Payments FinTech FinLync Teams With Workday Ventures

Payments FinTech FinLync has received a strategic investment from Workday Ventures and joined that 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 joint customers,” FinLync said in a news release.

With this partnership, FinLync hopes to power Workday Financial Management with more than 100 pre-integrated bank API connections to banks worldwide. The goal is to give Workday Financial Management customers the ability to initiate real-time payments while dealing with common treasury 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 the core of the partnership is the belief that companies that switch to a model of real-time working capital across their payments, cash and treasury functions are the ones who 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,” Klein said.

See also: Former Microsoft Treasurer: Real-Time Treasury Helps CFOs Gird for Black Swans

FinLync said the company also recently announced it had named former Microsoft treasurer Tahreem Kampton to its advisory board.

Read more: Wrapping Treasurers’ Heads Around A Real-Time Ecosystem

PYMNTS spoke to Klein last year about data and the way that it has always been a challenge for treasurers.

“What’s really plagued treasury teams for decades is the data, and the integration of data, sitting at their banks and how they marry that with this ocean of data they have in their core systems,” he told PYMNTS.

To reach that integration, and to glean the most value out of that data after it is unlocked, the ecosystem must embrace a shift in its mindset, Klein said.

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