Truist Bank Collaborates With Trovata to Improve Liquidity Management

Truist Bank announced the beginning of a partnership with Trovata, which is a provider of banking application software interfaces (APIs) and corporate cash management services.

Truist Bank Collaborates With Trovata to Improve Liquidity Management

Within the framework of this cooperation, a financial institution and a firm providing fintech solutions intend to improve cash forecasting and contribute to improving the quality of liquidity management for their consumers belonging to the categories of corporate and commercial clients.

As a result of this partnership, the bank’s customers will be provided with upgraded access to the money management platform developed by Trovata. In this case, consumers will be given the opportunity to modernize cash placement and forecasting workflows through the use of database-based automation tools. The relevant information is contained in the joint press release of the partnership participants, which was published last Tuesday, October 24.

The Trovata platform provides financial institution clients with benefits such as improved visibility and representation of multibank account balances and cash flows. Also, in this case, cash forecasting automation is available to consumers.

Another advantage of the Trovata platform is the ability to use artificial intelligence tools. The press release states that the Trovata AI app, developed for financial departments and the Treasury, engages arrays of information from several banks to improve the quality of management and analysis of cash flows.

Chris Ward, head of wholesale payments at Truist, says that there is currently an increase in consumer demand for immediate and integrated data, which is expanding financial planning capabilities.

As we have reported earlier, U.S. Bank Launches Avvance Installment Payment Tool.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.