Earlier this week, Anis Rahal, CEO of treasury management company TreasuryXpress, told PYMNTS that the API has potential to disrupt the treasury management solutions space. Now, the company is acting on that belief.
Reports Wednesday (March 22) said TreasuryXpress has launched its API, Payment+. The solution will be offered in the TreasuryXpress store and supports the creation of payment files from existing ERP or treasury management systems ready to be sent to the bank. The API converts system data into payments under the ISO 20022 messaging format.
“The API is the future of treasury,” Rahal said in a statement. “Corporate treasurers have long struggled with trying to solve basic yet imperative challenges with expensive TMS solutions that take a long time to implement and do not always provide a full solution. By delivering critical treasury capabilities via affordable APIs, treasurers can get exactly what they need without having to pay a fortune for it and without having to wait through lengthy implementation.”
The executive echoed this sentiment in his discussion with PYMNTS, in which he highlighted the need for a pick-and-choose approach to treasury tools and unbundle the services available to corporate treasurers today.
TreasuryXpress’ API can be used by other ERP, TMS or payment providers to facilitate bank transactions, the company noted.
“Our goal is to make the treasurer’s job easier, to keep our clients’ needs first,” Rahal added in a statement. “We want to cooperate with ERP and TMS solutions because this is what will benefit treasury.”