Case Study: Parafin implements Modern Treasury's API in 8 hours
Key results
The challenge
Parafin is a financial infrastructure company providing platforms with embedded financial products for small businesses. Money movement is central to its platform, requiring speed, control, and flexibility to fund sellers as soon as they accept a capital offer, plus a single source of truth for payments data as the business scaled.
The solution
Parafin started with Modern Treasury's Payments product and later added Ledgers, creating a single source of truth for payments data that improves traceability of third-party funds and provides comprehensive audit trails.
“Modern Treasury's ledgers have transformed our reporting capabilities. By enhancing our reporting pipelines and providing comprehensive audit trails, Modern Treasury allows us to provide customers, lenders and auditors with unprecedented visibility into accounts, reinforcing trust in our financial operations.”
JQJohn QuineHead of Accounting, Parafin
The results, in context
According to Modern Treasury's published case study, Parafin implemented the Modern Treasury API in 8 hours, with 40% of the company using the Modern Treasury dashboard, and moved from business creation to first payment in 3 months. In less than three years, Parafin extended over $8 billion in offers across platforms including Amazon, Walmart, and Worldpay.