Embat Global Banking launches for mid-market treasury teams

Embat Global Banking has been launched as a new product for finance teams managing cross-border treasury, payments and accounting tasks, the company said. The AI-powered treasury management fintech said the service brings cash management, international payments and collections, foreign-exchange hedging and account reconciliation into one workflow.

The product is aimed at mid-market companies with international operations, according to Embat. The company said those businesses often face delays when setting up bank accounts in new markets, weak links between banks and enterprise resource planning systems, and limited visibility on foreign-exchange costs.

What is Embat Global Banking?

Embat Global Banking is a banking and treasury product designed to give companies local account details, payment and collection tools, ERP connectivity, reconciliation and currency risk management through a single platform. An IBAN, or International Bank Account Number, identifies a bank account for domestic and cross-border payments, while KYC refers to the identity and compliance checks required before financial services can be provided.

Embat said customers can open local IBANs in 22 countries within days through a fully digital KYC process. The company also said transactions are automatically connected with leading ERP systems, a feature intended to reduce manual account reconciliation work for finance teams.

The product also allows customers to hedge currency exposures in more than 60 currencies, according to Embat. FX hedging is used by companies to reduce the effect of exchange-rate movements on future cash flows, receivables or payables, though the specific risk profile depends on the instrument and exposure involved.

Embat said the banking product is supported by its own AI tools and TellMe, its agentic AI assistant. The company did not disclose pricing, customer targets, banking partners or transaction volumes in its announcement.

Who will lead the new banking product?

Embat appointed Álvaro Dexeus as Director of Global Banking to oversee the new product. Dexeus joins from Pleo, where he was Managing Director for Southern Europe, covering France, Italy, Spain and Portugal.

Before Pleo, Dexeus held senior management roles at Deliveroo, L’Oréal and Zipcar, according to Embat. The company also cited his banking and corporate finance experience at Société Générale, Deutsche Bank and Commerzbank.

Dexeus said his career had shown him the operating frictions faced by treasury, accounting and banking teams in Europe, including at large multinationals. He said AI was extending the changes already brought by financial technology and that he would work on expanding Embat’s banking division across Europe.

Antonio Berga, Embat’s co-founder and co-chief executive, said Dexeus brings experience in building fintech businesses and knowledge of the pressures facing finance teams at mid-market companies. Berga said the appointment supports Embat’s aim to build a finance operating system for the European market.

This story draws on original reporting from Finextra Research.