Through the partnership, Santander will market Trovata’s cash management platform to its banking clients as a way to modernize treasury workflows through data-driven automation.
The companies plan to collaborate to continuously improve cash visibility and cash flow insights to help their large corporate clients make better and faster business decisions.
Eva Bueno, managing director and global head of cash management for Banco Santander, said: “Santander’s commitment to innovation meets our clients’ need to evolve tools and adapt their processes to a changing environment … Trovata aggregates and transforms corporate banking data at scale and that automates much of the cash forecasting process, which will allow our clients to gain efficiency.”
Trovata CEO and Founder Brett Turner added “we’re excited to partner with Santander to expand outside the U.S. and deploy Trovata for the bank’s clients in key markets within Europe and Latin America.”
Across its banking operations, Santander has frequently partnered with FinTechs to deliver and develop new technologies.
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In July Santander Corporate and Investment Banking (CIB) entered into a new strategic partnership with SAP Spain, aiming to boost digitalization across Global Transaction Banking services by stimulating co-innovation.
Read on: Santander CIB, SAP Team to Digitize Transaction Banking
Specifically, the partnership is geared toward creating invisible banking solutions, improving client-to-bank connectivity and providing financial tools to help each firm’s clients navigate supply chain disruptions and accelerate the decarbonization of their industrial activities.
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