The Challenge
Nova went from paying a handful of vendors in Europe to thousands of partners worldwide—fast. Their pains:
- 5+ banking portals, each with different cut-off times
- Manual FX conversions and opaque fees
- Week-long reconciliation cycles every month end
The Solution
Nova plugged our treasury API into their payout engine:
- Virtual accounts per market to segregate flows
- Automated FX rules (bulk conversions at preferred rate windows)
- Real-time webhooks to update their ERP (no more CSV uploads)
Results
- 60→2 hours to reconcile monthly payouts
- ~35 bps saved on average FX costs
- 95% fewer failed or delayed payments (thanks to validation + alerts)
“We didn’t just speed things up—we actually trust our cash positions now.” — Jenna Patel
Implementation Timeline
- Week 1–2: Map current bank feeds & design target flow
- Week 3–4: Stand up multi-currency wallets and virtual accounts
- Week 5: Ship webhook listeners & reconciliation rules
- Week 6: Turn on automation, monitor exceptions only
Lessons Learned
- Define ownership: Ops vs Finance vs Engineering.
- Start with the top three corridors; generalize later.
- Get alerts in the tools your team actually watches (Slack/Teams).
Want to achieve something similar? Reach out and we’ll blueprint it with you.