How Modern Treasury shares data with customers on 14 different platforms

Large technology companies like Gusto, ClassPass, and Marqeta use Modern Treasury’s platform to send, track, and reconcile payments.

“When it comes to payment operations, we are the system of record for our customers,” says Product Manager Erica Libby. “The data on our platform plays a critical role in our customer’s businesses. They use it to make business decisions, prepare financials, ensure compliance, and more. That’s why we wanted to give our customers better access to their data.”

Prior to setting up data sharing, Modern Treasury’s customers had several ways to access their data: CSV downloads, an API, and webhooks. However, none of these tools were ideal for use cases like financial analysis, operations, and business intelligence that require access to large volumes of high-quality, structured historical data.

“Webhooks and APIs are great ways to pass event data, but they’re not the best tools for diving into data sets,” Libby said. “For instance, APIs have rate limits. Costs climb quickly when finance wants to pull a month’s worth of transactions — potentially millions of records — in a few hours.”

“Another common problem with webhooks and APIs is occasional data loss on the client side due to problems with data ingestion or API calls,” Libby continued. “When data is missing, we have to check multiple systems to figure out where the data loss occurred. It’s a time-consuming process that ties up product, analysis, and engineering.”

The Modern Treasury team began discovery work on a new way to give customers access to their data.

“We wanted to create a way for customers to plug their data warehouses directly into ours. Clean, structured data would flow from one warehouse to another. Customers would have secure access to all the data they need.”