Modern Treasury and Metropolitan Commercial Bank Partner to Provide Automated Payment Transactions for Entrepreneurial Firms
Customers will benefit from a more integrated and transparent experience when initiating, receiving, reconciling and approving payments
SAN FRANCISCO, November 09, 2021– (BUSINESS WIRE) – Modern Treasury, a provider of payment transactions software, and Metropolitan Commercial Bank (MCB), a leading bank focused on the most entrepreneurial platforms and markets, announced today a new integration for automated payment transactions that simplifies management of the entire money movement cycle.
Modern Treasury’s payment operations platform enables businesses to make and manage payments through a dashboard or application programming interface (API), track transactions in real time, and reconcile automatically cash on multiple MCB accounts.
“The pace of business is changing faster and our clients want solutions like Modern Treasury to get a fast and complete view of money movements,” said Nick Rosenberg, executive vice president and head of the Global Payments group at MCB. “We are delighted to build this partnership as we seek to provide our customers with quality global payment solutions in the marketplace.”
The Metropolitan Commercial Bank is an established leader in digital payments and keeps pace with the rapidly changing industry and trend towards digital currency services, mobile payment applications and whatever fintech is advancing in the market. .
“We are delighted to partner with Metropolitan Commercial Bank and bring new solutions to entrepreneurial clients in the United States,” said Dimitri Dadiomov, co-founder and CEO of Modern Treasury.
Adding virtual accounts to modern treasury means customers have greater visibility into payments on the go, where they came from and why, which helps streamline the reconciliation of incoming payments. The product strengthens Modern Treasury’s ability to enable businesses, neobanks, digital wallets and fintechs to transfer money with greater confidence.
Ronald Oliveira, CEO of Revolut, a mutual customer, adds: “Revolut is building the world’s first super financial app and MCB has played a vital role in enabling us to provide robust financial services to our growing customer base. We continuously strive to provide our clients with better financial services and look forward to doing so through MCB and its partnership with Modern Treasury. “
About the Modern Treasure
Modern Treasury provides payment transaction software for businesses, allowing teams to move and track money with confidence. Our tools automate the entire cycle of money movements, from payment initiation to approvals and reconciliation. Using Modern Treasury products, innovators are reinventing the way businesses are built, managed and scale. We are a catalyst for growth in the most important sectors of the economy, from real estate and healthcare to education and financial services. Founded in 2018, San Francisco-based Modern Treasury is backed by Altimeter Capital, Benchmark and Y Combinator. For more information, visit https://www.moderntreasury.com/.
About the Metropolitan Commercial Bank
Metropolitan Commercial Bank®, The Entrepreneurial Bank, is an established leader in digital payments and one of the fastest growing U.S. issuers of virtually all types of debit cards. Metropolitan Bank Holding Corp. (NYSE: MCB) is the holding company of the Metropolitan Commercial Bank. The Bank offers a wide range of business, commercial and retail banking products and services to small and medium-sized businesses, public entities and high net worth individuals in the New York metropolitan area. Founded in 1999, the Bank is headquartered in New York City and operates six branches in Manhattan, Brooklyn and Great Neck, Long Island. The Bank is also an active debit card issuer for third party debit card programs and provides critical global payments infrastructure to its fintech partners. The Bank is a New York State chartered commercial bank and a member bank of the Federal Reserve System with deposits insured up to applicable limits by the Federal Deposit Insurance Corporation and an Equal Lender. chances. For more information, please visit www.mcbankny.com
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