July 25 – SAN DIEGO – Trovata, the leading bank API-powered platform for managing cash & liquidity, announced today an integration with State Street’s Fund Connect. This integration will enable joint clients to access Fund Connect as a third-party investing and trading tool with access to over 25 leading fund managers, from the Trovata platform. Now, finance and corporate treasury teams will be able to determine liquidity needs, then seamlessly invest excess cash with Fund Connect, all in just a few clicks.
Understanding their company’s cash position to invest excess cash has historically been a challenging, disparate process for treasury and finance professionals. Often, they are collecting bank files, aggregating and normalizing data, and building reporting in spreadsheets. This is hours of manual work to gain visibility, all before logging into an investments portal to take action. Trovata digitally transforms the treasury function, leveraging bank APIs, AI, and automation to offer real-time reporting and forecasting. Armed with this intelligence, companies can now take quick action to invest with Fund Connect, all within a single interface.
“Trovata makes it easy to determine with precision, how much cash you need to run your business and how much cash you can invest to earn interest income.” stated Brett Turner, Founder & CEO of Trovata. “Finance and treasury teams need a combined solution that’s quick to stand up, seamless to use, while maintaining full visibility and control. Trovata gives State Street clients a refreshingly modern front end to corporate investing.”
With Fund Connect, finance and treasury teams can gain real-time global portfolio access, enabling comparisons across key factors including fund managers, fund types, and currencies. Fund Connect trading and holdings data will flow into Trovata, consolidating operational and investment oversight in one unified experience.
“The integration of Fund Connect and Trovata will combine expertise in fund management with innovative technology to provide investors with unparalleled insights, seamless connectivity and data to help clients optimize their financial strategies,” said Greg Fortuna, Head of GlobalLink.
Fund Connect is a part of GlobalLink, State Street’s global suite of electronic trading platforms that offer a single interface for managing short-term liquidity through an innovative electronic trading solution. Fund Connect supports multiple money market account structures, including fully disclosed, omnibus, and nominee, all of which can be used in various combinations through a single login.
About Trovata:
Trovata makes it easy for businesses to automate cash reporting, forecasting, analysis, and money movement. By bridging the gap between banks and business systems, Trovata helps companies gain powerful insights into their cash flows and facilitates better, 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.
To learn more about Trovata, please visit www.trovata.io.
About State Street Corporation:
State Street Corporation (NYSE: STT) is one of the world’s leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $44.3 trillion in assets under custody and/or administration and $4.4 trillion* in assets under management as of June 30, 2024, State Street operates globally in more than 100 geographic markets and employs approximately 53,000 worldwide. For more information, visit State Street’s website at www.statestreet.com.
*Assets under management as of June 30, 2024 includes approximately $69 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.
Media Contacts:
Trovata
Rida Khan, rida.khan@trovata.io
State Street
Brendan Paul, bpaul2@statestreet.com