Modern Treasury, a company that’s changing the payments game and U.S. Bank are coming together in a partnership that aims to make payments headache-free.

We're living in a world where payment processes are going through a dramatic makeover, with lightning-fast payment rails like the FedNow® Service and an abundance of embedded solutions. This is where payment products take center stage, pulling the strings of strategic growth. Now, for those lucky souls who are already in working with both banking holding firm U.S. Bank and payments firm Modern Treasury, this partnership is about to make life even sweeter.

Modernizing Payments

Nick Farrow, Head of Bank Partnerships at Modern Treasury, showed his enthusiasm for the agreement, "Modern Treasury is thrilled to be among the first batch of partners in the U.S. Bank Connected Partnership Network as we modernize payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term for companies large and small. 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 is all about making the lives of corporate treasury teams much, much easier. It's like a treasure trove of connected technologies that you can easily grab from the bank's arsenal. This means fewer headaches and more time for businesses to implement top-tier treasury management services.

Removing Friction from the Payment Process

Anu Somani, the head of global payables and embedded payments at U.S. Bank, said, "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. With the Network, clients can connect U.S. Bank payments within their own systems, avoiding the need to use numerous platforms."

Modern Treasury isn't playing favorites here; they're cozying up to over 30 other banks, including big shots like BMO, Goldman Sachs, and J.P. Morgan Payments Partner Network.

Payments, ever the pain, might just be becoming a little less of a hassle.