Trovata, a provider of bank application programming interfaces (APIs) and enterprise cash management solutions, has launched J.P. Morgan Treasury Workstation and J.P. Morgan Multibank Reporting, with J.P. Morgan Payments.
Powered by Trovata, the two new offerings are expected to transform treasury management for J.P. Morgan’s thousands of corporate investment banking (CIB) customers.
The expanded partnership with the company will enable J.P. Morgan to become the first bank to offer its customers real-time data, connectivity, and onboarding across various banks through a single API, said Trovata.
J.P. Morgan Payments corporate development and partnerships global head Jason Tiede said: “Over the last several years, J. P. Morgan has seen incredible value in partnering with and investing in innovative fintechs to bring tech-forward solutions to our clients, and our partnership with Trovata enables us to do just that.”
The new solutions are expected to deliver customers an entirely new experience and level of automation for the office of the chief financial officer (CFO).
Through their J.P. Morgan relationship, corporate clients will be able to use Trovata’s multibank treasury management software via J.P. Morgan Treasury Workstation.
J.P. Morgan Multibank Reporting will improve J.P. Morgan’s current SWIFT based multibank reporting solution by opening up API-based multibank connections. It is anticipated to allow more real-time reporting.
Trovata said that the two offerings have been successfully piloted with clients over the past many years.
Trovata founder and CEO Brett Turner said: “Trovata has the largest library of corporate banking APIs in the world, and more importantly, we’ve successfully normalized multi-bank data into a cohesive standard available through a self-serve, connect-widget.
“That, coupled with our fast-growing platform already serving hundreds of clients and J.P. Morgan’s large corporate client reach globally, is providing a modern alternative to the treasury management space that hasn’t seen innovation in 20+ years.”