Truist Partners with Trovata to Provide Clients Automated Cash Forecasting & Liquidity Management Solutions

Rhea-AI Summary

Trovata partners with Truist Bank to enhance cash management platform for commercial and corporate clients

Positive

• Truist commercial and corporate clients will benefit from improved access to Trovata's cash management platform
• Clients will gain better visibility and insights into multi-bank account balances and historical cash flows
• Clients will be able to leverage Trovata AI, the first generative AI app for finance and treasury teams

Negative

• None.

SAN DIEGO, Oct. 24, 2023 /PRNewswire/ -- Trovata, the global leader in bank APIs and enterprise cash management, today announced a partnership agreement with Truist Bank (NYSE: TFC). Now, Truist commercial and corporate clients will benefit from improved access to Trovata's cash management platform to modernize cash positioning and forecasting workflows through data-driven automation.

Trovata's next-gen platform will provide Truist clients an entirely new experience to manage cash and liquidity. Clients will gain better visibility and insights into multi-bank account balances and historical cash flows, including powerful projections that help automate cash forecasting. Clients will also be able to leverage Trovata AI, the first generative AI app for finance and treasury teams that securely leverages multi-bank data for managing and analyzing cash flows.

"Business owners and finance professionals increasingly demand immediate and integrated insights that enhance their forecasting and financial planning capabilities," said Chris Ward, head of Wholesale Payments at Truist. "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."

Trovata is the first Fintech to achieve global scale aggregating corporate banking data through APIs with many of the world's largest financial institutions. Trovata gives clients a better way to manage cash as a seamless, multi-bank intermediary between their banks and finance stack.

"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."  said Brett Turner, Founder & CEO of Trovata. "Real-time insights, automation, and AI are revolutionizing the way companies manage cash, liquidity, and operational efficiency."

About Trovata

Trovata makes it easy for businesses to automate cash reporting, forecasting, analysis, and money movement. By bridging the gap between banks and accounting systems, Trovata helps companies gain powerful insights into their cash flows and facilitate better and quicker business decisions. As an end-to-end fintech platform for managing cash, Trovata collaborates with the world's largest financial institutions to deliver next-gen banking services. Trovata is based in San Diego, CA.

To learn more about Trovata, please visit www.trovata.io. | Twitter: @Trovata_io

Media Contact

trovata@inkhouse.com

About Truist—

Truist Financial Corporation (NYSE: TFC) is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $555 billion as of June 30, 2023. Truist Bank, Member FDIC. Learn more at Truist.com.

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SOURCE Trovata

FAQ

What is Trovata's partnership with Truist Bank about?

Trovata has partnered with Truist Bank to enhance the cash management platform for Truist's commercial and corporate clients.

What benefits will Truist clients get from this partnership?

Truist clients will have improved access to Trovata's cash management platform, better visibility and insights into their account balances and cash flows, and the ability to leverage Trovata AI for finance and treasury tasks.

What is Trovata's role in cash management?

Trovata acts as a seamless, multi-bank intermediary between clients' banks and their finance stack, providing real-time insights, automation, and AI for managing cash, liquidity, and operational efficiency.