Latest news with #StateStreet
Finextra
2 days ago
- Business
- Finextra
Trovata buys treasury management system Atom
Cash and liquidity management platform Trovata has acquired treasury management system (TMS) Atom and secured $9 million in investment. 0 Developed by Financial Sciences Corporation, Atom boast a 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. It will now be integrated into Trovata's cloud-native platform built on corporate banking APIs and AI, in what the firm claims makes it the first modern, viable TMS alternative to the legacy incumbents. In addition, Trovata has raised $9 million in a Series B extension from State Street and The PNC Financial Services Group. This brings the company's total funding to $80 million, with investors including JP Morgan, Wells Fargo, National Australia Bank, Capital One Ventures, and Mastercard. "There hasn't been a new TMS built in nearly three decades," says Brett Turner, CEO, 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."
Bloomberg
5 days ago
- Business
- Bloomberg
Will State Street Follow Invesco's Lead? Never Say Never.
State Street is in a slightly different situation. Welcome to ETF IQ, a weekly newsletter dedicated to the $14 trillion global ETF industry. I'm Bloomberg News reporter and anchor Katie Greifeld. Last week, we discussed Invesco attempting to crack open its piggy bank and share in some of the massive profits that QQQ spins off. This week, we got a few more specifics on what it might look like should Invesco succeed in converting QQQ from a unit investment trust into an open-ended fund: about $150 million per year, give or take.
Yahoo
6 days ago
- 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
Reuters
7 days ago
- Business
- Reuters
Safe-haven gold slips as trade optimism lifts risk appetite
July 24 (Reuters) - Gold prices fell for a second straight session on Thursday, as signs of easing global trade tensions dampened demand for safe-haven assets. Spot gold was down 0.8% at $3,362.35 per ounce, by 9:41 a.m. ET (1340 GMT). U.S. gold futures dropped 0.9% to $3,367.40. The market is optimistic about trade deals — first with the U.S. and Japan, and now possibly the EU, said Aakash Doshi of State Street Investment Management, adding that strong equities and low volatility have weighed on gold's upside. The U.S. and European Union were making progress toward a trade deal that may include a 15% baseline U.S. tariff on EU goods, with potential exemptions. The move comes shortly after Washington unveiled a separate agreement with Japan. Meanwhile, U.S. President Donald Trump's unexpected visit to the Federal Reserve added a layer of uncertainty to the policy outlook. The White House confirmed the visit, which comes amid Trump's repeated criticism of Fed Chair Jerome Powell for not cutting rates more aggressively. "Any potential interference with Fed independence is supportive for gold over the medium to long term," Doshi said. The Fed is widely expected to leave rates unchanged at its July 29–30 meeting, but markets continue to price in a potential rate cut in September. A safe-haven asset during times of economic uncertainties, gold also tends to do well in a low-interest rate environment. On the data front, U.S. jobless claims unexpectedly fell last week, signalling a steady labour market despite sluggish hiring making it harder for the unemployed to find work. Spot silver slipped 1% to $38.87 per ounce, palladium dropped 2.2% to $1,247.68 and platinum fell 0.8% to $1,400.18.
Yahoo
23-07-2025
- Business
- Yahoo
Private Credit ETF Flows Catch Up: State Street's Paglia
On "Bloomberg ETF IQ," Scarlet Fu and Katie Greifeld talk with State Street's Anna Paglia about the possibility of SPDR S&P 500 ETF Trust (ticker: SPY) following the same steps by QQQ, the flows for the SPDR SSGA IG Public & Private Credit ETF (ticker: PRIV) and sector flows.
