National Australia Bank (NAB) and Trovata have announced their partnership, making strides in the world of FinTech.
NAB, a leading Australian bank, has always been at the forefront of delivering innovative banking solutions. On the other hand, Trovata, a significant name in the FinTech arena, has been known for its cutting-edge technology solutions to simplify cash management.
The driving force behind this collaboration is to bestow corporate customers with a next-gen cash management solution. By introducing NAB Liquidity+, an AI-enabled platform, the partnership aims to save time for corporates and present real-time cash and forecasting visibility.
NAB, one of Australia’s largest financial institutions, delivers a wide range of banking services, ensuring robust financial outcomes for its clients. With the unveiling of Liquidity+, NAB is further strengthening its commitment to providing unparalleled financial solutions.
Trovata, a NAB Ventures portfolio company, utilises AI-based technology to make cash management seamless. By eliminating the need for time-consuming manual tasks, Trovata empowers financial teams with real-time financial insights. Its platform’s integration features also consolidate cash flow data, enhancing overall financial visibility.
Liquidity+, powered by Trovata, is a robust platform that amalgamates critical banking data. This confluence ensures real-time visibility of cash positions, delivering precise cash insights and dynamic forecasting. Recognising that most large corporates collaborate with multiple banking partners, NAB ensured that this partnership with Trovata would not restrict this dynamic, leveraging Trovata’s global leadership in bank APIs and enterprise cash management.
The NAB Liquidity+ platform aims to serve as a comprehensive solution for corporate clients, addressing the challenges they face with fragmented data. This digital platform will provide benefits in cash, liquidity, capital management, and more, fostering long-term financial confidence.
NAB Executive for Transaction Banking, Jonathan Adams, said, “Many of our corporate clients’ treasury and finance teams were grappling with large volumes of fragmented data to manually reconcile and compile cash flow analysis in spreadsheets, and we were determined to deliver a better solution.”
Trovata Founder and CEO Brett Turner commented, “There is a strong need for automation so that they can spend less time in spreadsheets and more time as strategic advisors for their businesses. Smart banks – like NAB – know this and are innovating to make their customer’s lives easier.”
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