Financial services company Truist Financial has partnered with Trovata, a bank application programming interfaces (APIs) and enterprise cash management firm, to provide clients with automated cash forecasting and liquidity management solutions.
The collaboration will enable Truist’s commercial and corporate customers to benefit from enhanced access to Trovata’s cash management platform. It will help them in modernising cash positioning and forecasting workflows by using data-driven automation.
According to Trovata, the firm’s next generation platform will offer Truist’s clients an entirely new experience in managing cash and liquidity.
Clients can also secure improved visibility and insights into multi-bank account balances and historical cash flows, including projections that help automate cash forecasting.
Besides, customers will be able to utilise Trovata AI, a generative artificial intelligence (AI) app for finance and treasury teams. The app securely uses multi-bank data for managing and analysing cash flows.
Truist wholesale payments head Chris Ward said: “Business owners and finance professionals increasingly demand immediate and integrated insights that enhance their forecasting and financial planning capabilities.
“Providing access to solutions that deliver greater visibility and enable better decision making is one of the many ways Truist serves as a trusted payments partner for our clients.”
Based in the US, Trovata helps businesses in automating cash reporting, forecasting, analysis, and money movement.
The firm is said to offer clients better way to manage cash as a seamless, multi-bank intermediary between their banks and finance stack.
Trovata CEO and founder Brett Turner said: “We’re excited to work with the Truist team to bring the power of multi-bank APIs for balances, transactions, and payments to their clients.
“Real-time insights, automation, and AI are revolutionising the way companies manage cash, liquidity, and operational efficiency.”
Last week, Trovata launched J.P. Morgan Treasury Workstation and J.P. Morgan Multibank Reporting, with J.P. Morgan Payments.
