New

Our landmark annual report is here.Read the State of Payment Operations 2022

How to Minimize Faster Payments Fraud

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Rachel MindellMarketing
November 30, 2022

The possibilities that faster payments open up are exciting not just for business leaders, but fraudsters as well. In this journal, you’ll learn what makes faster payments fraud tricky and how companies can minimize their risk.


Announcing Compliance Decision Feedback and Compliance Insights

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Pranav DeshpandePMM
November 29, 2022

We’re excited to announce that our Compliance product now supports Decision Feedback and Insights to further streamline how compliance teams manage and monitor their daily operations.


Payments Primers

How Do Faster Payments Work?

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Sarah SpeightsMarketing
November 23, 2022

The payments landscape continues to shift towards speedier, more convenient options. In this journal, we explore how faster payments work in the US.


How to Scale a Ledger, Part II

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Matt McNierneyEngineering
November 17, 2022

In this second part of the series, we'll look at what it means for a ledger to be immutable and double-entry at the source of financial events.

Payments Primers

Interoperability Between RTP and FedNow

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Sarah SpeightsMarketing
November 16, 2022

RTP and FedNow have a lot in common, but they are not the same payment rail. In this journal, we discuss how the two systems can achieve interoperability.


How to Verify Prior Ledger States

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Eve LiEngineering
November 11, 2022

In this guide, we walk through how to verify prior ledger states by finding the historical changes to a ledger.


How to Scale a Ledger, Part I

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Matt McNierneyEngineering
November 10, 2022

In the first part of this series, we’re looking at why any company that moves money at scale should have a ledger database as a single source of truth.


Is Your Business Ready for Faster Payments?

Image of Rachel Mindell
Rachel MindellMarketing
November 9, 2022

If only the preparation for instant payments were as delightful as the end-user experience. Alas, readiness for faster payments requires more than a click or two. This journal shares four facets of good planning for real-time payment rails like RTP and FedNow.


The Evolution of Virtual Accounts at Modern Treasury

Image of Aaron Chen
Aaron ChenSoftware Engineer
November 4, 2022

Modern Treasury supports extended functionality for virtual accounts. For each virtual account, you can now track balances, retrieve a list of transactions, and originate payments directly.


Why Use a Managed Ledger

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Lucas RochaPMM
November 3, 2022

In this article, we discuss the benefits and drawbacks of using an external ledger service.


Why Faster Payment Rails Are Game Changing for US Payments

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Rachel MindellMarketing
November 2, 2022

Faster payment rails like RTP and FedNow are about to remake domestic money movement. This journal explores how faster payments are different and what the near future could look like.


Mapping Your Card Program’s Fund Flows: A Conversation with Lithic

Image of Rachel Mindell
Rachel MindellMarketing
November 1, 2022

Managing fund flows and ledgers for card programs can be tricky. Here are four takeaways from a recent webinar with Lithic focused on the fundamentals.


Payments Primers

Building and Scaling a Ledger: Our Interview with Tom Taubkin

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Lucas RochaPMM
October 26, 2022

Recently, we sat down with CEO and Founder of Boosted Technologies, Tom Taubkin, to discuss the challenges and best practices for building and scaling a ledger database. This is what he had to say.


Guides

Accounting for Developers Part III: Building a Lending Marketplace

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Lucas RochaPMM
October 20, 2022

In this follow-up to our accounting for developers series, we explore the ins and outs of building a ledger to power a lending marketplace product.


Payments Primers

Best Practices for Payment Operations

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Justin RamosMarketing
October 19, 2022

In this journal, we look at best practices for managing payment operations, namely, building a payments ecosystem to enable transactions and building out the back office to manage the complexities of high volume payments.


Why Payment Operations Should Be Part of Your Fintech Stack

Image of Rachel Mindell
Rachel MindellMarketing
October 18, 2022

Payment operations are central to an efficient, modern fintech stack. Read more about the business challenges and opportunities money movement technology presents.


Behind The Scenes

Welcoming Our Head of Growth

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Laura LevyGrowth
October 14, 2022

This summer, Laura Levy, our new Head of Growth, joined the team. In this Behind the Scenes journal, she shares the career journey that led her to Modern Treasury.


By The Numbers

The State of Payment Operations in 2022

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Dimitri DadiomovCEO
October 11, 2022

Our second annual payment operations report is overflowing with notable data about the state of money movement. Read on for key takeaways and a peek at the numbers for 2022.


Guides

How Companies Launching Card Programs Use Modern Treasury

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Lucas Rocha and Sarah SpeightsMarketing
October 6, 2022

When starting a card program for your business, there are a lot of factors to consider. This journal digs into how Modern Treasury streamlines the process.


Payments Primers

Real-Time Payments, A Generational Shift

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Chris FrakesMarketing
October 5, 2022

RTP has launched, and FedNow is on the horizon; faster payments in the US are becoming a reality and changing the way we think about money movement.


Payments Primers

The Cost of Payment Operations

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Rachel MindellMarketing
September 28, 2022

What is the cost of payment operations and why do the right investments matter? Read on to learn more.


Changelog

Announcing Intra-Bank Payments

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Justin RamosMarketing
September 27, 2022

Today, we're launching Intra-Bank Payments, allowing customers to process payments without using interbank payment networks when they bank at the same financial institution.


Payments Primers

Payment Operations Are Not Just for Fintechs

Image of Sarah Speights
Sarah SpeightsMarketing
September 21, 2022

Every business has some sort of payment operations workflow in place. As more businesses embed payments into their products, the need for better, automated payment operations is growing beyond fintech.


Behind The Scenes

FedNow is Our Chance at Real-Time Payments: A Conversation with Sam Aarons

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Chris FrakesMarketing
September 19, 2022

Our Co-founder and CTO, Sam Aarons, was on a FedNow steering committee. In our conversation, he shares why its launch next year is so significant and why he’s excited about it.


Behind The Scenes

Announcing Our Partnership With Goldman Sachs Transaction Banking

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Dimitri DadiomovCEO
September 15, 2022

Today we’re excited to announce Modern Treasury’s partnership with Goldman Sachs Transaction Banking (TxB).


Payments Primers

Money Movement Matters: A Case for Payment Operations

Image of Rachel Mindell
Rachel MindellMarketing
September 13, 2022

Payment operations are the workflows surrounding money movement. This journal digs into the nuances and evolving significance of effective payments technology.


Changelog

Announcing Multi-Currency Support for Ledgers

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Stepan StrijakovEngineering
September 8, 2022

Ledgers can now hold accounts with multiple currencies, and a single ledger transaction can span many currencies.


Payments Primers

A Short History of Ledgers

Image of Rachel Mindell
Rachel MindellMarketing
September 7, 2022

The history of ledgers is more intriguing than you might think. This journal traces notable moments in the evolution of immutable, double-entry, and scalable ledgering.


Changelog

August Changelog

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Matt MarcusCPO
September 1, 2022

In August, we shipped several new updates including a new payment order create experience, a payment order timeline, ledger account categories, and more.


Payments Primers

8 Things to Know When Building a Compliance Program

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Rachel MindellMarketing
August 31, 2022

Building a compliance program can be tricky. This journal covers eight important questions related to financial compliance and fraud prevention.


Payments Primers

How and Why Homegrown Ledgers Break

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Lucas Rocha and Sarah SpeightsMarketing
August 30, 2022

Companies that move money at scale need a ledgering system that can flex with them, and often homegrown ledgers cannot keep up with the needs of scaling. This journal looks at why, and the alternative solutions for fixing a "broken" ledger.


Guides

Accounting For Developers, Part II

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Lucas RochaPMM
August 24, 2022

In this second part of our two-part series, we build a ledger for a Venmo clone by applying the accounting principles we learned in Part I.


Payments Primers

A Checklist for Bank Due Diligence

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Pranav DeshpandePMM
August 23, 2022

Any company that wants to work directly with a bank must successfully complete the bank due diligence process. This Journal provides an actionable checklist for companies preparing for this process with a bank partner.


By The Numbers

Key Differences Between ACH and Cards

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Rachel MindellMarketing
August 18, 2022

Understanding the differences between ACH and card payments is a strategic necessity for businesses looking to scale. This journal digs into key distinctions and selection criteria for making the best choice.


Guides

Accounting For Developers, Part I

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Lucas RochaPMM
August 17, 2022

In this first part of a two-part series, we walk through basic accounting principles for anyone building products that move and track money.


Payments Primers

How to Think About Ledger Balances

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Kevin KrierSales Engineering
August 16, 2022

We recently shipped three new features that let you build a better Ledger faster: Available Balances, Balance Aggregation, and Ledger Accounting Categories. This journal details the benefits of each.


Behind The Scenes

Shifting Our API's Pagination Method: From Offset to Cursor-Based

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Carly SteckelProduct
August 15, 2022

Earlier this month, we migrated from offset pagination to cursor-based pagination for our API. In this journal, we walk through the basics of these methods of pagination and why we’re making this switch.


Customer Spotlight

Customer Spotlight: Manufactured

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Justin RamosMarketing
August 12, 2022

Modern Treasury customer, Manufactured, is streamlining manufacturing solutions for consumer brands. They partnered with Modern Treasury—integrated with JPMorgan Chase Bank—to build their scalable, cross-border payments solution.


Payments Primers

What are Third-Party Payments and Why Do They Matter?

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Zachary GardnerPMM
August 10, 2022

As more companies are embedding payments into their products, payment flows are changing. More than traditional accounts payable and receivable, or first-party payments, there are now third-party payments, where businesses move money on behalf of customers. This post looks at these two payment flows and why they matter.


By The Numbers

Don't Leave Money on the Table: Why Banks Should Partner with Fintechs

Image of Oleg (Alec) Valiev
Oleg (Alec) ValievPartnerships
August 9, 2022

As fintech continues to create value through expanded access to financial services, banks have the opportunity to partner to provide better product support and customer experiences.


Changelog

Announcing Support for Cross River

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Joe HakoopianEngineering
August 5, 2022

We now support customers of Cross River to send and reconcile ACH transactions, with support for additional payment rails.


Behind The Scenes

Expanding Our Partnership with BankProv

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Nora HirshmanBank Partnerships
August 4, 2022

We're excited to expand our partnership with BankProv to include support for their payments and banking APIs.


Guides

Guide to Partnering with a Bank

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Zachary GardnerPMM
August 3, 2022

In this guide, we outline key considerations for customers who are thinking about partnering with a bank, including whether to sit in the flow of funds, how to select a bank partner, and what goes into establishing a banking relationship.


Behind The Scenes

Three Key Learnings from the Alternative Financing Panel

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Ben RathiPMM
August 2, 2022

On Thursday, along with Rutter, we hosted a discussion to learn about alternatives financing. Here are three key learnings from our panel.


Guides

How to Handle Concurrent Transactions

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Carly SteckelProduct
August 2, 2022

To prevent a double-spend situation, your ledger needs to be able to record transactions that are conditional on the state of an account balance or account. The Ledgers API now supports account balance locking to make it even easier to handle concurrency in your ledger.


Changelog

June/July Changelog

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Matt MarcusCPO
August 1, 2022

In June and July, we shipped features such as historical balance reports, a banking holiday banner on the web app, and more.


Changelog

Announcing the Compliance Sandbox

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Pranav DeshpandePMM
July 22, 2022

We’re excited to announce that Compliance is now available in Sandbox mode.


By The Numbers

How Modern Treasury Can Support Banks

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Zachary GardnerPMM
July 21, 2022

With the internet providing increasingly new ways to distribute and interact with financial products, the banking industry is losing ground to new fintech entrants. Modern Treasury can provide the software to help banks compete. In this journal, we take a look at the opportunity that exists for us to work better together.


Payments Primers

Software is Changing Payments and Banks Should Care

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Zachary GardnerPMM
July 19, 2022

Software-integrated payments are fast-becoming the new normal. In this journal, we look at how software infiltrated the payments space, how it enables better experiences, and why this matters.


Payments Primers

What are the Costs of Sitting Inside or Outside the Flow of Funds?

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Ryan JacksonProduct
July 14, 2022

Whether a business chooses to sit in the flow of funds depends on a number of factors. This journal looks at the cost implications of being inside or outside the flow of funds.


Behind The Scenes

How Modern Treasury Onboards a New Bank Partner

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Nick ThompsonBank Partnerships
July 12, 2022

When Modern Treasury onboards a new bank partner, we are building a relationship—with both the people and the software—to the financial institution used by our customers. This journal looks at the consideration and work that goes into establishing a bank partnership.


Payments Primers

Four Questions to Consider When Designing a Marketplace Solution

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Rebecca SuMarketing
July 7, 2022

When building a marketplace solution, there are many considerations for how to structure payments to streamline operations. This journal looks at four questions to keep in mind when designing marketplace payment flows.


Behind The Scenes

Better Together: Our Approach to Bank Partnerships

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Nick ThompsonBank Partnerships
July 6, 2022

Bank partnerships are a core part of our offering. This journal looks at the mutual benefits of the partnership between banks and Modern Treasury.


Behind The Scenes

Edge Cases in Complex Payment Operations

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Sam AaronsCTO
July 1, 2022

Payment operations is complicated. Technical challenges can arise for myriad reasons. This journal details one edge case that we dealt with recently, how we responded, and what we're doing to ensure it doesn't happen again.


Behind The Scenes

What We Learned at Smarter Faster Payments 2022

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Pranav DeshpandePMM
June 30, 2022

Earlier this month, we sponsored and attended Nacha's Smarter Faster Payments conference in Nashville. This journal takes a retrospective look at our time at the event and highlights our key takeaways.


Payments Primers

How Risky is Sitting in the Flow of Funds?

Image of Ryan Jackson
Ryan JacksonProduct
June 29, 2022

When a business sits “in” the flow of funds, it means that money will, at some point, pass through the business’ bank account. This primer digs into funds flow models and the risks and benefits associated with sitting in the flow of funds.


Payments Primers

Why Marketplaces Should Sit in the Flow of Funds

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Rebecca SuMarketing
June 29, 2022

Modern marketplaces need to consider how to design payment flows to move money between buyers and sellers. In this journal, we outline why it can be beneficial for the marketplace to be directly in the flow of funds.


Behind The Scenes

Key Learnings from our Compliance Panel with Nacha

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Sarah SpeightsMarketing
June 27, 2022

Earlier this month, we co-hosted a panel with Nacha about how to mitigate fraud on the ACH network. This journal details some of the key findings from that conversation.


Changelog

April/May Changelog

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Matt MarcusCPO
June 20, 2022

In April and May, in addition to our new Compliance product, we shipped several new updates including ledger dashboard improvements, exporting payment approval queues and bulk imports, and more.


Changelog

Additional Support for Signature Bank

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Ariel GermanEngineering
June 20, 2022

We have expanded our integration with Signature Bank to support incoming and outgoing ACH payments.


Behind The Scenes

Three Key Learnings From Our Crypto + Banking Panel

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Ben RathiPMM
June 15, 2022

On Monday, we co-hosted a panel with Plaid about how crypto companies partner with banks. We talked to Silvergate Bank, Signature Bank, and BankProv about the benefits of working with banks, onboarding, and intrabank settlement networks.


Customer Spotlight

Customer Spotlight: C2FO

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Pranav DeshpandePMM
June 14, 2022

Today, Modern Treasury customer, C2FO, announced their new CashFlow+ Card. They chose to manage the payment operations of their new card with Modern Treasury's Payments and Ledgers products.


Payments Primers

What to Expect with a Payment's “Effective Date”

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Matt McFarlandEngineering
June 9, 2022

Modern Treasury uses a field called "Effective Date" to represent the date of a payment. This journal takes a look at payment timelines and why the Effective Date does not mean date of transmission.


Payments Primers

What Happens When You ACH a 'Debit Blocked' Account?

Image of Sarah Speights
Sarah SpeightsMarketing
May 20, 2022

Nacha has over 80 codes for ACH returns. In this primer, we look at the ACH return that happens if you debit a blocked account and other common ACH return codes.


Changelog

Announcing Push to Data Warehouse

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Jason JongEngineering
May 13, 2022

Today we're launching early access to our Push to Data Warehouse feature: connect your data warehouse, and receive up-to-date Modern Treasury data every 15 minutes.


By The Numbers

How Tech Forward Banks Made Nacha’s Top 50 Originators List

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Zachary GardnerPMM
May 12, 2022

Last month, Nacha released their top 50 ACH Originators, which included some surprisingly small financial institutions. In this By The Numbers journal, we dig into how tech forward banks are pursuing new strategies for revenue growth, enabling them to compete with bigger banks.


Payments Primers

How To Send an ACH Payment Internationally

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Svapnil AnkolkarEngineering
May 11, 2022

Sending money internationally can be complicated. This post explains how to use ACH rails to send money abroad, using the International ACH Transaction (IAT) specification and the FedGlobal ACH program.


Changelog

Add Bank of Montreal Support

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Omkar MogheEngineering
May 10, 2022

We now support customers of Bank of Montreal moving money via US and Canadian payment methods.


Behind The Scenes

Why We Built Compliance

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Eric GreensteinProduct
May 4, 2022

On Monday, we announced our Compliance product to make it easier for companies to build and manage compliance and fraud programs. In this BTS Journal, we share why we built it.


Changelog

Announcing Our New Compliance Product

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Eric GreensteinProduct
May 2, 2022

Today we’re pleased to announce the early access release of Modern Treasury Compliance, an Anti-Money Laundering (AML) compliance and fraud detection product.


Behind The Scenes

Welcoming Our Head of Marketing and Communications

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Julie Mullins Head of Marketing
April 29, 2022

In this Behind the Scenes, Julie Mullins, our new head of marketing, discusses her experience in category creation and shares what brought her to Modern Treasury.


Behind The Scenes

Welcoming Our Head of Brand

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Frank ChimeroHead of Brand
April 29, 2022

Frank Chimero, our new Head of Brand, shares his thoughts about the changing nature of money and how that brought him to Modern Treasury.


Payments Primers

How Do Core Banking Systems Work?

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Jamie ElkinsGrowth Engineering
April 28, 2022

Core banking systems revolutionized the way we manage money. In this Payments Primer, we dig into how they work and how they compare to modern day payment solutions.


Guides

Managing Embedded Payments with an Application Ledger

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Lucas RochaPMM
April 25, 2022

In this Guide, we discuss how companies that facilitate payments of any kind can use a ledgering database to track balances and transactions at scale.


Payments Primers

What is the Difference Between Fiat and Cryptocurrency?

Image of Eli Dukes
Eli DukesPayments Advisor
April 20, 2022

Cryptocurrency is rising in popularity and becoming more mainstream. In this post, we dig into the differences between cryptocurrency and fiat money.


Guides

Managing Programmatic Payouts with an Application Ledger

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Lucas RochaPMM
April 14, 2022

A look at how you can use an application ledger to keep track of balances and transactions on your platform and build programmatic, instant payouts.


Guides

Best Practices for Setting up a Robust Approvals System

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Dani WeichCustomer Success
April 13, 2022

Businesses seeking to optimize their payments operation strategy need a robust approvals system. This guide walks through what to consider when creating one.


Changelog

March Changelog

Image of Matt Marcus
Matt MarcusCPO
April 7, 2022

This March, we shipped several new updates including added support for customers at Wintrust Bank, custom table columns, bulk import views, and more.


Behind The Scenes

A Streamlined Approach to Payments: How CEO of Ancestry, Deborah Liu, Revolutionized E-Commerce

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Shruthi MurthyEngineering
April 1, 2022

President & CEO of Ancestry, Deb Liu revolutionized e-commerce. In our Coffee Break discussion, Deb offers a framework for strengthening your payment operations.


Payments Primers

How Do Businesses Send and Receive Checks?

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Ariel GermanEngineering
March 31, 2022

Despite all the digital payment options, many businesses still rely heavily on paper checks. In this post, we walk you through what check processing is and how it works.


Behind The Scenes

Welcoming SVB Capital and Salesforce Ventures

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Dimitri DadiomovCEO
March 30, 2022

Today, we’re excited to announce the $50M second close of our Series C and welcome Salesforce Ventures and SVB Capital to the growing Modern Treasury family.


Guides

How Incoming Payment Details Work

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Ariel GermanEngineering
March 25, 2022

We have tools to make managing your financial transactions simple and straightforward. One of those tools is our notification of the details of an incoming payment. 


Behind The Scenes

5 Lessons in Leadership: A Conversation with VP of Client Success at Indeed, Diane Melchionne

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Preet NarisettyCustomer Success
March 21, 2022

Recently, we hosted a Coffee Break with Indeed’s VP of Client Success for the Americas region. Here's 5 lessons in leadership she shared with us during our conversation.


Payments Primers

The Difference Between Settlement and Clearing and Why it Matters to Banks

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Sam AaronsCTO
March 17, 2022

Settlement and clearing systems are an important component of modern payment operations. In this post, we walk you through the important distinction between the two.


Payments Primers

What are Interchange Fees and How do They Work?

Image of Zachary Gardner
Zachary GardnerPMM
March 14, 2022

In April, Visa and Mastercard will raise interchange fees – the fees set by the networks to determine how much merchants must pay to accept consumer cards.


Behind The Scenes

Network Security at Modern Treasury

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James Lim Engineering
March 10, 2022

Security is a priority for our customers and key feature of our products. Here are recent examples of our continuing approach to delivering on hardened network security.


Changelog

Add Virtual Accounts and ProvXchange Support at BankProv

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Omkar MogheEngineering
March 7, 2022

We have now added support for Virtual Accounts for Wires at BankProv. We have also added support for ProvXchange at BankProv.


Changelog

Add Virtual Accounts Support at Silvergate

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Omkar MogheEngineering
March 7, 2022

We have now added support for Virtual Accounts for Wires at Silvergate Bank.


Changelog

February Changelog

Image of Matt Marcus
Matt MarcusCPO
March 7, 2022

This February, we worked on several projects to create more features and enhance our product offerings. Here is what shipped in the last month.


Payments Primers

Why Chargebacks Look Different Depending on the Payment Rail

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Gail BlachlyCustomer Success
March 4, 2022

Most consumers are familiar with chargebacks as they happen with credit cards. This post will help you understand chargebacks across different payment rails.


Behind The Scenes

Changes to the SWIFT Network

Image of Nick Farrow
Nick FarrowBank Partnerships
March 2, 2022

SWIFT is making headlines due to the ongoing Russia-Ukraine conflict. This post explains what SWIFT is and what changes are currently taking place.


Behind The Scenes

Announcing NACHA Preferred Partner Program

Image of Rachel Pike
Rachel PikeCOO
March 1, 2022

Modern Treasury’s selection to join NACHA’s Preferred Partner Program endorses our endeavors to support the ACH network and continue as the leader of payment operations.


By The Numbers

How Do Interbank Settlement Networks Work?

Image of Sam Aarons
Sam AaronsCTO
February 22, 2022

In this post, we explore how interbank settlements work, why they are used, and what happens to transactions at cutoff or if there is a system outage.


Payments Primers

What is the Difference Between ACH Returns and Reversals?

Image of Gail Blachly
Gail BlachlyCustomer Success
February 20, 2022

It can be difficult to understand the difference between ACH returns and reversals. This post digs into similarities and differences between each.


By The Numbers

Why Do Banks Impose Cutoffs?

Image of Connor Lanman
Connor LanmanHead of Payments Product
February 18, 2022

In this By the Numbers Journal, we provide a definition of cutoff times, explain why they’re crucial, and explore how they might affect business money movement.


Payments Primers

How to Set Up Payments for Your Startup

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Sean BoltonEngineering
February 16, 2022

Startups depend on the function of money movement and how well it can scale up with the business. The process of setting up payments begins with a few key steps.


Guides

The Ledger Transaction Status

Image of Koji Murase
Koji Murase Product
February 10, 2022

It can be challenging to differentiate between money that’s in flight and settled. Ledger transactions have a status field that can help with this.


Behind The Scenes

Welcoming Our Head of Customer Success

Image of Preet Narisetty
Preet NarisettyCustomer Success
February 9, 2022

Preet Narisetty joined the team as Head of Customer Success, and in this Behind the Scenes journal he shares his story and reasons for joining Modern Treasury.


Behind The Scenes

Welcoming Our Head of Engineering

Image of Shruthi Murthy
Shruthi MurthyEngineering
February 8, 2022

Last month, Shruthi Murthy joined the team as Head of Engineering, and in this Behind the Scenes journal she describes what drew her to Modern Treasury.


Behind The Scenes

Welcoming Our Head of Legal

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Derek SchwedeHead of Legal
February 8, 2022

Last month, Derek Schwede joined the team as Head of Legal, and in this Behind the Scenes journal he dives into what led him to Modern Treasury.


Changelog

January Changelog

Image of Matt Marcus
Matt MarcusCPO
February 1, 2022

This month we shipped new updates including failed payment order notifications, duplicate payment order detection, and a dedicated dashboard for external accounts.


Payments Primers

New NACHA Rule: Nested Third Party Sender

Image of Matt McFarland
Matt McFarlandEngineering
January 27, 2022

On September 30th, NACHA is instituting a new rule that will address third-party senders that are direct customers of other TPSs and provides requirements for when a TPS must conduct a risk assessment.


Guides

How Insurance Companies Use Modern Treasury

Image of Rebecca Su
Rebecca SuMarketing
January 13, 2022

Managing payment flows within an insurance company can be difficult. In this article, we share how insurance companies can use Modern Treasury to help with three common payment operations challenges.


Payments Primers

What's the Difference Between a Financial Ledger Database and a General Ledger?

Image of Koji Murase
Koji Murase Product
January 6, 2022

It can be hard to understand the difference between general ledger software and a financial ledger database. This post explains each system and when your company might need one or the other.


Changelog

December Changelog

Image of Matt Marcus
Matt MarcusCPO
January 5, 2022

This month we shipped new updates including support for creating internal bank accounts in the sandbox, the ability to view incoming payment details and link reversals to ledger transactions.


Changelog

Add HSBC Support

Image of Sam Aarons
Sam AaronsCTO
January 5, 2022

We have now added support for HSBC customers in the United Kingdom.


Behind The Scenes

Our Top Reads of 2021

Image of Chris Frakes
Chris FrakesMarketing
December 22, 2021

Modern Treasury’s favorite posts and podcasts of 2021.


Guides

Enforcing Immutability in your Double-Entry Ledger

Image of Jason Jong
Jason JongEngineering
December 14, 2021

Immutability is one of three core principles to adhere to good engineering and accounting principles.


Payments Primers

Three Questions to Consider When Setting Up Ledgers

Image of Ally Kanning Gross
Ally Kanning GrossCustomer Success
December 8, 2021

For those considering using Ledgers to build a reliable transaction database, this journal discusses the 3 most common questions existing customers have asked.


Changelog

November Changelog

Image of Matt Marcus
Matt MarcusCPO
December 1, 2021

This month we shipped new updates including improved bulk imports, support to filter by return type, and naming approval rules.


Behind The Scenes

Opening the San Francisco Office

Image of Rachel Pike
Rachel PikeCOO
November 24, 2021

This September, we opened our San Francisco office, a milestone moment on the journey to building a company.


Behind The Scenes

Key Learnings from our Panel Discussion with SVB and Settle

Image of Juan Santa Cruz
Juan Santa CruzCRO
November 19, 2021

With SVB and Settle, we participated in a panel about Scaling Payment Operations. This journal digs into some key points from the discussion from what payment operations are to how to evaluate a payments solution.


By The Numbers

The State of Payment Operations in 2021

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
November 16, 2021

This year, we conducted the first State of Payment Operations survey. This By The Numbers journal talks through some of the key survey points and the case for modernizing payment ops.


Behind The Scenes

The Making of Our First Brand Video

Image of Chris Frakes
Chris FrakesMarketing
November 12, 2021

Last month, Modern Treasury unveiled our first brand video. This Behind the Scenes journal digs into how we made it, from pre-production to post.


Behind The Scenes

Why We Built Ledgers

Image of Duncan Graham
Duncan GrahamHead of Design
November 8, 2021

We recently announced Ledgers, our new product that helps businesses manage their books. Here's the story behind why we built it.


Changelog

Announcing Support for Signet Network

Image of Omkar Moghe
Omkar MogheEngineering
November 5, 2021

Modern Treasury has added wallet support to our Internal and External accounts to allow customers to view transactions, balances, and originate payments on the wallet’s network.


Changelog

October Changelog

Image of Matt Marcus
Matt MarcusCPO
November 1, 2021

This month we shipped new updates including bulk imports for expected payments, a currency filter for payment orders, and linking ledger transactions to expected payments.


Behind The Scenes

How We Built Virtual Accounts

Image of Matt McFarland
Matt McFarlandEngineering
October 28, 2021

On Tuesday, we announced Virtual Accounts, our new product that helps automate payment attribution. Here's the story behind how we built it.


Changelog

Announcing Virtual Accounts

Image of Ani Narayan
Ani NarayanProduct
October 26, 2021

Today we're excited to announce the launch of Virtual Accounts, which helps businesses automate how payments are attributed and reconciled.


Behind The Scenes

Expanding our Partnership with Plaid

Image of Pranav Deshpande
Pranav DeshpandePMM
October 21, 2021

We’re excited to share that Modern Treasury is joining the Plaid Payment Partner Ecosystem.


Guides

Automating Payouts: How to Evaluate Payments Solutions

Image of Pranav Deshpande
Pranav DeshpandePMM
October 14, 2021

Businesses that move money eventually need a solution for how to handle payouts for their products and services. In this guide, we’ll describe the key factors to consider when choosing a payments solution for automatic payouts at scale.


Behind The Scenes

Announcing Our Series C

Image of Sam, Dimitri, and Matt
Sam, Dimitri, and MattCo-Founders
October 6, 2021

Today, we’re excited to share that we’ve reached another milestone on the road to building an enduring and valuable company: we raised an $85M Series C. The new financing values the company at over $2B.


Changelog

September Changelog

Image of Matt Marcus
Matt MarcusCPO
October 4, 2021

This month we shipped new updates including support for check processing in the sandbox, linking ledger transactions and incoming payment details, and a beta version of reporting.


Payments Primers

How do Money Transmission Laws Work?

Image of Pranav Deshpande
Pranav DeshpandePMM
September 28, 2021

This is an overview of current laws for money transmission, the rationale behind them, and regulations and exemptions to needing a money transmitter license in the US.


Changelog

August Changelog

Image of Matt Marcus
Matt MarcusCPO
September 1, 2021

This month we shipped new updates including support for testing failed payments in the sandbox, search capability for "other" payment types, and virtual accounts for Wells Fargo.


Changelog

Add BankProv Support

Image of Sean Bolton
Sean BoltonEngineering
August 30, 2021

Modern Treasury has now added support for customers of BankProv.


Guides

How Neobanks Can Use Virtual Accounts

Image of Aaron Chen
Aaron ChenSoftware Engineer
August 18, 2021

A virtual account doesn’t hold any funds, despite having a unique account number and can perform payments as physical accounts. They can be a popular solution for neobanks to scale payment operations and manage large transaction amounts.


Behind The Scenes

Designing the Ledgers API with Optimistic Locking

Image of Andy Qin
Andy QinEngineering
August 15, 2021

Optimistic Locking is a control method that assumes multiple transactions can complete concurrently without conflict. We built our ledgers API with concurrency control semantics to better manage transaction volume.


Payments Primers

Why are Lockboxes Still Popular?

Image of Chris Frakes
Chris FrakesMarketing
August 5, 2021

Despite the availability of electronic payments, paper checks remain a popular payment method. This primer details why lockboxes remain a beneficial way of managing paper checks for businesses.


Changelog

July Changelog

Image of Matt Marcus
Matt MarcusCPO
August 2, 2021

This month we shipped several new updates including permissioning updates for better risk control, RTP automatic payment retries, and sandbox testing for processing originated returns.


Guides

How Marketplaces Use Modern Treasury

Image of Lucas Rocha
Lucas RochaPMM
July 29, 2021

Marketplaces are a growing industry, and their payment operations can get increasingly complex. This guide explores the ways Modern Treasury can help streamline processes for all types of marketplaces as they scale.


Behind The Scenes

Modern Treasury on the Acquired Podcast

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
July 18, 2021

A few months ago we conducted a reverse interview with one of our favorite business podcasts: Acquired. Today, we’re excited to share it.


Guides

How Does Bank Onboarding Work?

Image of Etham Frenkel
Etham FrenkelBank Partnerships
July 12, 2021

The bank onboarding process can be long and confusing. In this guide, we hope to demystify the process and help you go live with your bank faster.


Changelog

Add MetaBank Support

Image of Omkar Moghe
Omkar MogheEngineering
July 9, 2021

Modern Treasury has now added support for customers of MetaBank.


Changelog

June Changelog

Image of Matt Marcus
Matt MarcusCPO
July 1, 2021

In June, we shipped several new updates on our dashboard, such as notifications for approval rule changes, configuration options for NetSuite integration, in-dashboard support for international accounts, and more.


Guides

When and How to Set Up an FBO Account

Image of Jenny Johnston
Jenny JohnstonBank Partnerships
June 29, 2021

An FBO account is a custodial account that lets a company manage funds on behalf of, or “for the benefit of” their users without assuming legal ownership of that account.


Changelog

Announcing Ledgers

Image of Andy Qin
Andy QinEngineering
June 14, 2021

Today we're excited to announce the launch of Ledgers, an immutable double-entry product ledger that makes it easy for businesses to record financial transactions.


Changelog

Adding Santander Bank Support

Image of Sam Aarons
Sam AaronsCTO
June 10, 2021

Modern Treasury has now added support for customers of Santander Bank.


Payments Primers

The Fastest Ways to Send a Payment

Image of Darien Carter
Darien CarterCustomer Success
June 9, 2021

When moving money, you have options when it comes to making fast payments. In this payments primer, we explore the fastest ways to make a domestic payment in the United States.


Payments Primers

Why Are Wire Transfers Expensive?

Image of Chris Frakes
Chris FrakesMarketing
June 3, 2021

Even though wire transfers are the most expensive payment type, they remain one of the most utilized payment methods. This primer explains what wire transfers are, wire payment timings, and what makes this method so costly.


Changelog

May Changelog

Image of Matt Marcus
Matt MarcusCPO
June 1, 2021

In May, we shipped several new updates on our dashboard, such as our new organization switcher for businesses who manage more than one organization, a new billing page to track all aspects of your account, and support for virtual accounts at Increase.


Payments Primers

Will RTP and FedNow Adoption Lead to Increased Payment Volume?

Image of Kameryn Tanita
Kameryn TanitaCustomer Success
May 20, 2021

The rise of newer and faster payment methods like RTP and FedNow will enable businesses to move and settle money more quickly, driving adoption. This journal explores whether the U.S. will see increased payment volumes as adoption grows across large and small financial institutions.


Behind The Scenes

Announcing Our Partnership with Silicon Valley Bank

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
May 13, 2021

We are excited to announce our first formal bank partnership with Silicon Valley Bank.


Changelog

Pausing Webhooks

Image of Omkar Moghe
Omkar MogheEngineering
May 6, 2021

We released a new feature that allows Modern Treasury customers to pause webhook endpoints while performing maintenance.


Guides

How to Build a Digital Wallet Product

Image of Pranav Deshpande
Pranav DeshpandePMM
April 29, 2021

Digital wallets are some of the most widely-used financial products today. This guide describes the bank and payments infrastructure underlying digital wallets and how you could build one using Modern Treasury.


Changelog

Add Bank of America Support

Image of Sam Aarons
Sam AaronsCTO
April 26, 2021

Modern Treasury has now added support for customers of Bank of America.


Behind The Scenes

Announcing Our First $1B Month

Image of Sam, Dimitri, and Matt
Sam, Dimitri, and MattCo-Founders
April 21, 2021

Today, we are excited to announce that Modern Treasury reconciled over $1B in payments for our customers last month, a compound monthly growth rate of 37%.


Changelog

Adding Global Payouts

Image of Andy Qin
Andy QinEngineering
April 19, 2021

We have added Global Payouts, enabling our customers to make multi-currency international payments through our API and web app.


Changelog

Routing Number API

Image of Ariel German
Ariel GermanEngineering
April 15, 2021

We've released a new feature that allows customers to verify routing numbers using a new API endpoint.


Payments Primers

Complying with Nacha’s New WEB Debit Rule

Image of Chris Frakes
Chris FrakesMarketing
April 8, 2021

On March 19, Nacha made effective a new rule which strengthens the requirements for originators of WEB debits. In an attempt to curtail fraud, the rule requires companies to validate new accounts. Though it won't be enforced for a year, it's important to know about the rule change so your company can remain compliant.


Changelog

Announcing Support for ACH Prenotes

Image of Sean Bolton
Sean BoltonEngineering
April 5, 2021

Modern Treasury now supports sending ACH prenotes as a way to validate account and routing information.


Payments Primers

What is Double-Entry Accounting?

Image of Darien Carter
Darien CarterCustomer Success
March 24, 2021

When maintaining your books, there are a number of accounting methods you can use to keep track of your company’s financial information. One of them is double-entry accounting. What is it, and when should it be used?


Payments Primers

What Happens When the Fed Goes Down?

Image of Jenny Johnston
Jenny JohnstonBank Partnerships
March 19, 2021

The Federal Reserve (“The Fed”) promotes the stability of the financial system, including playing an important role in maintaining the integrity of the US payments system. What happens when the FedACH, FedWire, and National Settlement Service are offline?


Changelog

Add Sutton Bank Support

Image of Sean Bolton
Sean BoltonEngineering
March 11, 2021

Modern Treasury has now added support for customers of Sutton Bank.


Changelog

Add ACH Reversals

Image of Sean Bolton
Sean BoltonEngineering
March 2, 2021

Today we’re happy to share that we’ve released a new ACH Reversals feature in our Payments product. ACH Reversals lets you reverse an ACH payment you initiated with the click of a button or an API call.


Payments Primers

A Beginner’s Guide to Payment Operations

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
February 20, 2021

Payment operations are the workflows that move money for companies, from payment initiation and processing approvals, to reconciliation and managing transaction issues.


Behind The Scenes

Bad Software and Expensive Mistakes

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
February 18, 2021

A story about a $900 million mistake, bad software, and good people. This case goes to the heart of why we started Modern Treasury.


Behind The Scenes

Reflecting on My Internship

Image of Nisha Pant
Nisha PantEngineering
February 16, 2021

These past five months, I’ve had the opportunity to intern at Modern Treasury and wanted to reflect on my experience here. 


Payments Primers

Why is Our Bank Asking About Compliance?

Image of Nick Farrow
Nick FarrowBank Partnerships
February 11, 2021

A regular source of frustration for startups who move money for customers is trying to understand the rules that banks impose on those clients they deem to be third party senders (TPS), or as banks call them, third party payment providers (TP3’s). A third party sender is a company that uses its own bank account to make or receive payments on behalf of its customers or users.


Changelog

Add Custom Processing Windows

Image of Nisha Pant
Nisha PantEngineering
February 1, 2021

We released a new feature that allows Modern Treasury customers to add custom processing windows in addition to our default processing windows for all supported payment types. 


Guides

How to Build an Escrow Product

Image of Andy Qin
Andy QinEngineering
January 21, 2021

Escrow is a payment setup where the payer sends funds to a third party rather than directly to the payee. If certain conditions are met, the third party routes the funds to the recipient; if not, the funds get returned to the sender. Escrow is particularly useful for high value payments because the payer can rely on the escrow provider as a responsible intermediary of the funds.


Behind The Scenes

Announcing Our Series B

Image of Sam, Dimitri, and Matt
Sam, Dimitri, and MattCo-Founders
January 12, 2021

There are many important moments along the journey of never-ending work it takes to build an enduring and valuable company. Today we’re excited to share that we’ve reached another stepping stone on that path: we raised a $38M Series B financing led by Altimeter Capital.


Behind The Scenes

Our Top Reads from 2020

Image of Rachel Pike
Rachel PikeCOO
December 30, 2020

2020 was a year like no other. To fill all that time at home, we consumed a lot of content. So what caught our eye in 2020? Here are our favorite posts from the year.


Guides

Which Bank Partner is Best for You?

Image of Pranav Deshpande
Pranav DeshpandePMM
December 10, 2020

Last week, we announced support for self-serve sign up. When signing up, customers can now pick between three options for bank connection: Instant Bank Partners, Supported Bank Partners and Custom Bank Partners. 


Changelog

Announcing the Instant Bank Partner Program

Image of Juan Santa Cruz
Juan Santa CruzCRO
December 3, 2020

Modern Treasury was founded with the goal of lowering the barriers for businesses to make and manage payments at scale. We provide every business access to payment operations solutions, and to better serve our clients, we decided to launch the Instant Bank Partners program.


Behind The Scenes

How We Built Self-Serve

Image of Ryan Jackson
Ryan JacksonProduct
December 2, 2020

Yesterday, we announced self-serve sign up, an easy and secure way to start moving money within minutes. Here's how we built it.


Changelog

Modern Treasury is Now Self-Serve

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
December 1, 2020

At Modern Treasury we help companies manage payments at scale and build payment flows into their products. Done right, we believe this can turn payments and treasury into a strategic advantage and unlock incredible new products and customer experiences. 


Guides

What is Automatic Reconciliation?

Image of Pranav Deshpande
Pranav DeshpandePMM
November 23, 2020

The process of tying a payment to a transaction is called reconciliation and it is essential for a business to understand how completed and in-progress transactions add up to the cash balance in its bank account. 


Payments Primers

How Do Banks Report Balances and Transactions?

Image of Darien Carter
Darien CarterCustomer Success
November 13, 2020

If you need to track the complete lifecycle of a payment from the time it is approved and sent to the bank, through completion, you need to reconcile it to a cash transaction. A bank statement is precisely what’s needed: a chronological list of credit and debit transactions with corresponding bank balances at any point in time. 


Changelog

October Changelog

Image of Matt Marcus
Matt MarcusCPO
November 5, 2020

In October, we shipped support for Signature Bank and added capabilities for collecting SSNs and EINs. We made a number of additional improvements to our platform that we are excited to share.


Changelog

Add Signature Bank Support

Image of Ariel German
Ariel GermanEngineering
October 23, 2020

Modern Treasury has now added support for customers of Signature Bank.


By The Numbers

Real Time Payments Around the World

Image of Rachel Pike
Rachel PikeCOO
October 22, 2020

As a category, moving money instantly is often called “faster payments.” Faster payments are defined by three attributes: speed (instant), availability (24x7x365), and confirmation (available to both sender and receiver immediately). And though we think of the United States as a global leader in innovation, when it comes to faster payments, we are lagging way behind.


Changelog

Add Support for Collecting SSNs and EINs

Image of Matt Marcus
Matt MarcusCPO
October 16, 2020

In order to pay many types of counterparties, businesses need to collect and track Social Security Numbers (SSN) or Employer Identification Numbers (EIN). This is required in cases where you need to file a tax document, such as a 1099, and can also support compliance and control processes inside your company.


Changelog

September Changelog

Image of Matt Marcus
Matt MarcusCPO
October 7, 2020

We’re excited to share some of the features that shipped this month at Modern Treasury. In addition to the Events product we shared earlier this month, we have improvements across our platform that benefit the entire payment process.


Guides

How Customer Support Teams Use Modern Treasury

Image of Juan Santa Cruz
Juan Santa CruzCRO
September 30, 2020

This is where two goals can sometimes come in conflict: responding to customer requests as fast as possible, and managing the financial controls around payments. So we’ve built tools for a customer support team to get access to the information they need while creating flexible controls to ensure a business is safe and protected.


Behind The Scenes

Fintech is Not New

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
September 24, 2020

There’s a myth going around now that fintech is a new industry, poised to take over, and that now that it’s here, every company will be a fintech company. In reality, though, fintech is just as old as "tech." For as long as engineers and entrepreneurs have been coming up with new technology amongst the hills of Cupertino and the orange groves of Mountain View, there have been fintech entrepreneurs right amongst them. And in many instances, the two groups have utilized the same technology advances to push the world forward. 


Payments Primers

What is Direct Transmission?‍

Image of Gail Blachly
Gail BlachlyCustomer Success
September 15, 2020

‍‍When evaluating options for payment processing, one option to consider is working directly with your bank. The term for this setup is called “direct transmission.”


Changelog

Events

Image of Julien Chien
Julien ChienEngineering
September 11, 2020

Events are how we model important state changes within the Modern Treasury system. When a state change event occurs, we create an Event object.


Behind The Scenes

Announcing Our First $100M Month

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
September 3, 2020

Today, we are excited to announce that Modern Treasury reconciled over $100 million in payments for our customers last month. This milestone comes after compound monthly growth of 25% since January.


Changelog

August Changelog

Image of Matt Marcus
Matt MarcusCPO
September 2, 2020

August has been another busy month for Modern Treasury. In addition to some of the bigger items we shipped like Permissioned API Keys, we’ve shipped a number of smaller features and improvements we’re excited to share.


Guides

How to Build a Fund Custodian

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
August 27, 2020

This post is a guide to the operational, money movement aspects of private investing. While the specifics of the investments and the horizon for repayment might vary widely, we hope that this guide is useful in simplifying and demystifying how a fund might automate some of its internal operations. 


Changelog

Permissioned API Keys

Image of Matt McFarland
Matt McFarlandEngineering
August 14, 2020

Modern Treasury now supports API access by user-managed keys.


By The Numbers

What Does INDN Mean?

Image of Matt Marcus
Matt MarcusCPO
August 11, 2020

Bank statements can be difficult to understand. We’ve previously written about bank statement descriptions and how they work. In this post, we will focus on a specific abbreviation, INDN, that you may see on your bank statement.


Behind The Scenes

The Promise of Continuous Accounting

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
August 7, 2020

In November, we released functionality that allows Modern Treasury to connect with general ledger systems in real-time and introduced it as a class of features called Continuous Accounting.


Changelog

July Changelog

Image of Matt Marcus
Matt MarcusCPO
July 31, 2020

You can now unmask and view account numbers on external accounts in Modern Treasury. Previously, it was impossible to view the account number for a counterparty’s external account. Our platform will automatically record an action on the audit trail every time an account number is viewed.


By The Numbers

What is the PCI of Bank Payments?

Image of Andy Qin
Andy QinEngineering
July 30, 2020

Credit card users today can transact online with peace of mind because card-accepting merchants are subject to Payment Card Industry Data Security Standard (PCI DSS). Security is also a concern for bank payments.


Payments Primers

What Are SWIFT Codes?

Image of Julien Chien
Julien ChienEngineering
July 28, 2020

Originally taking place over telegraph, the means of sending wire messages have been replaced: first by the telephone network, and then it in turn by the internet. Yet the core idea of how wire transfers work has remained the same.


Payments Primers

How RTP Works: A Look at ISO 20022

Image of Sam Aarons
Sam AaronsCTO
July 24, 2020

Among the many improvements that Real-Time Payments brings to the money transfer ecosystem, one of the most overlooked is its adherence to the global standard ISO 20022.


Guides

How to Manage Paper Checks Remotely

Image of Rachel Pike
Rachel PikeCOO
July 17, 2020

Many more of us are working from home right now, which means in-person processes are being taken online. For finance and accounting teams, one common in-person workflow is managing paper checks. There are two sides to check transactions: sending and receiving. Both can be automated. Let’s take them one by one.


By The Numbers

Why Idempotency Matters in Payments

Image of Matt Marcus
Matt MarcusCPO
July 9, 2020

At Modern Treasury, we place a strong emphasis on building systems that behave predictably and are resilient to failures. An important characteristic of these systems is that they are idempotent. In this article, we’ll explain what being idempotent means and why it is important for systems that handle payments like we do at Modern Treasury.


Behind The Scenes

How to Authenticate to NetSuite’s SuiteTalk REST Web Services API

Image of Ryan Jackson
Ryan JacksonProduct
July 1, 2020

Modern Treasury integrates with NetSuite to support our Continuous Accounting product. 


Behind The Scenes

Building One Integration to Multiple Ledgers

Image of Sean Bolton
Sean BoltonEngineering
June 30, 2020

Modern Treasury now supports syncing to both NetSuite and QuickBooks.


Changelog

June Changelog

Image of Stephane Young
Stephane YoungEngineering
June 30, 2020

We now support PacWest Bank and our Continuous Accounting platform integrates with NetSuite. Here are a few additional changes that we released.


Changelog

Introducing Netsuite to Continuous Accounting

Image of Ryan Jackson
Ryan JacksonProduct
June 29, 2020

We are excited to announce our integration with NetSuite. Modern Treasury customers can now sync their data to NetSuite, making it even easier to automatically reconcile transactions for accounting.


Changelog

Add Pacific Western Bank Support

Image of Andy Qin
Andy QinEngineering
June 23, 2020

Modern Treasury has added support for customers of Pacific Western Bank API.


Payments Primers

The Difference Between A Third-Party Sender And A Third-Party Service Provider

Image of Rachel Pike
Rachel PikeCOO
May 27, 2020

In payments, there are two common setups: third-party sender and third-party service provider. For any company that needs to move money, it’s good to understand the differences.


Guides

How to Build an Invoice Factoring Company

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
May 20, 2020

Invoice factoring advances cash against invoices a company has issued, effectively prepaying the funds that a company’s customers have promised to pay in 30, 60, or 90 days.


Changelog

Webhook Logs

Image of Julien Chien
Julien ChienEngineering
May 15, 2020

Due to the asynchronous nature of payment operations, Modern Treasury has a robust webhooks API that sends out webhooks when objects such as payment orders change state. Many of our customers build against our webhooks API, and rely on webhooks to trigger state changes and start automated processes on their end. 


Changelog

Updated Dashboard

Image of Matt McFarland
Matt McFarlandEngineering
May 4, 2020

We are excited to launch a new dashboard today.


Behind The Scenes

Intro to Payments Reading List

Image of Rachel Pike
Rachel PikeCOO
April 25, 2020

So here it is: the top ten. It’s a subset of our full list of readings that’s focused on payments specifically. 


Changelog

Add CTX Record Support for Incoming Transactions

Image of Matt Marcus
Matt MarcusCPO
April 24, 2020

Modern Treasury has added support for receiving Corporate Trade Exchange (CTX) records on incoming ACH payments.


Behind The Scenes

Updating the LedgerSync License

Image of Ryan Jackson
Ryan JacksonProduct
April 17, 2020

LedgerSync is an open source Ruby library that allows developers to easily connect to and sync information to and from any ledger or accounting software such as QuickBooks Online, NetSuite, and more.


Changelog

March Changelog

Image of Matt Marcus
Matt MarcusCPO
April 9, 2020

March was a busy month for us at Modern Treasury. We shared some changes we made to support customers in Canada through RBC, display API logs in the application, and enable users to reconcile expected payments manually in the dashboard. Here are a few additional changes that were released.


Payments Primers

ACH Timings

Image of Gail Blachly
Gail BlachlyCustomer Success
April 2, 2020

ACH money movement is a common payment method for money transfers or automated payments. It’s relatively easy and cheap, but timing can be confusing. Since we get so many questions around ACH timings, we wanted to clear up timing for companies utilizing ACH and what they can expect.


Changelog

Add RBC Bank Support

Image of Sam Aarons
Sam AaronsCTO
March 31, 2020

Modern Treasury has now added support for RBC Commercial Banking customers.


Changelog

API Logs

Image of Julien Chien
Julien ChienEngineering
March 24, 2020

To improve the developer experience with Modern Treasury, we have introduced easily navigable API logs in the app.


Guides

How to Get a SOC 2

Image of Sam Aarons
Sam AaronsCTO
March 19, 2020

When we set out to build Modern Treasury, we knew that as a company that deals with financial data and stores data in the cloud, our customers will expect us to prove our commitment to security. This proof typically takes the form of a SOC 2 report.


Changelog

Manual Reconciliation for Expected Payments

Image of Matt Marcus
Matt MarcusCPO
March 10, 2020

We’ve released a new feature that allows Modern Treasury users to manually reconcile expected payments to transactions on their bank statement.


Changelog

Updating Our Permissions System

Image of Matt McFarland
Matt McFarlandEngineering
February 19, 2020

Modern Treasury is updating how users interact with the application’s permission system. After studying how users across organizations were grouping permissions together, we are introducing a simplified permission interface.


Changelog

Add Lob Support

Image of Sam Aarons
Sam AaronsCTO
February 18, 2020

To better support customers who send physical checks, Modern Treasury has now added Lob as a supported check print provider.


Changelog

Add Silvergate Bank Support

Image of Julien Chien
Julien ChienEngineering
February 4, 2020

Modern Treasury has now added support for customers of Silvergate Bank.


Guides

How to Choose a Bank

Image of Dimitri Dadiomov
Dimitri DadiomovCEO
January 28, 2020

Choosing a bank is more than just a financial decision. At Modern Treasury, we work with many companies building out products that require banking support. This guide will help you ask the right questions from the outset, because running a company comes with enough curveballs, and your banking relationship should not be one of them.


Changelog

Audit Logs

Image of Sean Bolton