Latest Journal Entries

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.

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.

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.

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. 

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.

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

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. 

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. 

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. 

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.