Trovata, the global leader in cash management automation and bank data aggregation via APIs in wholesale banking, announced today the availability of its API Bank Connector™ within multiple Sage products via Sage Banking Service in the U.S.
Trovata will connect and manage these feeds to streamline journal entries and bank reconciliation within Sage products using Sage Banking Service, a global platform that integrates with banks and bank aggregators, keeping accounts up to date and reconciled with transactions in customers’ bank accounts. This gives Sage customers, who use a solution such as Sage Intacct, the ability to easily connect to their corporate banking portals – including J.P. Morgan Access, Wells Fargo CEO, and Bank of America CashPro – using Trovata’s cash management platform. They can automate the transfer of daily bank transactions into their accounting system swiftly and accurately.
Unlike bank data aggregation in small business or retail banking, corporate or wholesale banking is much more complex. Trovata has the enterprise-grade connectivity, resiliency, data quality, and security required by accounting, finance, and treasury teams for mid-market and enterprise companies.
Brett Turner, Founder & CEO for Trovata, says: “Trovata is the first fintech to build out an extensive library of direct API integrations with many of the world’s largest financial institutions in commercial and corporate & investment (wholesale) banking. We’re excited to leverage our API bank connections by rolling out automated feeds for accounting and ERP systems. This is an easy win for every accounting team using Sage. It’s like getting a 5G upgrade.”
Chip Mahan, Vice President, Global Commercial Head of Payments & Banking at Sage, adds: “In partnership with Trovata, we are excited to bring API-based corporate bank transactions to our customers. This new fintech partner will provide U.S. corporate bank account information using Sage Banking Service’s API.”
Richard Pawlowski, CFO of Yadav Enterprises and Trovata and Sage customer, says: “We have multiple accounts, across multiple banks and tens of thousands of transactions each month. Reconciling the accounts is a mammoth task. Having Trovata automate our bank data directly into Sage Intacct is a huge timesaver for the team and significantly accelerates our month-end close process.”
Kirsten Coombs, Manager at Rubino & Company, says: “Using Trovata to connect Premier Medical Management to Bank of America CashPro was simple and convenient. I was able to do it on their behalf, directly from within Sage Intacct.”
The service is currently available in the U.S. for corporate bank transactions from the above-mentioned banks, with many more coming soon. API Bank Connector™ is available for customers of several Sage products, including Sage Intacct and Sage Business Management Solutions, Sage 100 and Sage 300.
Trovata makes it easy for businesses to automate cash reporting, forecasting, and analysis. By bridging the gap between banks and accounting systems, Trovata is helping companies gain powerful insights into their cash flows that drive better and quicker business decisions. Today, Trovata is helping companies transform finance and treasury operations using open banking and machine learning. With direct APIs with most major banks, new clients can get set up in a few hours. Trovata is based in San Diego, CA.
Sage is the global market leader for technology that provides small and medium businesses with the visibility, flexibility, and efficiency to manage finances, operations, and people. With our partners, Sage is trusted by millions of customers worldwide to deliver the best cloud technology and support. Our years of experience mean that our colleagues and partners understand how to serve our customers and communities through the good, and more challenging times. We are here to help, with practical advice, solutions, expertise, and insight. Learn more at www.sage.com/en-us/ and www.sageintacct.com.
About Sage Banking Service’s API: https://developer.sage.com/banking-service/