Case Study: Masterworks cuts wire payout times 80% with Modern Treasury
Key results
The challenge
Masterworks, a platform for fractional investment in fine art, launches 4-5 new investment vehicles per week and manages over 350 vehicles, each requiring separate bank accounts. Sending money via wire presented challenges for both incoming payment reconciliation and the speed of investor payouts, and manual processes did not scale.
The solution
Masterworks uses Modern Treasury's suite of APIs to send wire payments, manage onboarding, streamline approvals, and support reconciliation, moving money programmatically across multiple banks and entities through common API endpoints.
“We operate an investment platform that incumbent players in the market struggle to service. So, we needed to build technology internally that allows us to reconcile, manage and operate our own investment vehicles.”
NGNigel GlendayCFO, Masterworks
The results, in context
According to Modern Treasury's published case study, Masterworks initiates over $116M in wire transfers per month, achieves 100% reconciliation for incoming wires, and streamlines over 2,000 payment approvals per month. The company repays investors 80% faster, returning money to 95% of investors in less than two weeks.