NAB partners with Trovata on next-gen cash management solution

NAB Liquidity+ will allow corporate customers to bring together their critical banking data, providing comprehensive and real-time visibility of their cash positions and delivering dynamic cash insights and precision forecasting.

Executives from NAB said the bank’s ambition is to make banking fast, secure, and simple for customers. Many of their corporate clients’ treasury and finance teams were grappling with large volumes of fragmented data to manually reconcile and compile cash flow analysis in spreadsheets, and they were determined to deliver a better solution. NAB Liquidity+ is a cutting-edge digital platform that can drive cash and liquidity benefits, improve capital management, support working capital initiatives, and generate long-term financial confidence for customers.

Nab recognised most large corporates have more than one banking partner and they didn’t want this to be a limitation, which is why they’ve partnered with Trovata, a global player in bank APIs and enterprise cash management.

Trovata’s AI-based technology eliminates manual tasks and enables treasury teams to create and distribute accurate, real-time financial information to company stakeholders. The platform’s integration features allow customers to access both NAB and third-party bank accounts to consolidate cash flow data at a group level, improving visibility and control.

Trovata’s officials said today’s finance and treasury teams are expected to do more than ever, all while navigating smaller budgets and fewer resources. There is a strong need for automation so that they can spend less time in spreadsheets and more time as strategic advisors for their businesses. Smart banks – like NAB – know this and are innovating to make their customer’s lives easier.

More news from NAB

In May 2023, NatWest and NAB have published a white paper exploring the common threads that bind both Australia’s Consumer Data Right (CDR) and the UK’s Open Banking regime.

The agenda-setting white paper highlights the similarities in the policies that underpin both regimes: to increase competition, innovation, and to empower consumers with control over their data, as well as how the two countries have diverged in their journeys to implementing these frameworks, notably in relation to their respective scope in terms of ‘breadth versus depth’.