Tipalti has acquired treasury technology platform Statement, aiming to add treasury to its comprehensive suite of finance automation solutions designed for mid-market businesses across accounts payable, global payouts, procurement, employee expenses, corporate cards, supplier management and tax compliance.

Transforming Treasury with AI

"I am excited to welcome Statement to the global Tipalti team and to accelerate our treasury capabilities with powerful AI innovation for finance teams around the world," said Chen Amit, CEO and Co-founder of Tipalti.

"For many global businesses in today's economy, getting complete and instant cash flow visibility across bank accounts, systems, entities, and currencies is very complex. Together, we have a unique opportunity to evolve our customers' treasury operations into a key business driver, empowering them to take control of their cash flow and maintain real-time visibility of their business finances. This addition to our finance automation suite furthers our mission to elevate how finance teams operate in the global economy."

"We are thrilled to join a global leader like Tipalti. We have a shared vision for transforming finance operations so our customers can focus on their business," said Idan Vlodinger, CEO and Co-founder at Statement.

​"Innovating in treasury with AI-driven automation has been our sole focus since day one. Our AI-native solution complements the Tipalti suite with capabilities to help businesses manage cash with ease. With Tipalti's global scale, we will be able to help more customers streamline complex cash management processes, optimize liquidity, and forecast cash flow with more confidence."

Finnish fintech company FinanceKey has raised €3 million in a seed funding round to scale its client base, expand into new markets, and accelerate the shift to fully automated enterprise treasury systems. The round was led by Maki.vc, a Helsinki-based early-stage venture capital firm, with participation from existing investor First Fellow Partners.

FinanceKey offers a single, streamlined platform that connects banking, ERP, and treasury systems, standardises financial data, and automates payment processes.

The company was founded by former Nokia treasury leaders Veikko Koski, Macer Skeels, Tiago Batista, and Rony Meyer (above), and the system is already in use by clients including Nors, Bravedo, and Obton.

The new funding will power FinanceKey’s product development, team growth, and expansion across Europe, while accelerating FinanceKey’s mission to transform the global treasury infrastructure, says FinanceKey.

“We’ve seen firsthand how disconnected systems and repetitive manual workflows slow finance teams down; they deserve better tools – ones that unify fragmented data, automate workflows, and free them to focus on strategic decisions. This funding lets us scale a platform already driving results for top-tier enterprise clients,” said Veikko Koski, CEO of FinanceKey. 

“The team at FinanceKey has deep expertise and has created a product that solves a clear, urgent need in the market,” said Tim Bolte, Venture Partner at Maki.vc. “The traction they’ve achieved with large enterprises speaks volumes, and this is just the beginning.” ​

A select group of senior corporate treasurers gathered at The Savoy Hotel for a private round table lunch hosted by Treasury Dragons and sponsored by Bottomline. Representing a broad range of sectors, the participants shared a common set of challenges—managing complexity, embracing innovation, and striving for greater visibility and control in an evolving financial environment. The open and informal setting encouraged candid discussion, allowing insights to flow freely across the table.

APIs and the Future of SWIFT

The conversation began with a provocative question: Could emerging technologies such as APIs render the SWIFT network less relevant for corporate payments?
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While APIs have been widely promoted as the enabler of real-time, seamless connectivity between corporates and banks, treasurers around the table were unconvinced that they currently deliver on that promise—especially when it comes to cross-border payments. "APIs look good on paper," said one treasurer, "but they’re only as transparent and standardised as the banks that deploy them."

There was consensus that, for now, SWIFT remains the backbone of international payments. Although the network has its limitations, it is trusted, mature, and well understood by both corporates and financial institutions. Cross-border APIs, on the other hand, are still evolving and lack the universality that SWIFT offers.

In short, while APIs are being adopted for specific use cases—particularly in domestic or intra-bank contexts—few treasurers believed they could yet replace SWIFT as a foundation for global treasury operations.

Crypto and Stablecoins: Still at the Edges

Cryptocurrencies and stablecoins formed a distinct thread of discussion alongside the API/SWIFT debate. Despite significant hype and some pilot activity, treasurers remained largely cautious, with many viewing these technologies as unproven in a corporate setting.

Stablecoins were seen as having potential, particularly if backed by credible institutions or central bank initiatives. However, adoption remains minimal. As one attendee put it, “We’re watching the space—but we’re nowhere near putting crypto into our treasury strategy.”

There was acknowledgment that a few banks have made efforts to accommodate crypto-based transactions, but many financial institutions still treat the entire category with scepticism. Regulatory ambiguity and volatility were cited as primary barriers to progress. Several participants described crypto’s current corporate use as being stuck at the ‘proof of concept’ stage.

The group agreed that while crypto technologies could one day play a meaningful role in cross-border payments or liquidity management, that future still feels distant. For now, traditional banking rails—and the infrastructure around them—continue to dominate.

The Cash Forecasting Conundrum

Unsurprisingly, cash forecasting emerged as a persistent pain point. Every participant agreed that producing accurate, reliable forecasts remains a major challenge—primarily due to the fragmented nature of the data needed to support them.

Many organisations still depend on Excel spreadsheets, with all the associated risks and manual effort. Some treasurers reported progress through the development of in-house tools or partnerships with forecasting software providers. These systems, while promising, often required significant time and internal alignment to deliver results.

One treasurer summarised the situation: “It’s not just about the tools. It’s about the data—and getting it in time, in the right format, from across the business.”

Lack of data integration, especially in decentralised structures, was a recurring theme. Achieving buy-in from regional teams, securing timely inputs, and validating assumptions all added to the complexity of creating forecasts that could support strategic decision-making.

Legacy Systems and Integration Pain

For those working in organisations that had grown through acquisition, managing treasury across multiple legacy systems was a constant uphill battle. Several attendees described the difficulty of obtaining a consolidated view of cash across dozens—or even hundreds—of entities using different ERPs, TMS platforms, and banking systems.

While the idea of a single, centralised TMS was appealing, many treasurers said that building a business case was difficult. “We know it would be a huge step forward,” one participant said, “but the benefits are hard to quantify in the short term—and that’s what stakeholders want.”

​Others noted that without executive-level sponsorship and a clear return on investment, funding major system overhauls was nearly impossible. As a result, many had resorted to creative workarounds—manually consolidating data, building internal dashboards, or using middleware platforms to fill the gaps.

Shared Problems, Shared Insights

As the lunch drew to a close, the mood in the room was one of reflection—and appreciation. While technology challenges dominated the discussion, the greatest value of the session lay in the open exchange of experiences.

“There’s a comfort in knowing that others are tackling the same problems,” one treasurer noted. “You leave with ideas—and with reassurance.”

The round table reinforced the importance of peer engagement in a rapidly shifting treasury landscape. Whether dealing with disruptive technologies or entrenched operational issues, collaboration and dialogue remain among the most effective tools in the treasurer’s toolkit.

Venue: The Savoy Hotel, London
Sponsor: Bottomline
Host: Treasury Dragons
Date: 11th June 2025

This was the first in a regular series of in-person events for Treasury Dragons subscribers. If you would like to be invited to future events, email [email protected]

Payments operations platform Modern Treasury has launched Modern Treasury AI, which it claims is “the first AI platform purpose‑built for enterprise payments.” The solution leverages proprietary data and context-aware intelligence to help organisations automate and streamline complex payment workflows.

Sam Aarons, Modern Treasury co‑founder and CTO, emphasised that “AI is only as good as the data, and Modern Treasury is uniquely positioned to deliver the first AI capabilities with relevant payments context … No one else has a contextualised dataset of trillions of datapoints on enterprise payments” 

Modern Treasury’s AI is trained specifically on payment metadata, reconciliation logic, exception handling, and outcome history. These functions power an intelligent agent and real‑time workspace designed to assist payment operations teams with tasks like routing decisions, exception triage, reconciliation matching, and audit prep.

Enterprise clients such as Alegeus, Parafin, and Settle are already using the platform, and Modern Treasury says they are reporting faster and more accurate payment operations as a result. 

FIS has launched a new version of its Treasury and Risk Manager – Quantum Cloud Edition. This cloud-native solution can support increased workloads, larger transaction volumes, and increased enterprise connectivity, according to a statement from the firm.

This version of FIS’ treasury and risk management solution offers a new Liquidity Hub module for harnessing data from multiple sources – such as enterprise resource planning systems and bank APIs – to enable cash-management analysis in real time.

“CFOs and corporate treasury departments continually face a complicated landscape of shifting headwinds and tailwinds, including the fluctuations of capital costs, volatile markets and continuously expanding responsibilities,” said JP James, head of Treasury & Risk Management at FIS.

“As part of our commitment to advancing how the world pays, banks and invests, we saw a need for more harmonious workflows that unlock how CFOs and treasurers process company data, understand their financial risks and build well-informed strategies. With this new offering, we’re providing innovative solutions that can help companies better navigate choppy waters and drive growth.”

Embat has acquired Necto, a US-based company focused on premium bank API connectivity, enabling seamless access to banking data and the execution and monitoring of instant payments. 

Necto’s technology enables companies to connect with multiple banks through a single access point, eliminating the need for individual integrations with each institution. This simplifies payment automation, bank reconciliation, and real-time financial data access. Since its inception, Necto has integrated more than 30 banks and nearly 100 API services. 

This acquisition further strengthens Embat’s cloud-based platform, which is designed for finance teams within mid-sized and large enterprises. It also enhances Embat’s ability to support clients in key markets such as the UK, Spain, and the DACH region and its integrations with financial institutions such as J.P. Morgan, Citi, Barclays, HSBC, Commerzbank, Deutsche Bank, and Wells Fargo. 

“At Embat, we are committed to modernising banking infrastructure through APIs, and Necto’s technology perfectly aligns with our vision. Their solution complements our banking connectivity capabilities and allows us to expand our coverage and partnerships with major global banks,” said Tomás Gil, Partner and CTO at Embat. 

Currently, Embat integrates with over 15,000 banking institutions and supports transactions in 70 currencies, managing financial flows for more than 300 corporate clients. 

Spanish newcomer Embat has completed a $16 million Series A funding round as it prepares to grow its reach in the crowded treasury technology market.

The firm, which bills itself as, 'A platform for complete liquidity visibility' , majors on the use of APIs to bring connect multiple data sources and deliver 'real time treasury' to mid-market firms. Existing clients include Cabify, Freepik and Playtomic. 

This latest round was led by Creandum funds' with participation from Samaipata, 4Founders Capital and VentureFriends.

Kyriba has struck a deal with Societe Generale which sees its financial transaction management module integrated into SG Markets, Societe Generale’s BtoB platform.

The API-based connection will allow SG's mid-cap company clients in France to execute their hedging 'with a single click'. Hedges arranged in Kyriba are then automatically pre-populated in the SG Markets platform to be executed. SG Markets updates FX positions in Kyriba, automatically and in real-time.

“Currency market volatility continues to impact the financial performance of European companies," said Edi Poloniato, Global Head of Banking Solutions at Kyriba. "The partnership set up with Societe Generale allows us to expand our solutions for optimizing foreign exchange risk management. Together, we are creating even more value for our joint customers.” 

Fides Treasury Services has integrated its suite of payments, reporting and cash management solutions into a single interface for the first time with the launch of ONEHub as its main product offering for corporate treasury teams.

ONEHub will also act a gateway to a, "Curated array of financial solutions from the extensive Fides partner ecosystem", according to the company.
 
Fides CEO Andreas Lutz said the company will  be adding more modules such as Fides Cash Pooling,  in the coming weeks  Companies can implement one module or the full hub based on their specific needs.