ION Treasury has integrated Neterium's Jetflow sanction screening product into its Wallstreet Suite payment factory platform. Wallstreet Suite provides a payment hub for cash movements. The new agreement will mean that all settlements passing through the system are screened using Jetflow as they go through the payments workflow before being sent to the bank. 'Partnerships are key to Neterium’s success,' said Luc Meurant, CEO at Neterium. 'We partner with digital platforms, financial services providers, solutions, and data vendors to add advanced screening capability to their platforms and solutions, enhancing their customers’ experience. ' Crowd Data Systems, co-founded in 2016 by Kelly Scammell and Steve Whalley, has raised its first €1m in a seed round led by Triple Point Ventures and Portfolio Ventures. The treasury technology company targets mid-sized corporations with a cloud-based system that connects across banks, finance systems, dealing platforms and industry reference data. It now counts more than 90 businesses as clients, operating across 32 different countries. They include Flight Centre, TI Fluid Systems; and New Zealand-based treasury outsourcing company ETOS. Scamell said the team were, 'Excited to embark on the next stage of our journey. Historically, the treasury systems market has been focused on larger companies but now outdated legacy technology and a lack of innovation are limiting its potential. CDS is revolutionising the industry to remove technical complexity which will enable us to bring the benefits of modern treasury apps to a wider global market facing similar issues.' Deutsche Bank is partnering with FinLync, using its pre-built API integrations and SAP-embedded treasury applications to allow corporate clients to connect to Deutsche Bank’s API offerings. FinLync’s product suite includes apps for cash visbility, real-time payment tracking, beneficiary account pre-validation and automated reconciliation. 'Our integration with FinLync makes it much easier for corporates to adopt our banking APIs and shortcut the road to automated, real-time treasury,” said Kerstin Montiegel, global head client connectivity / digital client access channels at Deutsche Bank. Phillip Klein, co-founder and CEO of FinLync, said the company was, 'Excited to join forces with Deutsche Bank’s renowned Corporate API Program. Corporate finance teams have long sought the ability to access all their available bank data and deliver it directly into their existing systems.' Kyriba has developed a new API connector with ICD (Institutional Cash Distributors), the portal provider for money market products. The integration allows treasury teams to research, trade, analyse, and report on investments, and sweep excess bank balances into money market funds to ICD from their Kyriba Dashboard. Felix Grevy, head of connectivity and open APIs at Kyriba, described the ICD link as, 'Part of a larger effort to ensure our clients have the best opportunity to improve returns on their excess cash.' Sebastian Ramos, EVP, global trading and products at ICD, added, 'With single sign-on and deep integration with Kyriba, our joint clients limit risk and add efficiencies to their cash and liquidity management processes.' Earlier this year, Kyriba opened its application platform to developers wand has since expanded the developer portal with new self-service applications and an App Marketplace. SEB is partnering with TreasurUp to offer its automated foreign exchange hedging module to its commercial banking clients. SEB and TreasurUp will also work jointly on integrating the platform with the bank’s clients’ ERPs, enabling full automation of FX risk hedging. ‘The market for automated hedging services offered by banks is relatively new and SEB wants to be at the forefront of that,’, said James Prasad, head of FX business development at SEB. TreasurUp CEO Niels van Daatselaar, added, ‘TreasurUp is delighted with SEB as a new partner. SEB is a very innovative, open, and professional bank which is a great starting point for joint innovation.’ Nomentia has signed a strategic partnership deal with AP Automation and spend management platform Medius. The agreement will add bank connectivity to the platform, especially important for Medius’s Nordic customers as they aim to take advantage of developments such as the P27 initiative, which will establish a single pan-Nordic payment infrastructure for the region’s 27 million citizens. Jukka Sallinen, CEO at Nomentia, said, ‘The partnership with Medius unites AP automation and payments with our extensive bank connectivity. I look forward to working with Medius, whose expertise in AP automation and spend complement our own in global cash and treasury management.’ GTreasury is launching an Innovation Lab, expanding on its twice-annual hackathons to explore future treasury technology. Each member of GTreasury’s technology team will have a dedicated cycle within the lab, Early wins for the new approach are likely to focus on applications of Machine Learning and Artificial Intelligence, with product ideas around BI reporting, risk analysis modules, and a module offering more automated and accurate reconciliation between forecasted and actual treasury payments. Developers at the lab will turn initial ideas into working proof of concepts. Lab members will vote to select the solutions with the most potential, after which ideas are presented to internal stakeholders and customer representatives. Validated solutions will then move to a production development team to be fully built and integrated into the GTreasury platform. Ciarán O'Neill, Director – Innovation Lab, GTreasury, said the launch would, 'Accelerate our pursuit of the innovations that it takes to develop and deliver powerful and compelling technological advances to our customers.' Cobase has launched its first app on Oracle's NetSuite ERP platform. Cobase Bank Connector connects with more than 15,000 banks, removingthe manual processes of uploading payment files and reporting statements. NetSuite users can automatically transfer payment and direct debit (batches) in a secure way to Cobase and have them transferred to all their banks. Bank statements are automatically downloaded from the banks and delivered in NetSuite, ready to be picked up for reconciliation. Oracle has launched a cash forecasting module for its NetSuite ERP. Oracle says Cash 360 offers customers a real-time view of their cash position and the ability to generate near-term forecasts. Cash 360 also offers a configurable dashboard that can include links to key cash management activities such as current cash balance, accounts payable and accounts receivable balances, cash flow trends, and a rolling six-month cash flow forecast. “Insufficient cash flow is the main reason new businesses fail in the first five years, but despite it being such a critical area, many businesses struggle with cash management due to poor visibility and an inability to accurately forecast,” said Gary Wiessinger, SVP of product management, Oracle NetSuite. “NetSuite Cash 360 turns a complex process into a simple one by giving customers everything they need to effectively manage cash flow to help ensure they have the cash reserves to maintain day-to-day operations, pay employees and suppliers, fund sales and marketing efforts, service debt, acquire capital equipment, and make other long-term investments.” Trovata has signed a distribution deal with US bank Capital One. Under the agreement, Capital One will market and refer Trovata’s cash management platform to new and existing commercial and corporate banking clients. Capital One Ventures is an investor in Trovata, alongside Wells Fargo and JPMorgan. |
Treasury Technology news from the experts at Treasury Dragons.
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