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Monk Launches Cash Application 2.0, Automating 80% of Payment Matching with a Fully Auditable AI Engine

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2 months ago

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New lockbox and check upload recovers the payment detail bank feeds strip out, and a three-tier matching architecture applies every payment with a full audit trail.

NEW YORK, July 16, 2026 /PRNewswire/ — Monk, the AI-native accounts receivable platform, today announced Cash Application 2.0, a rebuilt cash application experience that pairs a three-tier matching architecture with new lockbox and check upload. The release targets one of the least automated and most time-consuming jobs in finance: matching incoming payments to open invoices.

The stakes are high. Roughly $10 trillion sits in unpaid invoices globally, and the average invoice now takes 59 days to clear, according to Allianz. Much of that delay comes from a step that is still largely manual: matching incoming payments to the right invoices. In a recent NACM and BlackLine survey, 44% of organizations said they still rely on little to no automation to manage remittance data spread across emails, PDFs, portals, and lockboxes.*** When a lockbox deposit arrives as a single lump sum, or one check covers six invoices at once, the detail needed to match it is missing, and the work falls back on finance teams.

The launch lands as finance leaders come under pressure to prove their AI investments work. According to Gartner, a June 2025 survey of 183 CFOs found that 84% of finance organizations have implemented or are planning to implement AI, yet only 7% report a high or very high impact.* Speaking at the Gartner Finance Symposium/Xpo 2026 in London, Ash Mehta, Sr Director Analyst in the Gartner Finance practice, said: “Organizations that succeed with AI are not necessarily smarter, luckier or better funded. Rather, they follow a structured and disciplined roadmap that connects finance AI initiatives to business outcomes.” Gartner advises CFOs to “identify 3-5 use cases to pilot at a time” rather than spreading effort thin.**

Cash application fits that profile: bounded, high-volume, and tied to a number every CFO tracks. It is where agentic AI creates measurable value for a finance team, because the result shows up in cash applied, invoices closed, and hours returned.

“A lot of AI in finance stops at the demo,” said George Kurdin, founder and CEO of Monk. “The teams getting real value picked one painful, high-volume process and automated it end to end, with an audit trail finance can stand behind. Cash application is that process. It is complex, it maps to a number every CFO watches, and until now it was mostly done by hand. We automated it in a way finance can trust.”

How Monk cash application works: three matching tiers

Financial data must be accurate every time. Monk built three matching tiers, each with a different tolerance for risk. Tier one is deterministic matches, applied automatically at full confidence with no LLM involved. Tier two is custom rules, deterministic and specific to each customer’s business, which Monk now suggests based on the patterns it observes. Tier three is a background agent that runs daily over transaction and invoice data, handles the cases the first two tiers cannot encode, learns from every manual match, and improves over time.

The automated match rate for cash application is 80% and trending up. Every match shows its reasoning and keeps a full audit trail, so customers can see exactly how each decision was made.

“Finance automation cannot run on a guess,” said Brodie Marshall, Founding Engineer at Monk. “We built cash application so every match is either certain or explainable, with a full audit trail behind it. Lockbox and check upload was the missing piece. It puts back the payment detail the bank feed does not show, which is where most of the hardest matches come from.”

Recovering the detail bank feeds discard

Cash Application 2.0 also fixes a long-standing problem in how payment data arrives. Most setups pull transactions from a bank feed such as Plaid or Mercury, but by the time a payment reaches the bank, the detail needed to match it has been stripped out. A lockbox deposit that was really six separate customer payments shows up as one aggregated transaction. Monk now lets customers upload lockbox files and images of checks, extracts the data, and enriches the transaction with what the feed dropped, lifting the match rate substantially.

Customers are already seeing the result on the hardest payments. “It handles the payments that used to eat up our team’s time,” said Liam Clements, Director of Finance at Goodship. “Monk’s agents have already saved us hours every week.”

Now available

Cash application, lockbox and check upload, and suggested rules are live now for Monk customers.

About Monk

Monk is an AI-native accounts receivable platform that brings together collections, cash application, and forecasting. Monk resolves 88.2% of collections with zero human intervention. Customers see a 40%+ reduction in DSO, an 80% automated match rate for cash application, and roughly 26 hours a month back across their teams. More than $1.4B in receivables is managed on the platform. Monk raised $25M to help businesses get paid fast and is based in New York. Learn more at monk.com.

Media

AR is Broken Ep. 1 | Automating Cash Application, featuring Nurah Kutty (YouTube: https://www.youtube.com/watch?v=YpzLiJ2Y0Pg)

Cash Application 2.0: Automating the Payments Everyone Matches by Hand (YouTube: https://www.youtube.com/watch?v=CHFjqohLJrA)

Blog Posts:

Introducing Cash Application 2.0 (link: https://monk.com/blog/introducing-cash-application-2-0)

Upload Remittances: recover the payment detail your bank feed throws away (link: https://monk.com/blog/cash-application-upload-remittance)

Custom Rules: Cash Application rules that build themselves (link: https://monk.com/blog/cash-application-suggested-rules)

Contact

Kendall Warson

+1 415-827-6585

kendall@monk.com | press@monk.com

* Source: Gartner, Inc. Figures cited from a Gartner press release, “Gartner Says CFOs Need Structured Finance AI Roadmaps,” June 8, 2026, referencing a June 2025 Gartner survey of 183 CFOs.

** GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with reference only. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation.

*** Source: NACM and BlackLine, State of AR Automation survey.

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SOURCE Monk

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TruTrade Showcases the Next Generation of Automated Trading Technology for Retail Traders

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46 minutes ago

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September 25, 2026

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SCOTTSDALE, Ariz., Sept. 25, 2026 /PRNewswire/ — TruTrade, a software company specializing in automated trading technology, is showcasing the latest generation of its technology designed to bring sophisticated trading automation to retail traders.

TruTrade‘s automated trading platform is designed to simplify how traders interact with the financial markets. Rather than requiring users to spend hours monitoring charts, identifying setups and manually managing positions, TruTrade’s technology is designed to automate key components of the trading process, including trade execution and position management.

The company’s latest technology reflects a broader evolution in automated trading, with an emphasis on making advanced automation more accessible to everyday traders regardless of their previous trading experience or time availability.

“Technology has completely changed what is possible for the individual trader,” said Brian Nutt, Co-Founder of TruTrade. “Our focus has been on developing institutional-grade automated trading technology that simplifies the trading process while giving retail traders access to a level of automation that historically was not readily available to them.”

TruTrade offers automated trading solutions designed for a variety of trading environments, including personal brokerage accounts, retirement accounts and supported proprietary trading accounts. The company’s technology ecosystem includes solutions for multiple financial markets and gives users the ability to select an automated approach based on their individual trading objectives.

As part of its focus on transparency, TruTrade is also providing prospective clients with access to recorded trading sessions demonstrating its automated trading technology in real-world market conditions. New demonstrations provide an opportunity to see how the technology executes and manages trades before speaking directly with the company.

TruTrade continues to invest in making automated trading technology easier to access, understand and use as automation plays an increasingly important role in the retail trading landscape.

To learn more about TruTrade and its automated trading technology, visit TruTrade.io.

View original content to download multimedia:https://www.prnewswire.com/news-releases/trutrade-showcases-the-next-generation-of-automated-trading-technology-for-retail-traders-302890503.html

SOURCE TruTrade

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Tau Highlights Electrification Leadership at Climate Week NYC 2026

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46 minutes ago

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September 25, 2026

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IEEE / Columbia University fireside chat and 19 technical papers from Tau and its research partners highlight progress in software-defined power and the technologies enabling electrification at scale.

NEW YORK and REDWOOD CITY, Calif., Sept. 25, 2026 /PRNewswire/ — Tau Motors, Inc., a pioneer in software-defined power conversion, highlighted the technical depth behind its approach to electrification during Climate Week NYC 2026. The 19 technical papers reflecting research by Tau and its partners at the Columbia Center of Advanced Electrification (CCAE) are featured in the 2026 IEEE/CCAE Symposium on Advanced Electrification Systems program. During a fireside chat at the Columbia University event, Tau Founder and CEO Wesley Pennington discussed how integrating power electronics, electric machines, and software can accelerate electrification.

The research, developed by Tau and its partners at CCAE and featured in the symposium program, covers power conversion and control, electric machine modeling, energy storage, and grid-connected systems. The work reflects Tau’s sustained investment in power conversion, controls, and electric machine engineering, disciplines central to its Ion™ and Gamma™ platforms. The papers also highlight the breadth of Tau’s work across sustainable energy systems.

Tau’s Ion™ platform combines modular power electronics with firmware and software libraries to support applications across mobility, industrial equipment, energy infrastructure, and data centers. Its Gamma™ electric machine platform integrates machine design, power electronics, and controls to enable rare-earth-free motion.

At the September 25 symposium, Wesley Pennington, Founder and CEO of Tau, joined Matthias Preindl, Associate Professor at Columbia University and Tau’s Chief Scientist, for a fireside chat exploring the “electro-industrial stack” and what becomes possible when power electronics, electric machines, and software are designed together. The conversation examined how programmable architectures can improve system performance, reduce material dependencies, and accelerate deployment across transportation, industry, and digital infrastructure.

“Accelerating electrification means making the systems that convert and control power more efficient, more affordable, and easier to deploy,” said Pennington. “When power electronics, electric machines, and software are designed together, we can optimize the entire system. Tau is building the software-defined power platform to give industry greater control over performance, costs, and supply chains—and accelerate deployment at scale.”

The symposium featured speakers from organizations including GM Energy, Siemens, and the Port Authority of New York and New Jersey, alongside researchers and other industry participants.

Tau established CCAE alongside Columbia Engineering to connect advanced research with the practical requirements of industrial applications. The work addresses challenges that influence efficiency, reliability, and the ability to deploy electric systems across a wider range of uses.

About Tau
Tau Motors, Inc. is an advanced technology company accelerating electrification from electric vehicles to the grid and digital infrastructure. Its Ion™ and Gamma™ platforms combine power electronics, advanced controls, and hardware design to improve the performance, economics, and adaptability of electric systems. Drawing on deep expertise in systems engineering, Tau partners with industry leaders to rapidly develop and deploy products on its platforms across industries. For more information, visit taumotors.com.

Media Contact
Tau Media Office
media@taumotors.com 

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SOURCE Tau Motors, Inc.

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ULTRALOQ Launches Next-Generation Smart Lock Collection: Refining Home Entry with Natural, Intelligent and Trusted Access Solutions

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46 minutes ago

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September 25, 2026

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New Bolt Mission, Bolt Pro, and Latch 5 Pro give homeowners a choice between precise, hands-free UWB entry and tap-to-unlock digital keys 

LAS VEGAS and SAN JOSE, Calif., Sept. 25, 2026 /PRNewswire/ — ULTRALOQ, a best-selling smart lock brand under Xthings, a global leader in IoT solutions, today announced the launch and availability of its next-generation smart lock collection, built to redefine access and provide customers with a wide range of effortless entry experiences that best suit their lifestyle.

The collection includes ULTRALOQ Bolt Mission, unveiled as the industry’s first ultra-wideband (UWB) enabled smart lock, featuring precise, hands-free approach-to-unlock functionality. Joining Bolt Mission are the ULTRALOQ Bolt Pro and ULTRALOQ Latch 5 Pro which are the first multi-model line of Aliro-Certified smart locks that empowers users to leverage their phone as their key through Apple Wallet or Samsung Wallet credentials. 

The latest ULTRALOQ models arrive at a time when digital wallets and standardized access credentials are reshaping how consumers expect to access their homes and other everyday assets. For the new collection, ULTRALOQ leverages UWB to enable precise, intent-aware entry to the home and Aliro, the open mobile-access standard developed by the Connectivity Standards Alliance with support from leading mobile ecosystems including Apple, Google and Samsung. With Aliro, ULTRALOQ brings the familiar wallet-based experience consumers already use for payments and increasingly digital car keys to the front door.

All three lock models are Matter Certified and compatible with leading smart home platforms, including Apple Home, Google Home and more, allowing users to incorporate the lock into their broader smart home experience. Bolt Pro and Latch 5 Pro also integrate with Samsung SmartThings, enabling more home-wide automations triggered by lock activity, such as turning on lights or adjusting the thermostat when the door unlocks. Household members can have their own Digital Key in Samsung Wallet, providing individual access to the same lock while SmartThings helps manage access and automations across the household.  

The collection will be available online in October through The Home Depot, where customers can shop the new ULTRALOQ lineup. The new collection delivers intelligent, effortless and trusted entry across accessible price points, empowering users to choose the access features that best suit their lifestyle and needs.

ULTRALOQ Bolt Mission: The Smart Lock That Knows When You Are Coming Home

Bolt Mission (MSRP: $299.99) delivers a precise, intent-aware hands-free entry experience by combining Bluetooth Low Energy (BLE) discovery, UWB ranging, radar-based presence sensing and local decision logic. The result is hands-free entry that responds to true arrival, not strictly proximity. Rather than unlocking simply if a phone is nearby, Bolt Mission analyzes precise distance and direction of approach, allowing it to distinguish an authorized user approaching from outside from normal movement inside the home.

Designed to deliver a premium hands-free experience, users can keep their phone in their pocket or bag while the Xthings Home app runs securely in the background. With Bolt Mission, there’s no app to open upon approach, no PIN to enter and no separate hub required for hands-free entry.  

To support dependable intent detection (approach vs. departure) and efficient battery life, Bolt Mission features built-in radar to keep the lock alert when it matters most and conserve power when it does not. Intent detection logic is processed locally between the authorized phone and the lock, delivering fast approach-and-unlock entry.

ULTRALOQ Bolt Pro: Premium Front-Door Deadbolt with Wallet-Based Access 

Bolt Pro (MSRP: $269.99) is the collection’s premium digital-key deadbolt, bringing Aliro-Certified tap-to-unlock access together with fingerprint, PIN, app and physical-key entry. Aliro-Certified, Bolt Pro lets users unlock their door with a simple tap of their compatible device, without ever having to open an app. Digital keys are stored in a compatible mobile wallet, giving users a familiar tap experience similar to the contactless interactions they already use every day.

Designed to support a wide range of access methods, Bolt Pro pairs digital wallet access with fingerprint, PIN, app control and physical key backup. While digital wallet access may be ideal for everyday users, fingerprint provides fast personalized entry options and PIN codes can be issued to children, guests, cleaners or other service providers in need of access. 

ULTRALOQ Latch 5 Pro: Wallet-Based Access for More Doors

Latch 5 Pro (MSRP: $249.99) brings the same tap-to-unlock digital wallet experience to doors that use a lever rather than a deadbolt, including side entrances, home offices, garage-entry doors, rentals and shared spaces. Residents or employees can use a compatible digital wallet or fingerprint for access, while visitors and other temporary users can receive PINs. Aliro and Matter Certified, Latch 5 Pro delivers the same digital key experience and smart home platform compatibility as Bolt Pro. 

Executive Quotes

“The front door is moving away from keys and apps toward digital credentials and intent-aware access,” said Raj Sundar, Senior Director of Product Management for ULTRALOQ. “Our goal with this collection is to make that transition seamless and practical for customers, whether someone wants their door to detect their arrival and unlock hands-free or wants to quickly tap the phone or watch they carry every day to authorize entry.”

Available Online via The Home Depot

The new collection of ULTRALOQ smart locks will be available for purchase online through The Home Depot beginning in October. Customers can explore each model in the collection, compare access options, and learn more about the distinct features each lock delivers to select the ULTRALOQ model that is right for them.   

The ULTRALOQ collection is available now online through ULTRALOQ as well as Amazon and will be available online via The Home Depot in October.  

For additional information about ULTRALOQ, please visit www.ultraloq.com. 

About ULTRALOQ

ULTRALOQ, a best-selling smart lock brand under Xthings, is dedicated to developing innovative and secure smart access solutions. With a focus on blending cutting-edge technology with convenience, ULTRALOQ’s products are designed to provide a secure and keyless entry experience for both homes and businesses, making smart security more accessible than ever.

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SOURCE ULTRALOQ; Xthings Inc.

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