Scotiabank's new digital payments platform
provides clients with real-time payments services and cash
management APIs
TORONTO, Aug. 9, 2022
/CNW/ - Scotiabank has announced the launch of Scotia
TranXactTM – a digital payments platform that
provides business banking clients with on-demand access to
Scotiabank's payments and cash management Application Programming
Interfaces (APIs). With Scotia TranXact business banking clients
now have access to real-time payments, request-to-pay and account
information services via APIs.
"Businesses are increasingly seeking more seamless access to
banking and payment services. Our growing suite of APIs, delivered
through the Scotia TranXact platform, enable our clients to
streamline their cash management and treasury operations," said
Chris Manning, Senior Vice-President
of Global Business Payments at Scotiabank. "Scotia TranXact
provides an opportunity for businesses of all sizes to digitally
transform their processes, create operational efficiencies and
enable innovation as we continue to grow the platform
offering."
By integrating directly into clients' platforms, such as
treasury management systems and enterprise resource planning
(ERPs), Scotia TranXact APIs provide increased automation, greater
predictability, and a frictionless payments experience. These APIs
enable clients to digitize day-to-day financial activities, improve
cash flow forecasting and enhance their real-time payment
processes.
"We developed Scotia TranXact to deliver a secure,
'plug-and-play' solution that enables companies to readily
integrate APIs into their workflows and to support those global
companies that already use banking APIs in other countries,"
continued Manning. "As businesses seek to lower costs and drive
further digitization in their payments processes, Scotia
TranXact APIs unlock new opportunities for digital innovation."
Scotia TranXact and the launch of APIs is another in a series of
investments by Scotiabank designed to improve the experience of
business banking clients in the evolving digital
ecosystem. Scotiabank will continue to invest in the ongoing
digitization of cash and treasury management services to meet the
increasingly digital needs of global business banking clients.
For more information about Scotia TranXact APIs, visit
Scotiabank's Developer Portal.
About Scotiabank
Scotiabank is a leading bank in the Americas. Guided by our
purpose: "for every future", we help our customers, their families
and their communities achieve success through a broad range of
advice, products and services, including personal and commercial
banking, wealth management and private banking, corporate and
investment banking, and capital markets. With a team of over 90,000
employees and assets of approximately $1.3 trillion (as
at April 30, 2022), Scotiabank trades on the Toronto Stock
Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For
more information, please
visit http://www.scotiabank.com and follow us on Twitter
@ScotiabankViews.
SOURCE Scotiabank