June 8, 2023 – SAN DIEGO – Trovata, the global leader in bank APIs and cash management, today announced its expansion into the large corporate global treasury market, focusing on end-to-end integrations with enterprise ERP systems. This initiative takes the company into upstream markets by offering a host of new integrated platform services for large corporate customers.
As digital transformation in finance and banking continues to gain momentum, Trovata is expanding its services to meet market demand and provide support for large corporate customers. These new services include automated feeds of corporate multibank balances and transactions; API-based, direct-to-bank bulk payment processing; and automated cash forecasting using open payables and receivables.
“Trovata is bridging the gap between banks and ERP systems,” said Brett Turner, Founder & CEO of Trovata. “Accounting teams need interoperability with their banks to automate journal entries, reconciliation, forecasting, and bulk-payment processing. We’re thrilled to have Tim and Mitch join the Trovata team and bring a much needed set of integrated cash management services to large corporate treasury customers.”
In conjunction with this new offering, the company announced the hiring of Timothy Kane as Head of Global Treasury Sales & Partnerships, Enterprise ERP Vertical. Tim brings to Trovata over 20 years of banking, ERP, and corporate treasury sales experience from Citi, SAP, and, most recently from FinLync. Supporting Tim and also joining from FinLync is Mitch Thomas, Sales Engineering Director, Global Treasury.
“Legacy file-based bank feeds are limited and have changed very little over the past 30+ years. Trovata’s direct-to-bank, API-based integrated services allow companies to truly gain leverage over their cash workflows through automation using APIs, AI, and ML,” said Tim Kane. “We’re excited to drive harmony across the corporate treasury tech stack through our contemporary API integrations and data feeds.”
Trovata is backed by J.P.Morgan, Wells Fargo, and Capital One and has become the fastest-growing treasury platform in the U.S. It manages over $100 billion in cash for hundreds of mid-market & enterprise customers, including GoTo, Eventbrite, and Krispy Kreme. The company is redefining how companies manage their cash, working closely with banks using its own library of corporate banking APIs – the most extensive in the world. Customers use Trovata to visualize cash balances, analyze cash flow trends, forecast liquidity, make payments, and access investments – all through automation from bank and other financial data that it aggregates, stores, and manages.
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.