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NAB & Trovata to offer next-gen cash management solution to corporates

By Gloria Mathias

October 06, 2023

  • AI-enabled cash management
  • APAC Fintech news
  • Artificial Intelligence
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NAB, Corporate Financing, Artificial Intelligence, Cash Management, Working Capital, Australia Fintech, NAB, an Australian bank has launched a new AI-enabled cash management, analytics and forecasting platform, Liquidity+, powered by Trovata, to offer NAB’s corporate customers real-time visibility of cash and forecasting.

Trovata CEO Brett Turner said, “There’s a need for automation so customers can spend less time in spreadsheets. NAB has delivered a breakthrough treasury solution to customers with the launch of a new AI-enabled cash management, analytics and forecasting platform, NAB Liquidity+. The platform is powered by Trovata, a NAB Ventures portfolio company.”

“NAB Liquidity+ will empower corporate customers to bring together their critical banking data, providing comprehensive and real-time visibility of their cash positions and delivering dynamic cash insights and precision forecasting,” added Turner.

NAB Executive for Transaction Banking, Jonathan Adams, said, “The bank’s ambition is to make banking fast, secure, and simple for customers. 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,”

“We recognise most large corporates have more than one banking partner and we didn’t want this to be a limitation, which is why we’ve partnered with Trovata, a global leader in bank APIs and enterprise cash management,” Adams said.

Trovata’s AI-based technology eliminates time-consuming manual tasks and enables treasury teams to create and distribute accurate, real-time financial information to company stakeholders. The platform’s integration features allow customers to securely access both NAB and third-party bank accounts to consolidate cash flow data at a group level, improving visibility and control.

Trovata Founder and CEO Brett Turner said, “Today’s finance and treasury teams are expected to do more than ever, all while navigating smaller budgets and fewer resources.

“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,” said Turner.

NAB Liquidity+ is geared towards large-scale Corporate & Institutional clients with sophisticated cash, liquidity and working capital needs.

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