FloQast has announced its partnership with Trovata in order to make it easier for accounting teams to connect bank data to the FloQast Platform.
Following this announcement, through the use of FloQast’s Trovata-powered Bank Connector, teams will have the possibility to automate bank transaction uploads, streamline reconciliations with FloQast AI Transaction Matching, as well as close the books faster and more accurately.
In addition, FloQast customers will no longer need to manually download bank statements or rely on spreadsheets, as Trovata’s platform is expected to automate the overall process of aggregating bank data into FloQast, saving time and ensuring data accuracy.
More information on the FloQast x Trovata partnership
According to the official press release, the collaboration with Trovata is set to address a major pain point for customers, which is represented by the manual and tedious process of uploading bank statements to perform reconciliations. With this in mind, FloQast’s Trovata-powered Bank Connector aims to automate the aggregation of bank data, delivering faster, more consistent data flows and unlocking the full development of the AI Transaction Matching in order to offer improved automation and accuracy. At the same time, because the Trovata integration is set up directly within the FloQast platform, there will be no need for additional logins or switching between systems. This strategy is set to provide an integration solution that delivers a faster, more consistent, and more secure data flow with just a few steps.
Furthermore, the integration of Trovata’s Open Banking APIs directly into FloQast’s platform is expected to eliminate friction points while giving finance teams the possibility to benefit from real-time, accurate transaction data as well. Both institutions will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
The process of getting started with FloQast’s new Trovata-powered Bank Connector is simple, as the setup strategy will be kicked off directly in FloQast and then managed by Trovata as a service in order to ensure a secure and efficient integration of bank data. At the same time, the solution is set to address common challenges, such as manual uploads, inconsistent file formats, and security risks that are usually associated with transferring sensitive information. For customers and clients who are using Trovata’s full treasury platform, outbound connectivity to FloQast aims to represent an optimised integration, making it easier to extend the benefits of Trovata’s real-time bank data into the FloQast platform.
