Banco Santander has enlisted Trovata to provide cash forecasting and liquidity management for its corporate clients. In a corporate statement, Trovata said that the agreement was for global distribution with Santander. The partnership is expected to see Santander market Trovata’s cash management platform to its corporate & investment banking clients to improve treasury workflows through data-driven automation.
Trovata’s platform offers users a way to digitally transform its cash operating workflows, including greater insights into analyzing historical cash flows, and using artificial intelligence to model out future cash flows in seconds.
Eva Bueno, managing director & global head of cash management for Banco Santander, commented:
“Santander’s commitment to innovation meets our clients’ need to evolve tools and adapt their processes to a changing environment. We are really thrilled to bring to our clients the most advanced technology on the market for cash forecasting and liquidity management. Our purpose at Santander is to help our customers grow with the best solutions available. Trovata aggregates and transforms corporate banking data at scale and that automates much of the cash forecasting process, which will allow our clients to gain efficiency.”
Trovata claims to be the “world’s largest API based aggregation hub” for corporate bank data as the transition to open banking moves forward.
Brett Turner, founder & CEO of Trovata, said they were excited to partner with Santander and expand beyond the US market to Europe and Latin America:
“Cash forecasting with greater visibility, agility, speed, and precision is not only critical, but universal. With data-driven automation, we not only want to make this possible, but available and accessible for every business throughout the world.”