TreasuryXpress, the global leader in on-demand treasury management solutions today announced a partnership with Envestnet | Yodlee, a leading data aggregation and data analytics platform for digital financial services, to create a fully digitized approach to bank connectivity for corporate treasurers. The new solution will significantly reduce the time and costs associated with bank connectivity for corporate treasurers while expanding the banking reach for corporate clients worldwide.
Connectivity in a fraction of the time and cost
“After years of experience in implementing TMS', it is clear that connectivity is the most painful aspect to tackle during a project and usually causes the most delays for corporate treasurers,” says Anis Rahal, CEO and founder of TreasuryXpress. “Treasurers and TMS providers have had to rely manual connectivity protocols and onboarding processes that often result extravagant delays. Integrating Envestnet | Yodlee’s financial data API allows us to now achieve fully automated, secure, bank connectivity in a fraction of the time and cost.”
PSD2 and open-banking
TreasuryXpress’ latest innovation will provide PSD2 and open-banking compliant access to over 20,000 banks across the Americas, Europe, MENA, and APAC regions of the world. This expansive and fully automated reach will help corporate treasurers improve time-to-market and achieve comprehensive visibility in both existing and emerging markets.
“TreasuryXpress shares our vision for simplifying how clients can gain access to information and we are pleased to be a part of their journey,” says Matt Cockayne, VP EMEA, Envestnet | Yodlee. “Through the integration of our single, unified, API platform into their on-demand treasury management products, customers will have access to enriched data and analytical insights.”
Finally defining the true digital, SaaS model
The TreasuryXpress integration with Envestnet | Yodlee further expands the firm’s unique On-Demand TMS model that is characterized by instant access and automated connectivity experiences. Corporate treasurers using TreasuryXpress’ solutions will have a reliable and cost-effective on-demand alternative for accessing financial institutions that may not be on the SWIFT network or where H2H is not a viable option.
“Digital transformation is defined by speed and the ability to collect and access data across channels. It is not defined by whether a TMS is a Cloud solution or not. It is how that solution uses modern Cloud innovation to connect to data, particularly banking data,” continues Rahal. “By enabling clients to be able to collect their banking data on the spot, TreasuryXpress has uniquely eliminated manual bank connectivity, thus finally defining the true digital, SaaS model for the 21st century.”
CTMfile take: This could define the true digital, TMS SaaS model solution for the 21st century.