Trovata partners with the National Australia Bank

Following this announcement, the corporate customer base of the National Australia Bank will be enabled to leverage the NAB Liquidity+ service for an improved cash management system. Both enterprises will focus on enabling financial institutions and bank partners to meet the demands of their clients in a rapidly evolving economic environment that makes their development process more challenging. 

Companies will be allowed to manage their cash in a more accurate and secure manner, as the AI-based technology of Trovata will provide them with connectivity, speed, and scalability as well. NAB Liquidity+ will assist the bank’s corporate users with priorities, such as cash flow forecasting and liquidity management, alongside other cash management needs and priorities. 

Included in the list of benefits are the AI-powered services that can be utilised for account data matching, reporting, or cash flow analyses, as well as an easily accessible, single sign-on (SSO) enabled integration. This is set to allow clients to access both NAB and third-party bank accounts in order to consolidate cash flow data at a group level and improve the overall visibility and control of the process. 

Trovata AI, the company’s generative AI application for finance and treasury firms, will also be made available for free to all the National Australia Bank users. 

Trovata’s recent partnerships and developments

Trovata had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world. 

In October 2023, US-based financial institution J.P. Morgan announced its collaboration with Trovata in order to design a new suite of services for treasury management improvement. Following this announcement, the companies developed two new offerings for Corporate Investment Banking (CIB) customers and users. These included the J.P. Morgan Treasury Workstation and the J.P. Morgan Multibank Reporting, both provided with the implementation of Trovata’s solutions. 

According to the press release published at the time, the capabilities were expected to improve the overall treasury management for the bank’s CIB users and customers. In addition, Trovata was set to enable the financial institution to provide its account holders and partners with real-time data, security, connectivity, as well as onboarding processes across multiple banks with the use of a single API.

Earlier in the same month, the National Australia Bank (NAB) announced its partnership with Trovata in order to launch the NAB Liquidity+ service, an AI-enabled cash management, analytics, and forecasting platform. Through this strategic deal, NAB Liquidity+ was expected to provide corporate customers and businesses with the possibility to bring together their critical banking data, as well as offer comprehensive and real-time visibility over their cash positions. Furthermore, the companies could also focus on delivering dynamic cash insights, as well as precision forecasting.

Trovata’s AI-based technology was set to eliminate manual tasks and to enable treasury teams to design and distribute accurate, real-time financial information to firm stakeholders. The platform’s integration features allowed clients to access both NAB and third-party bank accounts in order to consolidate cash flow information at a group level, aiming to optimise control and transparency.