Modern Treasury, an expense and payment management platform, has enhanced its platform by launching the “Reconciliation Engine” (RE) to automate and simplify business cash reconciliations. RE enables businesses to track and confirm transactions in real-time, thereby improving efficiency, curtailing financial risk, and offering real-time insights on payment flows. 

 The RE has three primary capabilities: 1) integrations with financial institutions and payment processors (20+ banking partners and payment processors such as Stripe); 2) automated reconciliation (proprietary AI and ML models to reconcile data between client business data and third-party processor data); and 3) cash and reconciliation dashboard (includes case management, exception handling, and cash monitoring).

 Modern Treasury is primarily targeting businesses with high volume, complex fund flows with their RE, which typically includes lenders, insurance companies, and payroll providers, among others.