Companies

Modern Treasury Drives Growth of Instant Payments with Leading Banks

Modern Treasury

"Modern Treasury, essential infrastructure for the new era of payments, announced that it has expanded instant payments support for mutual customers of six leading banks — Bank of America, Cross River, JPMorgan Chase, PNC Financial Services, U.S. Bank and Wells Fargo. The company processes $1 billion in instant payments annually on its platform, with new rails unlocking growth for customers."

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Companies

Modern Treasury Launches Enhanced Reconciliation Product at Transfer Conference

Business Wire

"Modern Treasury introduced new innovations to its Reconciliation product and AI tools to help companies automate complex reconciliation challenges."

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Companies

Modern Treasury Launches Professional Services to Drive Payments Transformation in the Enterprise

Business Wire

"Modern Treasury announced the launch of its Professional Services offering to help enterprises scale modern payment infrastructure so they can innovate faster, reduce risk, and unlock new revenue."

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Companies

Modern Treasury Named to 2024 Fintech Innovation 50

Business Wire

"Modern Treasury, the operating system for a new era of payments, was named to the 2024 Fintech Innovation 50, an annual list launched by GGV Capital U.S. in partnership with Crunchbase, to recognize the most promising fintech companies in the eyes of startup investors."

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Companies

Modern Treasury Joins U.S. Bank Connected Partnership Network

Business Wire

"Partnership will expand use of technology, applications, and embedded payments for mutual customers of Modern Treasury and U.S. Bank"

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Companies

Modern Treasury Joins J.P. Morgan’s Payments Partner Network

Businesswire

"Modern Treasury, the operating system for the new era of payments, has joined J.P. Morgan’s Payments Partner Network...Enterprises can leverage Modern Treasury’s software to integrate directly with J.P. Morgan’s treasury solutions, and embed payments that boost revenue, modernize existing payment infrastructure, and manage fund flows, securely and at scale."

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Companies

Nine of 10 Companies Face Problems with Payment Operations, 39% Still Manual, New Modern Treasury Research Reveals

Businesswire

"Modern Treasury, the operating system for the new era of payments, today released survey results from their annual The State of Payment Operations 2023 report showing that legacy payment operations continue to result in high rates of failed payments, slow payments, errors and lost time in finance departments to clean up issues."

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Companies Glenbrook

Building International Payment Systems: A Conversation with Glenbrook’s Elizabeth McQuerry

Modern Treasury

"My colleague Lucas Rocha and I recently logged into a zoom call to interview one of the eminent experts on international payments, Elizabeth McQuerry. Dr. McQuerry, now a Partner at Glenbrook leading Global Payments Practice, has over 20 years of experience developing and supporting products for cross-border transactions. Prior to Glenbrook, she was the CEO of the International Payments Framework Association (IPFA) and served as the head of FedGlobal ACH for the Federal Reserve Retail Payments Office. During her time at the Fed, she worked with Global ACH (also known as cross-border ACH), a SWIFT alternative we launched support for this spring."

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Companies Glenbrook

The Real-Time Payments Network Is Here to Stay

Modern Treasury

"Financial expert Cici Northup has spent the past decade designing and implementing real-time payment systems in emerging markets in countries across Africa and Asia. “It’s a broad term, ‘real-time payments,’” Northup recently told Modern Treasury. “But it showcases the general swing we’re seeing in payments where funds are made available to end users immediately, on a 24/7/365 basis at low cost, supported by a variety of institutions and channels.”"

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Companies

Modern Treasury Announces Reconciliation Engine to Drive Greater Efficiency and Financial Transparency for Companies

Businesswire

Modern Treasury, the operating system for the new era of payments, today announced its expanded Reconciliation Engine, which automates and simplifies end-to-end cash reconciliation for businesses. This enhanced offering drives speed and efficiency, accelerates growth, reduces financial risk, and provides real-time insight into payment flows by enabling businesses to track and confirm their transactions as they happen.

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Companies

Modern Treasury Announces Global ACH Capabilities to Provide Customers with Access to Lower Cost Cross-Border Payments

SVB

"Modern Treasury, the operating system for the new era of payments, and Silicon Valley Bank, today announced the availability of a new global payment solution, which will allow mutual clients to send cross-border payments more efficiently, predictably, and at a lower cost by leveraging local payment rails. Global ACH will provide mutual customers with more choices for cross-border payments beyond the SWIFT network. With Global ACH, customers can automate international payments using the ACH- and RTP-equivalent payment rails in other countries."

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Companies

Almost 9 of 10 Companies Face Problems with Existing Payment Systems, New Modern Treasury Research Shows

Businesswire

“Modern Treasury, a software platform that helps companies modernize money movement, released new research today, conducted by the Harris Poll, showing that 88% of financial decision makers feel that their company faces problems with their payment operations given high rates of payment failures, returns or refunds, a low rate of accurate payment reconciliation, and data quality errors. Managing payments is still too cumbersome, with 69% of financial decision makers saying it takes too long, up from 61% last year, indicates the second annual “Money’s Next Move: The State of Payment Ops” survey of companies with 500 to 4,999 employees. Four of 10 financial decision makers (40%) describe payment operations as manual, up from 33% last year. Of the 88% reporting problems with payment systems, approximately one-third cite a lack of real-time insight into cash balances (30%) and experience high rates of payment returns or refunds (28%).”

Tags: Modern Treasury