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Trovata streamlines next-generation banking for National Australia Bank

By Gloria Mathias

December 08, 2023

  • australia fintech
  • Cashflow management
  • core technology.
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National Australia Bank, NAB, Trovata, Liquidity+, Fintech News, Fintech solutions, Australia Fintech, Next-generation, Core Technology, Cashflow  management, National Australia Bank (NAB) and Trovata have partnered to bring NAB Liquidity+, a product powered by Trovata, to the bank’s corporate customer base. Trovata’s AI-based technology ensures its bank partners can meet the demands of their customers, who are facing unprecedented pressures in a rapidly evolving economic environment.

“Finance teams have always been expected to continuously manage account data scattered across various banks and then manually build and maintain cash flow reporting and forecasting models in spreadsheets,” said Brett Turner, Founder and CEO at Trovata. “NAB acutely understands the need for automation in finance and treasury. With NAB Liquidity+, teams get bank balances and transaction data seamlessly integrated in a platform that automates a lot of their cash management workflows, which include cash positioning, cash flow analysis, and forecasting.”

NAB Liquidity+ assists the bank’s corporate customers with priorities like cash flow forecasting and liquidity management, along with other cash management needs. Further details on the partnership include:

  • AI-powered solutions for account data matching, reporting, and cash flow analysis.
  • An easily accessible, single sign-on (SSO) enabled integration, allowing customers to access both NAB and third-party bank accounts to consolidate cash flow data at a group level, improving visibility and control.
  • Additionally, Trovata AI, the first generative AI app for finance and treasury teams, will be made available for free to all NAB customers.

NAB Ventures Managing Director, Amanda Angelini, said it was exciting to see the relationship with Trovata evolve with the launch of NAB Liquidity+, which is already delivering real cost and time savings for some of our largest corporate customers.

“We invested in Trovata in 2022 knowing their treasury platform and AI capability could solve a significant customer need and the feedback from early adopters is already overwhelmingly positive,” she said. “The immediate success of NAB Liquidity+ is a great example of the mutual benefits that come from strategic investing, and we look forward to supporting the Trovata team as they continue to grow and innovate in the rapidly expanding digital and open banking market.”

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