Softwr

Accounting · head to head

Empower vs Modern Treasury

Empower logo

Empower

Accounting

All your finances. One app.

From
On request
Rated
-
Full reviewWebsite
Modern Treasury logo

Modern Treasury

Accounting

Payment operations and ledger infrastructure that sits between your product and your own bank accounts

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Empower specific advisory fees not published; Form ADV consultation required; Modern Treasury you must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • They diverge on capability: Empower covers Net worth tracking, Modern Treasury covers Multi-rail payment initiation.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Empower and Modern Treasury actually diverge.

Attributes where Empower and Modern Treasury differ
AttributeEmpowerModern Treasury
PlatformsWeb, Ios, AndroidWeb
Founded2009Unknown

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (Accounting).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Empower

  • Net worth tracking
  • Investment tracking
  • Retirement planner
  • Cash flow
  • 401k fee analyzer
  • Bank connections
  • Brokerage accounts
  • SOC 2

Only in Modern Treasury

  • Multi-rail payment initiation
  • Bank connectivity
  • Ledgers
  • Automatic reconciliation
  • Approval workflows
  • Virtual accounts
  • Compliance tooling
  • Return and exception handling

What people use each for

The jobs each tool is most often brought in to do.

Empower

  • Wealth trackingnot Modern Treasury
  • Retirement planningnot Modern Treasury
  • Investment analysisnot Modern Treasury

Modern Treasury

  • A marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by handnot Empower
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot Empower
  • A company that wants to move off a banking as a service provider and hold its own bank accounts after seeing sponsor banks offboard fintech programmesnot Empower
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot Empower

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Empower

  • Specific advisory fees not published; Form ADV consultation required
  • High minimum investment thresholds ($100,000 for Personal Strategy)
  • Detailed fee structure available only in Form ADV documents

Modern Treasury

  • You must already have or be able to obtain your own bank accounts with the right connectivity, so early stage companies without a banking relationship cannot use it and are pushed towards a sponsor bank model instead.
  • Pricing rests on an annual minimum commitment, and companies that miss their volume forecast pay the minimum regardless, which makes the headline per-transaction rate close to irrelevant in year one.
  • Supported bank connectivity is a finite list, so if your bank is not on it you are either waiting for an integration or changing banks, which is a far larger project than adopting the software.
  • It is software over banking, not banking, so it does not solve card issuing, deposit accounts or the licensing questions that a company embedding financial products still has to answer elsewhere.
  • The ledger is genuinely good but adopting it properly means making it the source of truth for balances in your product, which is a significant application change rather than a payments integration and is where implementations run long.

Pricing, plan by plan

Empower

On request

No published plan breakdown. See the Empower review.

Modern Treasury

On request
  • Modern Treasury Platform$undefined/year
    • Platform access fee covering API, dashboard, infrastructure and support
    • Usage-based fees across ACH, wires, RTP, FedNow, push to card, cheques and stablecoins
    • A single annual minimum commitment that both platform and usage fees count towards

Which should you pick?

Choose Empower if

  • You need net worth tracking.
  • You work on Web, Ios, Android.
  • You also want investment tracking.
Empower review

Choose Modern Treasury if

  • You need multi-rail payment initiation.
  • You also want bank connectivity.
Modern Treasury review

Questions people ask

Is Empower or Modern Treasury better?
Neither clearly leads. Empower starts at On request and Modern Treasury at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Empower or Modern Treasury?
Empower starts at On request and Modern Treasury at On request.
Does Empower or Modern Treasury run on more platforms?
Empower runs on Web, Ios, Android. Modern Treasury runs on Web.
What is Empower best used for?
Empower is most often used for wealth tracking, retirement planning, investment analysis. Of those, wealth tracking and retirement planning are not what Modern Treasury is typically brought in for.
What can Empower do that Modern Treasury cannot?
Empower covers Net worth tracking, Investment tracking, Retirement planner, Cash flow. Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

Empower: Does Empower have a minimum investment requirement?

Empower's advisory services require different minimums based on service level. Personal Strategy advisory requires a minimum of $100,000 in investable assets. Private Client services require $1,000,000 or more.

Source
Modern Treasury: Is Modern Treasury a bank or a banking as a service provider?

Neither. You hold your own bank accounts and it is software over them. That avoids sponsor bank concentration risk but means you need the bank relationship yourself.

Empower: How are Empower's advisory fees calculated?

Advisory fees are calculated based on the amount of assets being managed under advice. Specific fee rates are not disclosed on the homepage.

Source
Modern Treasury: What does it cost?

Not published. A platform access fee plus usage fees across rails, on an annual term with a single minimum commitment. Negotiate the minimum, not the per-transaction rate.

Empower: Is the high-yield cash account free?

Yes. Empower's high-yield cash account has no account fees and no minimum balance required.

Source
Modern Treasury: Which rails are supported?

ACH, wires, RTP, FedNow, push to card, cheques and stablecoin payments, subject to what your bank supports.

Empower: Are there fees for stock and ETF trading?

Empower offers commission-free trading for stocks and ETFs with low fees.

Source
Modern Treasury: Do we still need our own compliance programme?

Yes. KYB, KYC and transaction monitoring are included in the platform, but you are the one holding the accounts and the regulatory obligation sits with you and your bank.

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