud-native treasury platform in the market with meaningful scale. Now, with ATOM, we have the firepower to compete directly with the legacy incumbents—and replace them. This isn’t just expansion. It’s a generational shift in treasury tech.” – Brett Turner, CEO and Founder, Trovata
Adding Experienced TMS Expertise
Our upmarket TMS expansion phase started in 2022, when we hired longtime corporate treasury expert, Paul Bramwell. After nearly 30 years of working with many of the leading treasury software vendors for some of the world’s most complex corporate treasury environments, the treasury industry was hitting a painful and obvious wall: it needed to modernize.
Legacy TMS providers were aging, stuck in outdated architectures and stagnant roadmaps. While buzzwords like APIs, big data, automation, machine learning, and AI were everywhere, meaningful progress was scarce. Except from a rising tech startup that had begun turning heads in treasury circles: Trovata.
After leaving Kyriba in 2022, the opportunity to join Trovata and lead its move upmarket, challenging legacy TMS incumbents, was too compelling to pass up.
“Trovata is world-class at managing bank data and bank connectivity and its tech platform gives us the opportunity to integrate traditional treasury functionality in a way that will truly transform the industry.” – Paul Bramwell, Enterprise Treasury Lead at Trovata
As we began evaluating options to accelerate our vision, Paul led the charge—guiding an in-depth search and vetting process to find the right TMS partner.
“After looking at many solutions in the TMS space, one platform stood out with deep functional coverage and time-tested client experience: ATOM from Financial Sciences. Decades of supporting complex client requirements meant incredibly comprehensive instrument coverage and workflow management.” – Paul Bramwell
That craftsmanship is a testament to Alf Newlin, the Co-founder and CEO of Financial Sciences. As an engineer and treasury product visionary, Alf spent nearly 40 years building ATOM with an unwavering commitment to building the complexities required by treasury teams at large Fortune 500 companies.
In anticipation of our TMS journey, we also brought Meryeme Bensouda, Senior Director, Payments & Enterprise TMS, and Yussuf Ali, Senior Director of Sales Engineering, onto the team. Both are seasoned treasury and finance professionals with experience delivering complex global implementations and a shared passion for client success.
Together, our TMS experts are driven not to build features, but to solve real-world problems for corporate treasury teams with much greater speed, agility, and precision at scale.
This isn’t about bolting a legacy system onto our stack. It’s about reimagining what a TMS should be—and doing it with people who’ve spent their careers pushing the boundaries of what’s possible in treasury.
A Platform That Adapts to You
With the right people in place, we’re ready to scale upmarket to work with the largest corporate treasury organizations on the planet. Trovata is a platform that scales with you and brings corporate accounting, finance, and treasury together, centralizing cash workflows into one highly intelligent and automated experience.
Legacy TMS demand long, expensive implementations and all-or-nothing deployments. We’ll be taking a different approach.
“The functionality is very broad, very comprehensive, but you don’t have to implement the entire suite. You can activate the pieces that make sense for your operations.” – Paul Bramwell
And when it comes to onboarding, we’re expanding our partner ecosystem so that clients can work with the advisors they already trust.
“Most companies want a helping hand,” says Bramwell. “We’re investing in a flexible partner network so clients can get expert guidance, without being locked into one path.”
Trovata: The Next-Gen TMS Your Team Deserves
Whether you’re a fast-growing company expanding globally or a Fortune 500 navigating complex, multi-entity structures, Trovata delivers the clarity, control, and agility you need—without the compromises of legacy software.
This is what treasury was meant to be: Real-time. Intelligent. Built for the future.
Learn more about the announcement here and make sure to book a personalized demo to see how Trovata can benefit you.
