Payments FinTech FinLync, Workday Ventures Team
Payments FinTech FinLync has received a strategic investment from Workday Ventures and joined the firm’s software partner program, the company announced Thursday (July 28).
“By integrating with Workday Financial Management, FinLync intends to power real-time payments and multi-bank API connectivity to deliver a best-in-class experience to mutual customers,” FinLync said in a news release.
With this partnership, FinLync hopes to power Workday Financial Management with more than 100 pre-integrated banking API connections to banks worldwide. The goal is to give Workday Financial Management customers the ability to initiate real-time payments while managing common fiscal headaches “through end-to-end payment traceability, simplified connectivity and real-time cash visibility.”
Peter Klein, FinLync’s co-founder and chief technology officer, said at the heart of the partnership is the belief that companies that shift to a real-time working capital model across payments, cash and treasury functions are the ones that succeed.
“Workday Ventures’ investment in FinLync is also a strong sign of support from an innovative market leader in the enterprise space, and we are honored to work closely with them as we transform the global financial economy together,” said Klein.
See also: Former Microsoft Treasurer: Real-Time Treasury Helps CFOs Gird for Black Swans
FinLync said the company also recently announced it had appointed former Microsoft treasurer Tahreem Kampton to its advisory board.
Read more: Wraps the treasure masters’ heads around an ecosystem in real time
PYMNTS spoke with Klein last year about data and how it has always been a challenge for treasurers.
“What has really plagued treasury teams for decades is the data and the integration of data, sitting at their banks and how they combine that with this ocean of data they have in their core systems,” he told PYMNTS.
To achieve that integration, and to get the most value out of that data after it’s unlocked, the ecosystem needs to embrace a shift in mindset, Klein said.
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