San Diego, June 27, 2023 – Trovata, the global leader in bank APIs and cash management, today announced an expanded working relationship with PNC Treasury Management to provide joint customers with integrated payment processing capabilities. The newly enhanced relationship enables PNC’s and Trovata’s business clients to make transfers and send payments via ACH, wire and RTP®, using API integrations, thus eliminating the need for a third-party intermediary.
Powered by Trovata’s new API-based payment experience, the new integration delivers a streamlined, automated end-to-end money movement experience to Trovata subscribers and now, PNC’s commercial and corporate banking clients. With Trovata and PNC’s PINACLE Connect® API integrations, Trovata and PNC clients can govern payment execution according to their unique signature authority matrix, treasury policy and internal controls. Furthermore, the integrated payment experience delivers faster initiation and automated reconciliation, and with RTP®, instant settlement.
“We understand that business’ treasury needs have evolved, which is why we remain committed to making strategic technology investments to address complex business needs and create seamless integrations with our treasury platform,” said Howard Forman, senior vice president and head of Digital Channels for PNC Treasury Management. “Our expanded relationship with Trovata is further proof of this commitment, as this integrated payment experience will support our clients’ desires to increase automation and optimize their payments processes.”
Additionally, PNC and Trovata clients can now automate high-volume batch processing by leveraging Trovata’s multi-bank API platform. With a seamless developer experience, joint customers can utilize a single API to build and manage workflows with multiple banking partners.
“Trovata continues to prove that fintech innovation can be about building great user experiences that complement a bank’s core services,” said Trovata Founder and CEO, Brett Turner. “We’re bridging the gap as a tech platform to help banks, like PNC, better serve their clients by automating payments workflows.”
PNC Treasury Management offers a platform of innovative, end-to-end technologies and experienced teams that help clients architect and implement a cohesive cash management system for their business. In recent years, PNC has launched other embedded banking experiences for its clients through its API developer portal (www.developer.pnc.com) and PINACLE Connect integrations, built on the foundation of its industry-leading commercial and corporate banking platform, PINACLE®. PNC is committed to investing in leading technology and will continue to support its clients as they work to optimize working capital; achieve faster, more secure transactions; and drive their business forward.
Trovata’s new payment experience is accessible through Trovata’s web and mobile platforms, as well as its expanding developer portal. To learn more about Trovata, please visit www.trovata.io or @Trovata_io.
About PNC Bank: PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.
About Trovata: Trovata makes it easy for businesses to automate cash reporting, forecasting, analysis, and money movement. By bridging the gap between banks and accounting systems, Trovata helps companies gain powerful insights into their cash flows and facilitate better and quicker business decisions. As an end-to-end fintech platform for managing cash, Trovata collaborates with the world’s largest financial institutions to deliver next-gen banking services. Trovata is based in San Diego, CA.