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Blog article
Treasury centralization without compromise: Tesote vs. MT940-based banking solutions
TL;DR: File-based banking solutions like MT940 no longer meet today's needs for visibility and agility.
Tesote is the modern alternative: Real-time data, immediate implementation and advanced tools for finance teams.
Introduction
For years, companies have been using treasury tools offered by the banks themselves or their associated systems. These products, for the most part, operate on legacy formats such as MT940 - a standard that allows banks to generate movement and balance files, usually at the close of the day.
While these files allow for some centralization, today's operational reality demands much more: real-time visibility, automation capability, agile implementation and multinational coverage.
Tesote was born with that goal in mind: to offer a treasury solution designed for today and ready to scale.
Why Tesote is a 10x superior alternative
Real Time Visibility
MT940 delivers files once a day. Tesote synchronizes balances and movements in real time for faster and more accurate decision making.
Implementation in Days, Not Months
Banking solutions require complex configurations with each bank. Tesote already has active integrations, ready to use without waiting or special developments.
Automation and Integrated Application Layer
MT940 delivers raw data. Tesote offers automatic reconciliation, entity reporting, customizable alerts and APIs to connect to your ERP.
Regional and Multibank Coverage
We do not depend on MT940 support. Tesote connects to more than 100 banks in LatAm, USA and Europe, even if they do not offer standard formats.
Designed for Companies with Complex Structures
Tesote allows you to manage multiple entities, currencies and countries from a single platform, without the need for additional tools.
Focused Team
and Specialized Support
While the MT940 solutions are complementary modules, Tesote is our only priority. We have local support and a continuously evolving product. at every stage of the treatment process.
Comparison: Tesote vs. MT940 Based Banking Products
Comparison: Tesote vs MT940
| Feature | Banking Solutions (MT940) | Tesote |
|---|---|---|
| Data update | End of day (static) | Real time |
| Implementation | Slow, depending on the bank | Fast, integrations already active |
| Automatic reconciliation | Not included | Yes, integrated |
| Centralized reporting | No | Yes |
| Multi-entity / multi-currency | Limited | Total |
| Bank coverage | Limited to banks with MT940 | Comprehensive, with no technical restrictions |
| Evolution and support | Minimal, generalized support | Local, specialized and dedicated team |
Conclusion
The treasury tools offered by banks, based on standards such as MT940, were adequate in another context. Today, they are slow to implement, limited in functionality and not very adaptable to modern business structures.
Tesote represents a new generation of treasury solutions:
- Real-time visibility
- Integrated automation
- Total coverage without technical frictions
- Specialized support and constant evolution
If you are evaluating how to take your treasury to the next level, Tesote is the logical choice.
