Trovata Launches New Open Banking Payment Experience for Mid-Market & Enterprise Companies

First-of-its-kind Payments App facilitates direct API access to the bank’s payment rails, including Real-Time Payments (RTP)
Trovata
December 2, 2021

San Diego – December 2, 2021 – Trovata, a global leader in automating cash workflows through wholesale, multi-bank API data aggregation, announced today the addition of its new Payments App to its cash management platform. The app allows businesses to make transfers and send payments via ACH, wire, and RTP, using the bank’s APIs directly, eliminating the need for a third-party intermediary.

Trovata’s Payments App is now live for J.P. Morgan, Wells Fargo, and Bank of America clients through its web and mobile platform, as well as its growing API developer portal. The service will be available to all Trovata subscribers and enable an entirely new end-to-end money movement experience for the banks’ commercial and corporate banking clients.

“CashPro APIs let our clients interact with banking services like never before, but often require significant IT resources or a special system interface to take advantage of our real-time capabilities,” said Alex Yang, Director of Connected Banking with Bank of America Global Transaction Services. “Trovata thoughtfully fills this void, to not only help increase US RTP adoption, but also make payment processing more efficient.”

Trovata’s Payments App allows users to govern the execution of payments so that they adhere to the company’s signature authority matrix, treasury policy, and internal controls. Payment templates and workflows for approval, tracking, and logging are easy to create and administer. Trovata simplifies and automates money movement by delivering faster initiation, automated reconciliation, and with RTP, instant settlement.

Trovata also allows corporate IT teams to build on its multi-bank API platform to further automate high volume batch processing. It’s developer experience gives mid-market and enterprise companies a single API to build and manage workflows with multiple banking partners. The company anticipates adding more banks for direct access early next year.

“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. “Bridging the gap as a tech platform to help banks better serve their clients by automating cash workflows is good for everyone.”


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 a next-gen technology platform, Trovata is helping many of the world’s largest financial institutions digitally transform commercial and corporate banking with its growing network of direct API integrations. Trovata is based in San Diego, CA. To learn more visit www.trovata.io