Trovata, the Fintech firm focused on automating cash workflows via multi-bank API data aggregation for corporate finance and treasury teams, recently announced a distribution agreement with Capital One (NYSE: COF).
In connection with the partnership, Capital One will “market and refer Trovata’s cash management platform to new and existing commercial and corporate banking clients,” according to a release.
With Trovata’s platform, Capital One will offer a new cash management experience for its commercial customers, with improved visibility and insights into multi-bank account balances and historical cash flows, “along with powerful projections that help automate cash forecasting.”
Phil Beck, Head of Treasury Management for Capital One, stated:
“Many of our clients are looking for a better, faster and more interactive system of record for managing cash. Trovata is helping us take a major leap forward in providing data-driven workflow automation to support our clients’ digital transformation journeys.”
Trovata is reportedly the first Fintech firm to achieve international scale aggregating corporate banking data via APIs with many of the major financial institutions. Trovata offers customers an improved way to “manage cash as a seamless, multi-bank intermediary between their banks and finance stack.”
Brett Turner, Founder & CEO for Trovata, remarked:
“We’re thrilled to partner with Capital One and bring the Trovata experience to its clients and the treasury teams that serve them. Cash management is all about real-time intelligence and automation. The opportunity to help drive digital transformation for the bank is tremendous.”
As noted in a release, Trovata makes it easy for businesses to “automate cash reporting, forecasting, analysis, and money movement.”
By bridging the gap between banking platforms and accounting systems, Trovata helps companies “gain powerful insights into their cash flows and facilitate better and quicker business decisions.”
As a modern tech 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.”