Digital Payments News

Trovata and J.P. Morgan Announce New Solutions Suite to Revolutionize Treasury Management

Trovata and J.P. Morgan Announce New Solutions Suite to Revolutionize Treasury Management

Expansion of partnership will create new offerings for Corporate Investment Banking (CIB) customers

Trovata, the global leader in bank APIs and enterprise cash management, announced it has launched two new solutions with J.P. Morgan Payments: J.P. Morgan Treasury Workstation and J.P. Morgan Multibank Reporting, both powered by Trovata.

The two new offerings will revolutionize treasury management for the bank’s thousands of Corporate Investment Banking (CIB) customers. Through its expanded partnership, Trovata is enabling J.P. Morgan to become the first bank to provide its clients with real-time data, connectivity, and onboarding across multiple banks via a single API.

Enterprise companies have many banks and bank accounts that are always in a state of flux, making it challenging to gain visibility, insights and control over managing cash and liquidity. For decades, banks have used legacy systems to exchange financial information and communicate with each other. However, this type of information sharing is slow, adding unnecessary time and stress on lean finance teams. Furthermore, many corporate treasury teams are using legacy software that can often be decades old to manage their treasury operations. As more banks start to develop APIs as part of their digital transformation, Trovata is the only solution to leverage those APIs into a single platform that enables actionable information to become accessible to finance teams at the actual pace of business. This represents a transformative opportunity for banks to offer a next-gen experience to their customers, streamlining multi-bank cash visibility and management.

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“Our partnership with Trovata creates incredible value for our clients, providing real-time access to powerful insights into their cash flows, which enables smarter business decisions,” said Lisa Davis, Global Head of Digital Channels & Connectivity, J.P. Morgan Payments. “Corporate treasury is long overdue for this kind of innovation.”

J.P. Morgan Treasury Workstation and J.P. Morgan Multibank Reporting, both powered by Trovata, provide clients with an entirely new experience and level of automation for the office of the CFO.

  • J.P. Morgan Treasury Workstation will enable corporate clients to access Trovata’s innovative multibank treasury management software through their J.P. Morgan relationship.
  • J.P. Morgan Multibank Reporting will enhance J.P. Morgan’s current SWIFT based multibank reporting solution by opening up API-based multibank connections enabling more real-time reporting.

Both solutions have been successfully piloted with clients over the past several years, and today’s announcement represents a further deepening of the J.P. Morgan and Trovata partnership, which started in 2018 when J.P. Morgan led Trovata’s seed funding round.

“Over the last several years, J. P. Morgan has seen incredible value in partnering with and investing in innovative fintechs to bring tech-forward solutions to our clients, and our partnership with Trovata enables us to do just that,” said Jason Tiede, Global Head of Corporate Development & Partnerships, J.P. Morgan Payments.

“Trovata has the largest library of corporate banking APIs in the world, and more importantly, we’ve successfully normalized multi-bank data into a cohesive standard available through a self-serve, connect-widget,” said Brett Turner, Founder & CEO at Trovata. “That, coupled with our fast-growing platform already serving hundreds of clients and J.P. Morgan’s large corporate client reach globally, is providing a modern alternative to the treasury management space that hasn’t seen innovation in 20+ years.”

J.P. Morgan Payments is a global leader, processing over $9 trillion in payments across 160 countries and 120 currencies on a daily basis. Recently, it was awarded the responsibility of validating all transactions made by the U.S. Treasury Department, the first enterprise collaboration of its kind.

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