Modern Treasury and Metropolitan Commercial Bank Partner to Provide Automated Payment Operations to Entrepreneurial Companies

Rhea-AI Summary

Metropolitan Commercial Bank (NYSE: MCB) has partnered with Modern Treasury to enhance automated payment operations, streamlining the management of money movement. This integration allows clients to track transactions in real-time and reconcile cash across multiple accounts efficiently. Named a leader in digital payments, MCB aims to provide cutting-edge global payment solutions. The partnership promises increased visibility into payments and is expected to benefit entrepreneurial clients across the U.S.

Positive

• Integration with Modern Treasury enhances automated payment operations.
• Real-time transaction tracking improves financial management.
• Greater visibility into payments boosts reconciliation efficiency.
• Partnership aims to deliver advanced global payment solutions.

Negative

• None.

Customers will benefit from a more integrated and seamless experience when initiating, receiving, reconciling, and approving payments

SAN FRANCISCO--(BUSINESS WIRE)-- Modern Treasury, a payments operations software provider, and Metropolitan Commercial Bank, (MCB), a leading bank focused on the most entrepreneurial platforms and marketplaces, today announced a new integration for automated payment operations that simplifies the management of the entire cycle of money movement.

Modern Treasury’s payment operations platform enables companies to make and manage payments via a dashboard or Application Programming Interface (API), track transactions in real time, and automatically reconcile cash across multiple MCB accounts.

“The pace of business is moving faster, and our clients want solutions like Modern Treasury to get a fast and comprehensive view into money movement,” says Nick Rosenberg, Executive Vice President and Head of Global Payments Group at MCB. “We’re pleased to build this partnership as we seek to offer our clients quality global payments solutions on the market.”

Metropolitan Commercial Bank is an established leader in digital payments and is keeping pace with rapid industry evolution and the trend toward digital currency services, mobile payment apps and all that fintech is advancing in the market.

“We are thrilled to partner with Metropolitan Commercial Bank and bring forward new solutions to entrepreneurial clients around the US,” says Dimitri Dadiomov, co-founder and CEO of Modern Treasury.

The addition of Virtual Accounts to Modern Treasury means customers have greater visibility into payments in motion—where they come from and why — which helps streamline the reconciliation of incoming payments. The product adds to Modern Treasury’s ability to enable companies, neobanks, digital wallets, and fintechs to move money with greater confidence.

Ronald Oliveira, CEO of Revolut, a mutual customer, adds, “Revolut is building the world’s first global financial super app and MCB has played an integral role in enabling us to offer robust financial services to our growing customer base. We continuously strive to provide our customers with better financial services and look forward to doing so through MCB and its partnership with Modern Treasury.”

About Modern Treasury

Modern Treasury provides payment operations software for companies, enabling teams to move and track money with confidence. Our tools automate the full cycle of money movement—from payment initiation, through approvals, to reconciliation. Using Modern Treasury products, innovators are reinventing the way businesses are built, run, and scaled. We are a catalyst for growth in the economy's most important sectors, from real estate and healthcare to education and financial services. Founded in 2018, San Francisco-based Modern Treasury is backed by Altimeter Capital, Benchmark, and Y Combinator. For more information, visit https://www.moderntreasury.com/.

About Metropolitan Commercial Bank

Metropolitan Commercial Bank®, The Entrepreneurial Bank, is an established leader in digital payments and one of the fastest-growing U.S. issuers of virtually every type of debit card. Metropolitan Bank Holding Corp. (NYSE: MCB) is the holding company for Metropolitan Commercial Bank. The Bank provides a broad range of business, commercial and personal banking products and services to small and middle-market businesses, public entities and affluent individuals in the New York metropolitan area. Founded in 1999, the Bank is headquartered in New York City and operates six locations in Manhattan, Brooklyn and Great Neck, Long Island. The Bank is also an active issuer of debit cards for third-party debit card programs and provides critical global payments infrastructure to its fintech partners. The Bank is a New York State chartered commercial bank and a Federal Reserve System member bank whose deposits are insured up to applicable limits by the Federal Deposit Insurance Corporation, and an equal opportunity lender. For more information, please visit www.mcbankny.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20211109005421/en/

Chad Torbin

Chad@speakeasystrategies.com

Source: Modern Treasury

FAQ

What is the new partnership between MCB and Modern Treasury about?

MCB has partnered with Modern Treasury to enhance automated payment operations, simplifying the management of the payment cycle.

How does the integration with Modern Treasury benefit MCB clients?

Clients benefit from real-time transaction tracking and improved cash reconciliation across multiple MCB accounts.

What is the significance of the partnership for MCB's business?

The partnership aims to provide cutting-edge global payment solutions, enhancing MCB's digital payments leadership.

What technology will MCB clients have access to through Modern Treasury?

MCB clients will have access to a dashboard and API for managing payments and transactions.