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This announcement signals a notable shift in the competitive landscape of treasury technology, as a next-generation platform integrates enterprise-grade functionality to challenge longstanding industry norms.
Trovata, the multibank data platform focused on cash and liquidity management for corporations, has acquired ATOM, the enterprise Treasury Management System (TMS) developed by Financial Sciences Corporation. The acquisition brings together Trovata’s cloud-native architecture with ATOM’s suite of features intended to support corporate treasurer demands at global scale.
The platform now incorporates ATOM’s deep treasury capabilities, which include support for debt and investment instruments, intercompany transactions, in-house bank support, credit facilities, FX hedging, domestic and international payment workflows, bank fee analysis, and comprehensive bank account management.
Trovata positions its combined offering as a modern, viable alternative to legacy TMS providers, aiming to deliver scalability and flexibility for corporate finance professionals adapting to contemporary requirements.
In tandem with the acquisition, Trovata has announced a $9 million strategic extension to its Series B funding round, secured from new investors State Street Corporation and The PNC Financial Services Group, Inc. This follows more than $50 million previously raised from major financial institutions including J.P. Morgan, Wells Fargo, National Australia Bank, Capital One Ventures, and Mastercard, bringing the company’s total funding to $80 million.
Brett Turner, Founder and CEO of Trovata
Brett Turner, Founder and CEO of Trovata, said: “There hasn’t been a new TMS built in nearly three decades. We pioneered corporate banking APIs and the only true cloud-native treasury platform in the market with meaningful scale. Now, with ATOM, we have the firepower to compete directly with the legacy incumbents—and replace them. This isn’t just expansion. It’s a generational shift in treasury tech.”
Alf Newlin, Co-Founder and CEO of Financial Sciences
Alf Newlin, Co-Founder and CEO of Financial Sciences, added: “ATOM was built for complexity and designed to serve Fortune 500 treasury teams with global scale. Combining our comprehensive and battle-tested treasury system with Trovata’s platform architecture and bank distribution model creates a solution that’s both powerful and unmatched.”
Trovata’s core platform is based on a microservices architecture that is fully serverless, a distinguishing feature compared with legacy platforms that may be cloud-hosted but are not cloud-native. The infrastructure is designed for rapid deployment, rolling out in minutes and scalable for enterprises as well as via preferred banking partners.
The integrated platform leverages artificial intelligence and APIs, aiming to transform how companies manage cash, risk, and decision-making in treasury operations.
