Bank / Credit Union

Trovata intros free cash management platform

December 1, 2022

Trovata, a cash management solutions provider, has introduced a free version of its cash management software. Banks can use the platform to connect to a variety of corporate banking APIs, according to a press release.

The platform offers improved cash visibility, automated transaction tagging and cash forecasting. Trovata built the platform to be bank-agnostic. Banks can connect their first branch for free.

"Square became an early customer of Trovata as the first major treasury innovation in over 20 years. It's directly integrated with all our banks. Our treasury and IT teams have saved a ton of time and money," Tim Murphy, treasurer and head of financial operations at Block, said in the release. "And its vision to democratize best practice for the broader marketing including small businesses, aligns with our company's mission."

"Most banks recognize they aren't tech companies, so they're investing in Trovata," Brett Turner, founder and CEO, Trovata, said in the release. "Digital transformation requires a new tech platform to solve these major pain points. We've entered an era where spreadsheets as a workaround for the limitations of legacy online banking is no longer viable."