Latest news with #TreasuryManagementSystem
Yahoo
24-07-2025
- Business
- Yahoo
Trovata Acquires ATOM, Unlocking Full Treasury Management Capabilities to Redefine Corporate Treasury
Adds $9M from State Street and PNC, Deepening Trovata's Backing by the World's Top Financial Institutions SAN DIEGO, July 24, 2025 /PRNewswire/ -- Trovata, the next-generation multibank data platform powering cash and liquidity management for today's leading companies, announced its acquisition of ATOM, the enterprise Treasury Management System (TMS) developed by Financial Sciences Corporation. This move marks a bold step forward in Trovata's mission to modernize and democratize treasury technology, unlocking the full capabilities required to serve large global enterprises. With ATOM's deep treasury feature set—including support for debt and investment instruments, intercompany transactions, in-house bank support, credit facilities, FX hedging, full domestic and international payment workflow, bank fee analysis and bank account management—fully integrated into Trovata's cloud-native platform, Trovata becomes the first modern, viable TMS alternative to the legacy incumbents. The combined offering delivers unprecedented scale, flexibility, and performance for corporate finance and treasury teams seeking to modernize. Trovata also announced a $9 million strategic extension to its Series B round from new investors State Street Corporation and The PNC Financial Services Group, Inc. This brings the company's total funding to $80 million, with over $50 million previously raised from a consortium of some of the world's largest financial services companies, including J.P. Morgan, Wells Fargo, National Australia Bank, Capital One Ventures, and Mastercard. "There hasn't been a new TMS built in nearly three decades," said Brett Turner, Founder and CEO of Trovata. "We pioneered corporate banking APIs and the only true cloud-native treasury platform in the market with meaningful scale. Now, with ATOM, we have the firepower to compete directly with the legacy incumbents—and replace them. This isn't just expansion. It's a generational shift in treasury tech." Alf Newlin, Co-Founder and CEO of Financial Sciences, added: "ATOM was built for complexity and designed to serve Fortune 500 treasury teams with global scale. Combining our comprehensive and battle-tested treasury system with Trovata's platform architecture and bank distribution model creates a solution that's both powerful and unmatched." Unlike legacy platforms that are cloud-hosted but not cloud-native, Trovata was built from the ground up on a microservices architecture that's entirely serverless. Its infrastructure deploys in minutes—not months—and scales instantly, whether through direct enterprise engagement or its network of preferred banking partners. In a space overdue for reinvention, Trovata is setting a new standard. Its integrated platform—powered by AI, APIs, and now a full TMS suite—is transforming how companies manage cash and risk to make better and faster decisions. About TrovataTrovata is reengineering the way companies manage cash. No spreadsheets. No legacy systems. Just real-time visibility, intelligent forecasting and analysis, and seamless money movement—all in one unified platform. As the first cloud-native treasury platform built on corporate banking APIs and AI, Trovata partners with the world's largest financial institutions to deliver next-gen digital experiences for corporate finance and treasury teams at scale. Learn more at and follow us on LinkedIn. Media ContactRida View original content to download multimedia: SOURCE Trovata
Mid East Info
11-06-2025
- Business
- Mid East Info
EDGE and FAB Sign Strategic Agreement to Build a Resilient Financial Ecosystem - Middle East Business News and Information
EDGE will leverage FAB's Supply Chain Finance SCF solution for innovative financing opportunities at all stages of EDGE's supply chain, while the AI-powered Treasury Management System TMS will automate treasury operations Abu Dhabi, UAE: June 2025 – EDGE Group, one of the world's leading advanced technology and defence groups, has entered a strategic partnership with First Abu Dhabi Bank (FAB), the UAE's global bank. The agreement covers two major financial initiatives: the implementation of FAB's advanced Supply Chain Finance (SCF) solution and the deployment of its AI-powered Treasury Management System (TMS). Hamad Al Marar, Managing Director and CEO of EDGE said: 'Our partnership with FAB is a strategic enabler of EDGE's global industrial ambitions. It reinforces the financial architecture required to operate at scale, with speed and resilience. In an increasingly competitive and complex environment, this alignment ensures we remain agile, well-capitalised, and positioned for sustained international growth.' Martin Tricaud, Group Head of Wholesale Banking at First Abu Dhabi Bank (FAB), said: 'FAB's partnership with EDGE marks a step forward in building a more resilient supplier ecosystem. We recognise that effective cashflow and supply chain finance are fundamental to sustainable business models. By combining our global expertise with innovative financial solutions, we are enhancing financial agility and enabling long-term value creation.' Through FAB's digital SCF solution, EDGE provides local and international suppliers access to early, low-cost financing, which enhances supplier trust, improves commercial terms, and ensures continuity across critical operations. EDGE's deployment of FAB's AI-powered TMS represents the largest to date. The solution delivers real-time cash visibility, advanced forecasting capabilities, and integrated risk management tools, enabling EDGE to automate treasury operations and optimise liquidity across the Group. The platform provides protection for interest rate risk and FX risk, while improving financial agility, investment planning, and funding. Rodrigo Torres, Group Chief Financial Officer of EDGE, said: 'This partnership reflects EDGE's commitment to embedding financial sophistication and innovation at the core of our operations. By integrating FAB's advanced SCF and AI-powered TMS platforms, we are optimising liquidity and supplier performance while also reinforcing our ability to manage risk and scale with confidence. To date, over AED 1.6 billion in invoices have been processed, unlocking more than AED 1.2 billion in off-balance sheet financing. These solutions enable real-time cash control, intelligent forecasting, and stronger financial governance across the Group – all of which are critical to supporting our long-term growth strategy and industrial objectives.' About EDGE: Launched in November 2019, the UAE's EDGE is one of the world's leading advanced technology groups, established to develop agile, bold and disruptive solutions for defence and beyond, and to be a catalyst for change and transformation. It is dedicated to bringing breakthrough innovations, products, and services to market with greater speed and efficiency, to position the UAE as a leading global hub for future industries, and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive. With a focus on the adoption of 4IR technologies, EDGE is driving the development of sovereign capabilities for global export and for the preservation of national security, working with front-line operators, international partners, and adopting advanced technologies such as autonomous capabilities, cyber-physical systems, advanced propulsion systems, robotics and smart materials. EDGE converges R&D, emerging technologies, digital transformation, and commercial market innovations with military capabilities to develop disruptive solutions tailored to the specific requirements of its customers. Headquartered in Abu Dhabi, capital of the UAE, EDGE consolidates more than 35 entities into six core clusters: Platforms & Systems, Missiles & Weapons, Space & Cyber Technologies, Trading & Mission Support, Technology & Innovation, and Homeland Security.
Al Etihad
11-06-2025
- Business
- Al Etihad
EDGE, FAB sign strategic agreement to build a resilient financial ecosystem
11 June 2025 13:12 ABU DHABI (ALETIHAD)EDGE Group, one of the world's leading advanced technology and defence groups, has entered a strategic partnership with First Abu Dhabi Bank (FAB).The agreement covers two major financial initiatives: the implementation of FAB's advanced Supply Chain Finance (SCF) solution and the deployment of its AI-powered Treasury Management System (TMS).Hamad Al Marar, Managing Director and CEO of EDGE, said, 'Our partnership with FAB is a strategic enabler of EDGE's global industrial ambitions. It reinforces the financial architecture required to operate at scale, with speed and resilience. In an increasingly competitive and complex environment, this alignment ensures we remain agile, well-capitalised, and positioned for sustained international growth.'Martin Tricaud, Group Head of Wholesale Banking at FAB, said, 'FAB's partnership with EDGE marks a step forward in building a more resilient supplier ecosystem. We recognise that effective cash flow and supply chain finance are fundamental to sustainable business models. By combining our global expertise with innovative financial solutions, we are enhancing financial agility and enabling long-term value creation.'Through FAB's digital SCF solution, EDGE provides local and international suppliers access to early, low-cost financing, which enhances supplier trust, improves commercial terms, and ensures continuity across critical deployment of FAB's AI-powered TMS represents the largest to date. The solution delivers real-time cash visibility, advanced forecasting capabilities, and integrated risk management tools, enabling EDGE to automate treasury operations and optimise liquidity across the platform provides protection for interest rate risk and FX risk while improving financial agility, investment planning, and Torres, Group Chief Financial Officer of EDGE, said, 'This partnership reflects EDGE's commitment to embedding financial sophistication and innovation at the core of our operations. By integrating FAB's advanced SCF and AI-powered TMS platforms, we are optimising liquidity and supplier performance while also reinforcing our ability to manage risk and scale with confidence." He added that to date, over Dh1.6 billion in invoices have been processed, unlocking more than Dh 1.2 billion in off-balance sheet financing. These solutions enable real-time cash control, intelligent forecasting, and stronger financial governance across the Group – all of which are critical to supporting the long-term growth strategy and industrial objectives. Source: Aletihad - Abu Dhabi
