Fund Connect users get access to API-driven
liquidity intelligence to maximize interest income
SAN
DIEGO, July 25, 2024 /PRNewswire/ -- Trovata, the
leading bank API-powered platform for managing cash &
liquidity, announced today an integration with State Street's Fund
Connect. This integration will enable joint clients to access Fund
Connect as a third-party investing and trading tool with access to
over 25 leading fund managers, from the Trovata platform. Now,
finance and corporate treasury teams will be able to determine
liquidity needs, then seamlessly invest excess cash with Fund
Connect, all in just a few clicks.
"The integration of Fund Connect and
Trovata will combine expertise in fund management with innovative
technology."
Understanding their company's cash position to invest excess
cash has historically been a challenging, disparate process for
treasury and finance professionals. Often, they are collecting bank
files, aggregating and normalizing data, and building reporting in
spreadsheets. This is hours of manual work to gain visibility, all
before logging into an investments portal to take action. Trovata
digitally transforms the treasury function, leveraging bank APIs,
AI, and automation to offer real-time reporting and forecasting.
Armed with this intelligence, companies can now take quick action
to invest with Fund Connect, all within a single interface.
"Trovata makes it easy to determine with precision, how much
cash you need to run your business and how much cash you can invest
to earn interest income," stated Brett
Turner, Founder & CEO of Trovata. "Finance and treasury
teams need a combined solution that's quick to stand up, seamless
to use, while maintaining full visibility and control. Trovata
gives State Street clients a refreshingly modern front end to
corporate investing."
With Fund Connect, finance and treasury teams can gain real-time
global portfolio access, enabling comparisons across key factors
including fund managers, fund types, and currencies. Fund Connect
trading and holdings data will flow into Trovata, consolidating
operational and investment oversight in one unified experience.
"The integration of Fund Connect and Trovata will combine
expertise in fund management with innovative technology to provide
investors with unparalleled insights, seamless connectivity and
data to help clients optimize their financial strategies," said
Greg Fortuna, Head of
GlobalLink.
Fund Connect is a part of GlobalLink, State Street's global
suite of electronic trading platforms that offer a single interface
for managing short-term liquidity through an innovative electronic
trading solution. Fund Connect supports multiple money market
account structures, including fully disclosed, omnibus, and
nominee, all of which can be used in various combinations through a
single login.
About Trovata:
Trovata makes it easy for businesses to automate cash reporting,
forecasting, analysis, and money movement. By bridging the gap
between banks and business systems, Trovata helps companies gain
powerful insights into their cash flows and facilitates better,
quicker business decisions. As an end-to-end fintech platform for
managing cash, Trovata collaborates with the world's largest
financial institutions to deliver next-gen banking services.
Trovata is based in San Diego,
CA.
To learn more about Trovata, please visit www.trovata.io.
About State Street Corporation:
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $44.3
trillion in assets under custody and/or administration and
$4.4 trillion* in assets under
management as of June 30, 2024, State
Street operates globally in more than 100 geographic markets and
employs approximately 53,000 worldwide. For more information, visit
State Street's website at www.statestreet.com.
*Assets under management as of June
30, 2024 includes approximately $69
billion of assets with respect to
SPDR® products for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) acts solely as the
marketing agent. SSGA FD and State Street Global Advisors are
affiliated.
Media Contacts:
Trovata
Rida Khan, rida.khan@trovata.io
State Street
Brendan Paul,
bpaul2@statestreet.com
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SOURCE Trovata