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Accounting · head to head

Medius vs Modern Treasury

Medius logo

Medius

Accounting

Accounts payable automation and supplier payments for mid-market finance teams, Marlin Equity owned

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: Medius the sourcing, contract and procurement modules are considerably less developed than the AP core, so buying Medius as a full source-to-pay suite means accepting weak upstream tooling.; 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: Medius covers Invoice capture and coding, 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 Medius and Modern Treasury actually diverge.

Attributes where Medius and Modern Treasury differ
AttributeMediusModern Treasury
PlatformsWeb, iOS, AndroidWeb

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 Medius

  • Invoice capture and coding
  • Matching and exception handling
  • Fraud and anomaly detection
  • Supplier payments
  • Approval workflow
  • ERP integration

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.

Medius

  • A mid-market finance team where most spend arrives as an invoice with no purchase order to match againstnot Modern Treasury
  • A group with several legal entities on different ERPs that wants one AP process across all of themnot Modern Treasury
  • Reducing invoice fraud exposure with automated detection of supplier bank detail changesnot Modern Treasury
  • Replacing a scanning bureau and a shared AP inbox with automated capture and exception-based reviewnot 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 Medius
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot Medius
  • 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 Medius
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot Medius

Where each one falls short

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

Medius

  • The sourcing, contract and procurement modules are considerably less developed than the AP core, so buying Medius as a full source-to-pay suite means accepting weak upstream tooling.
  • Pricing is quote-only and driven by invoice volume, so a business with many low-value invoices pays disproportionately relative to the spend being controlled.
  • Payments are billed on transaction volume separately from the AP subscription, which is easy to omit from a cost comparison against a licence-only AP tool.
  • Private equity ownership since 2017 has produced an acquisition-driven product line, so payments and adjacent capability come from bought-in technology rather than the original platform.
  • ERP integration depth varies sharply by system, and organisations on less common or heavily customised ERPs face integration work that lengthens the implementation.

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

Medius

On request
  • Medius AP Automation$undefined/year
    • Two packaged AP automation tiers
    • Priced by invoice volume and entity count
    • Sourcing, contracts and procurement modules sold separately

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 Medius if

  • You need invoice capture and coding.
  • You work on Web, iOS, Android.
  • You also want matching and exception handling.
Medius review

Choose Modern Treasury if

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

Questions people ask

Is Medius or Modern Treasury better?
Neither clearly leads. Medius 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, Medius or Modern Treasury?
Medius starts at On request and Modern Treasury at On request.
Does Medius or Modern Treasury run on more platforms?
Medius runs on Web, iOS, Android. Modern Treasury runs on Web.
What is Medius best used for?
Medius is most often used for a mid-market finance team where most spend arrives as an invoice with no purchase order to match against, a group with several legal entities on different erps that wants one ap process across all of them, reducing invoice fraud exposure with automated detection of supplier bank detail changes, replacing a scanning bureau and a shared ap inbox with automated capture and exception-based review. Of those, a mid-market finance team where most spend arrives as an invoice with no purchase order to match against and a group with several legal entities on different erps that wants one ap process across all of them are not what Modern Treasury is typically brought in for.
What can Medius do that Modern Treasury cannot?
Medius covers Invoice capture and coding, Matching and exception handling, Fraud and anomaly detection, Supplier payments. Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

Medius: Is Medius a procurement suite or an AP tool?

Primarily an AP automation platform with procurement modules attached. If sourcing is your main requirement, look elsewhere.

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.

Medius: Who owns Medius?

Marlin Equity Partners, which acquired it in 2017 and has funded several bolt-on acquisitions since.

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.

Medius: How is it priced?

By quote, driven by invoice volume and entity count, with payments billed separately on transaction volume.

Modern Treasury: Which rails are supported?

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

Medius: Does it replace our ERP?

No. It sits alongside the ERP and posts approved invoices into it.

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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