APIs are quietly transforming how treasurers tackle the liquidity squeeze
APIs are reshaping treasury by enabling real-time cash visibility and faster liquidity decisions amid rising market volatility and funding risks.
As volatility returns to global markets and central banks walk a fine line between tightening and easing, liquidity has reemerged as a top concern for treasury professionals. The importance of real-time visibility and agile funding strategies was highlighted at International Treasury & Cash Management Summit Miami, where treasury leaders discussed how they’re adapting to increasing systemic risk.
That urgency is echoed in the IMF’s Global Financial Stability Report (April 2025), which warns that “global financial stability risks have increased significantly,” citing high asset valuations, leveraged non-bank institutions, and fragile sovereign debt markets.
Market stress became real when US Treasury markets wobbled under pressure from macro shocks. As Roberto Perli, Manager of the system open market account at the Federal Reserve Board, noted in his May 9 address:
“Although liquidity in Treasury cash markets became strained in early April, those markets continued to function, in part because of the resilience of funding liquidity in the Treasury repo market.” He added that this resilience “likely prevented the unwind of certain shorter-term relative value trades, which would have exacerbated market dislocations.
These macroeconomic concerns make the treasury panelists’ operational innovations all the more timely. Whether it’s streamlining notional pooling structures, deploying API-based platforms, or simply automating to pull live bank data, their stories reflect a treasury function that is both under pressure and rapidly evolving.
Common goal, different structures
Each expert brought a distinct treasury structure to the table. For Bruce Edlund, Group director, assistant treasurer, Cloud Software Group, a US-based enterprise technology firm, the shift to a private equity structure following the merger of Citrix and TIBCO Software brought new urgency to liquidity management. “Our debt went from a few billion to over $15 billion,” he shared. “Cash visibility became absolutely critical.” Leveraging an API-based infrastructure, Edlund’s team now achieves automated daily visibility for 99% of their cash—crucial in a highly leveraged environment.
In contrast, Ralph Trama, Vice president, treasurer, Coaction Specialty Insurance, a US specialty insurer, operates in a more consolidated setting that allows for tighter daily control. “We probably have 80–90% visibility on a daily basis,” he said. “We pull in bank balances and integrate with our daily cash positioning.”
Making systems talk
As treasurers aim for more advanced capabilities, integrating various systems and sources of data becomes essential. Coaction found unexpected advantages in their treasury module. “When we implemented, I was pleasantly surprised by how it served as both a payments factory and a data aggregator,” said Trama. “The front end is well automated. What remains manual is cash positioning and near-term forecasting.”
APIs vs. legacy file formats
For Edlund, who once managed SWIFT service bureau implementations at Walmart, the shift to APIs was transformative. “I came away from that experience thinking, this doesn’t work well for the Treasury. Payments were clunky, files often got stuck in one of the many layers leaving everyone asking, “where is the file?” With APIs, it’s always on, always connected.”
The API-based platform he implemented at Cloud Software Group, offered fast deployment and minimal cost. “There was no implementation cost. No consultants. We signed forms and the data started flowing,” he said. “I don’t need a full TMS—we stopped hedging when we went private—but I absolutely need reliable cash visibility.”
He warned against dismissing APIs as unnecessary. “People say, ‘I don’t need real-time balances.’ Maybe not every day. But when it’s crunch time, when you’re about to default on a loan or need to meet a bond payment, you want that data now.”
Also read: Roadmaps to results: the real-world strategies for TMS, ERP, and API integration
Repatriation, debt and strategic positioning
For Coaction, simplicity rules. “We’re a cash-flow positive insurance company,” Trama explained. “At the end of each week, we transfer excess liquidity to our investment team. It’s a simple metric: are we positive or not?”
Cloud Software Group’s metric is more operational. “We provide our CEO and sponsors with weekly cash balances,” said Edlund. “It’s a muscle we’ve built, and it’s closely tied to managing our debt and funding schedules.”
Push, prioritise, prepare
As treasury teams move forward in their liquidity tech journey, the panel offered three core pieces of advice.
“Don’t underestimate implementation timelines,” warned Trama. “Vendors will always understate the effort. We needed consultants and I still lost my manager to the project for 10 months.”
And Edlund reminded to stay focused on the problem, not the solution. “You may not need a full TMS. What matters is finding the right technology to solve your key pain point. And don’t be afraid to walk away from vendors who aren’t evolving.”
In a world where the treasury is expected to deliver instant insights and manage liquidity risk across geographies and structures, it’s clear the future is API-shaped—and that future is arriving fast.