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Press Release

Modern Treasury Joins U.S. Bank Connected Partnership Network

Partnership will expand use of technology, applications, and embedded payments for mutual customers of Modern Treasury and U.S. Bank

San Francisco, October 19, 2023—Modern Treasury, the operating system for the new era of payments, announced today that it is joining the U.S. Bank Connected Partnership Network.

As we move into a new era for payments with faster rails like the FedNow® Service and more embedded solutions, payment products become a strategic growth lever. For joint customers of U.S. Bank and Modern Treasury, the network makes it easier to connect, embed, and deliver new payment experiences.

“Modern Treasury is thrilled to be among the first batch of partners in the U.S. Bank Connected Partnership Network as we modernize payments for companies large and small,” said Nick Farrow, Head of Bank Partnerships at Modern Treasury. “With the Connected Partnership Network, our joint clients will be able to more efficiently manage their payment and treasury processes.”

The U.S. Bank Connected Partnership Network helps corporate treasury teams easily identify and adopt technology already connected with the bank. Using integrated network partners can help businesses reduce the time and resources needed to implement treasury management services.

“The aim of the Connected Partnership Network is to make it seamless for companies to connect to U.S. Bank and remove friction from the payment experience,” said Anu Somani, head of global payables and embedded payments, U.S. Bank. “With the Network, clients can connect U.S. Bank payments within their own systems, avoiding the need to use numerous platforms.”

Modern Treasury integrates with more than 30 additional banks, including BMO, Goldman Sachs, and the J.P. Morgan Payments Partner Network.

About Modern Treasury

Modern Treasury is the operating system for the new era of payments, helping companies unlock growth, enhance customer experiences, and drive efficiency. The payment operations platform and best-in-class developer tools move finance and product teams forward with faster payments, automatic reconciliation, and real-time financial data. Founded in 2018, San Francisco-based Modern Treasury serves leading companies across broad sectors of the economy like ClassPass, gusto, Marqeta, Procore, Navan, and more, and is backed by investors Altimeter Capital, Benchmark, and Y Combinator.

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