Following the Trade Treasury Payments Awards, we continue our review of this year’s winners across trade, treasury, and payments.

From AI-powered treasury tools to trade credit underwriting, capital enhancement structures, and industry-standard documentation, these winners embody what it means to drive positive change in the industry.

Treasury Technology Solution of the Year

Winner: Kyriba

Kyriba was recognised for tackling the problem of how to use artificial intelligence without sacrificing control, transparency, or trust.

While many finance teams see the potential of AI, adoption has often stalled over concerns about data security and “black box” decision-making. Kyriba’s answer was to build AI directly into its treasury platform in a way that is auditable and explainable. 

Kyriba’s AI, named TAI, provides its recommendations alongside a visible chain of reasoning, which allows the human decision makers to understand how the AI reached its conclusions before they (the humans) ultimately decide what action to take. 

According to the company, it has made tasks that once took hours, such as cash positioning and forecasting analysis, possible in minutes.

Treasury Technology Bank Solution of the Year

Winner: Bank of America

Bank of America was recognised as the Treasury Technology Bank Solution of the Year  for its work reducing the disconnect between day-to-day cash management and capital markets decision-making.

For many treasury teams, cash sits in one system while bond pricing and issuance data sit somewhere else entirely. CashPro Capital Markets Insights is a tool that brings those worlds together inside the bank’s existing CashPro platform. CashPro, therefore, gives treasurers real-time visibility of investment-grade bond pricing and market conditions directly within the same app they already use to manage payments and liquidity.

Early users of the tool have reported being able to make faster decisions and spending less time compiling information. Indeed, the bank has estimated that the project will save over 500 hours annually for banking associates across the initial client group. By embedding this degree of capital markets intelligence directly into everyday treasury workflows, Bank of America has made what was once a fragmented process feel routine, and, in the process, helped treasurers move from gathering data to acting on it.

Treasury Fintech Solution of the Year

Winners: Atlas FX

AtlasFX was recognised as Treasury Fintech Solution of the Year  for helping corporate treasury teams make better foreign exchange decisions before a trade is executed, rather than trying to analyse performance after the fact.

For many teams, even in 2026, FX execution still relies on spreadsheets, manual checks, and fragmented views of credit limits, counterparty exposure, and transaction costs. In addition, pricing, risk, and relationship management are often separate workflows entirely. AtlasFX’s BankMinder brings those elements together in a single interface that combines transaction cost analysis, credit usage, VaR, and counterparty risk into one pre-trade decision engine.

The result is a clearer picture of who to trade with, when, and at what risk. The company’s clients have reported tighter spreads (some reported reducing costs by 25-40 basis points) and fewer credit limit surprises. 

Best Trade Credit Underwriter

Winner: Atradius Trade Credit Insurance, Inc.

 

Atradius was recognised as Best Trade Credit Underwriter  for modernising how trade credit insurance works, using automation and data to make credit decisions faster and more consistent for clients trading across borders.

The insurer supports businesses in more than 160 countries and underwrites over $2.3 trillion in global trade each year. In recent years, it has focused heavily on digitising the underwriting process. More than 70 per cent of credit limit applications are now handled automatically using AI models, allowing routine requests to be approved in minutes while underwriters concentrate on more complex or higher-risk cases. According to the company, this shift has reduced manual errors and contributed to over $45 million in claims savings to date. Atradius manages more than 90,000 collection cases a year and amicably recovers around 60 per cent. 

Atradius’ clients use tools such as its Atrium portal and API integrations, which both work to embed policy management, credit checks, and limit requests directly into existing ERP and treasury systems. Behind the scenes, AI-driven monitoring scans thousands of news and data sources to flag early warning signs around deteriorating counterparties.

For exporters and lenders, this helps protect cash flow and gives them the confidence they need to extend terms and pursue new customers without taking on disproportionate risk.

Best Trade Credit Broker

Winner: Marsh Credit Specialties

Marsh Credit Specialties was recognised as Best Trade Credit Broker  for helping banks make trade credit insurance work harder as a way to free up capital and expand financing capacity.

For many banks, trade credit insurance policies held by suppliers are not structured in a way that qualifies for regulatory capital relief. That can make receivables and supply chain finance more expensive to provide, even when the underlying risk is already insured. Marsh addressed this gap by developing “capital enhancement” structures that effectively upgrade those policies into Basel-compliant, eligible guarantees.

In practice, this means banks can obtain the same protection and regulatory treatment as if the policy were issued directly to them, while suppliers still retain control of their own insurance programmes. The result is lower capital charges for the bank and, ultimately, cheaper and more accessible financing for the supplier.

The approach has now been rolled out across multiple jurisdictions, including the EU, UK, Singapore, Japan, Australia, and the UAE, and is being adopted by both global trade finance banks and regional factoring specialists. By aligning insurance structures with regulatory requirements, Marsh has helped reduce the cost of risk transfer and made it easier for banks to deploy their balance sheet into working capital programmes.

In a market where capital efficiency increasingly determines how much trade finance gets done, that behind-the-scenes structuring work has had a direct impact on how much liquidity reaches suppliers.

Best Law Firm – Trade & Commodities

Winner: Sullivan

Sullivan has been recognised as Best Law Firm – Trade & Commodities  for the role it continues to play in shaping the legal foundations that underpin global trade finance.

Over the past year, the firm advised on the 2025 update to the Banker’s Association for Finance and Trade (BAFT) Master Trade Loan Agreement, a core English law template used by banks worldwide for interbank trade lending. The revised agreement reflects current regulatory and market realities and strengthens the documentation framework that supports billions of dollars of trade each year.

Sullivan also supported the International Trade and Forfaiting Association (ITFA) in developing its Short Term SWIFT FI Trade Loan Template, which was designed to streamline short-term trade loans documented via SWIFT messaging. 

Beyond standard setting, the firm advised the European Bank for Reconstruction and Development (EBRD) on two landmark supply chain finance transactions. In Türkiye, an unfunded risk participation in Akbank’s programme for retailer Şok opened access to supply chain finance for more than 100 suppliers, many of them SMEs in regions affected by the 2023 earthquakes. In Romania, Sullivan supported EBRD and Banca Transilvania on the country’s first EBRD-backed supply chain finance initiative.

The firm has also remained closely involved in the implementation of the UK’s Electronic Trade Documents Act (ETDA), helping clients and industry bodies apply the legislation and navigate the shift from paper to digital trade instruments.

The full list of award winners is now available on the TTP Awards Winners page