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July 29, 2022

Workday Ventures invests in paytech company FinLync

Fintech firm FinLync has obtained an undisclosed strategic investment from Workday Ventures and tied up with the firm to facilitate real-time payments.

The company also joined the Workday Software Partner programme.

This alliance will see the payments fintech integrating with Workday Financial Management and supporting it with more than 100 pre-installed bank application programming interface (API) connections to banks worldwide.

For Workday Financial Management clients, this is expected to support real-time payments by addressing common treasury issues with complete payment tracking capability, easy connectivity, and instant cash visibility.

Workday Ventures managing director and head Mark Peek said: “We’re excited to have made a strategic investment in FinLync as we continue to identify new ways to deliver the best possible experience to our customers.

“Together, FinLync and Workday will deliver advancements that support real-time working capital and cost-savings, thereby reducing the time and effort for Workday Financial Management customers to integrate with banks.”

Last month, ex-Microsoft treasurer Tahreem Kampton became a member of FinLync’s Advisory Board.

FinLync co-founder and CTO Peter Klein said: “Core to this partnership is the shared belief that corporates who move to a model of real-time working capital across their payments, cash and treasury functions will be the market winners, and those who do not will be left behind.”

In May this year, FinLync teamed up with Deutsche Bank to provide quick access to real-time treasury for corporates using its pre-built API integrations and SAP-embedded treasury solutions.

With the collaboration, the company also aims to lower its information technology (IT) works and time required to connect treasurers to Deutsche Bank APIs.

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