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.
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.
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.