Goldman Sachs and Modern Treasury partner for embedded payments initiative
Modern Treasury and Goldman Sachs Transaction Banking (TxB) have teamed up “to accelerate the shift to embedded payments”, the two companies say.
Modern Treasury’s flagship Payment Operations platform will provide mutual clients with an integrated money movement solution, with payments powered by TxB.
“Modern money movement is software driven,” comments Dimitri Dadiomov, Modern Treasury CEO and co-founder. “Goldman Sachs understands software developers.”
The companies have jointly served clients since late last year. Going forward, product teams from both companies have committed to a mutual product roadmap to address new client needs, tighten the integration and offer mutual clients a unified product experience.
“We’re delighted to work with Goldman Sachs and Modern Treasury to better serve our investors and business partners,” says Nigel Glenday, chief financial officer at Masterworks, an art investment platform and client of TxB.
He comments that the company’s “payment operations now support timely reconciliation of investor payments, irrespective of payment methods, and an integrated workflow to identify and resolve payment exceptions as they arise”.
Modern Treasury and Goldman Sachs have collaborated on a solution to expedite clients’ time to onboard. In addition, clients can open virtual accounts, leverage wire drawdowns through the joint solution and access a range of services needed to support today’s high-growth companies.
Founded in 2018, San Francisco-based Modern Treasury is backed by Altimeter Capital, Benchmark and Y Combinator. Earlier this year, it raised $50 million in a Series C extension round.
Modern Treasury and Nacha are holding a free webinar on 25 October 2022 to discuss how companies and their bank partners can effectively manage risk and minimise fraud when making ACH payments. Click here to register!