NAB has launched a new AI-enabled cash management, analytics and forecasting platform. According to NAB, the solution represents a breakthrough treasury solution.
The platform is powered by Trovata, a NAB Ventures portfolio company.
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NAB Liquidity+ will empower corporate customers to bring together their critical banking data. Moreover, it provides comprehensive and real-time visibility of clients’ cash positions and delivers dynamic cash insights and precision forecasting.
NAB Executive for Transaction Banking, Jonathan Adams, said the bank’s ambition is to make banking fast, secure and simple.
“Many of our corporate clients’ treasury and finance teams were grappling with large volumes of fragmented data to manually reconcile and compile cash flow analysis in spreadsheets. We were determined to deliver a better solution,” said Adams.
Trovata: ‘a global leader in bank APIs and enterprise cash management’
“We recognise most large corporates have more than one banking partner. We didn’t want this to be a limitation, which is why we’ve partnered Trovata, a global leader in bank APIs and enterprise cash management.
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By GlobalData“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.”
Trovata’s AI-based technology eliminates time-consuming manual tasks. It enables treasury teams to create and distribute accurate, real-time financial information to company stakeholders. The platform’s integration features allow customers to securely access both NAB and third-party bank accounts to consolidate cash flow data at a group level, improving visibility and control.
Trovata Founder and CEO Brett Turner said today’s finance and treasury teams are expected to do more than ever. And all while navigating smaller budgets and fewer resources.
Turner said: “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,”
