Modern Treasury: Launches Virtual Accounts
- Modern Treasury announced its Virtual Accounts product to make it easy for companies to quickly and accurately track
- The launch of Virtual Accounts further solidifies leadership in enabling companies to modernize, automate and accelerate payments
- Annually, more than $750 trillion in bank transfers occur each year via wire, ACH and checks
- Many of these payments, especially those between companies, take one to three days to clear
- Offers a single API into the global banking system, as well as software to support finance
- Released Ledgers product, which helps companies automate recording financial transactions using double-entry bookkeeping
