Trovata launches payments app for direct-to-bank API connections

BofA's Yang: Trovata's connection to CashPro brings payments efficiency

Trovata has added the ability to make transfers and send payments via ACH, wire, and RTP, using direct APIs connections to banks, eliminating the need for a third-party intermediary.

The new Payments App is now live for J.P. Morgan, Wells Fargo, and Bank of America clients through Trovata's web and mobile platform, as well as its API developer portal. The service will be available to all Trovata subscribers and, says the company, will,  'Enable an entirely new end-to-end money movement experience for the banks’ commercial and corporate banking clients.'

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Alex Yang, Director of Connected Banking at Bank of America Global Transaction Services, said, 'CashPro APIs let our clients interact with banking services like never before, but often require significant IT resources or a special system interface to take advantage of our real-time capabilities. Trovata fills this void, to not only help increase US RTP adoption, but also make payment processing more efficient.'

The app allows users to govern the execution of payments so that they adhere to the company’s signature authority matrix, treasury policy, and internal controls.

'Trovata continues to prove that fintech innovation can be about building great user experiences that complement a bank’s core services,' said Trovata Founder and CEO, Brett Turner. 'Bridging the gap as a tech platform to help banks better serve their clients by automating cash workflows is good for everyone.