Softwr

Accounting · head to head

Modern Treasury vs Navan

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
Navan logo

Navan

Accounting

AI-powered corporate travel and expense management with integrated corporate card

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Navan has a free tier, so it costs nothing to try first.
  • Each has a real cost: 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.; Navan enterprise pricing requires quote request; no transparency on true per-user or per-transaction costs
  • Prices and features above were last checked on 31 August 2026.

Where they differ

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

Attributes where Modern Treasury and Navan differ
AttributeModern TreasuryNavan
Starting priceOn requestFree
Pricing modelquotefreemium
Free tierNoYes
PlatformsWebWeb, iOS, Android, API

Identical on both: 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 Modern Treasury

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

Only in Navan

Nothing recorded that Modern Treasury does not also cover.

What people use each for

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

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 Navan
  • A lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accountsnot Navan
  • 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 Navan
  • An insurer handling premium collection and claims payment across several rails with approval controls and an auditable trailnot Navan

Navan

  • Mid-market and enterprise companies automating travel and expense workflowsnot Modern Treasury
  • Organisations seeking to reduce travel costs through policy enforcement and AI-driven discountsnot Modern Treasury
  • Teams utilising corporate card programmes for spend tracking without receipt capture overheadnot Modern Treasury
  • Global enterprises requiring multi-currency support and ERP integrationnot Modern Treasury
  • Companies where employee autonomy is prioritised; AI assistant enables self-service booking and policy compliancenot Modern Treasury

Where each one falls short

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

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.

Navan

  • Enterprise pricing requires quote request; no transparency on true per-user or per-transaction costs
  • Expense management charges apply beyond 5 users, increasing per-user costs for larger teams
  • Corporate card programmes (Navan Card, Connect) complicate adoption by requiring banking integration
  • AI assistant (Navan Edge) lacks transparency on data handling; unclear whether conversation data is retained for model training
  • Limited EMEA coverage; emerging market travel inventory less comprehensive than global GDS systems

Pricing, plan by plan

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

Navan

Free
  • Navan BusinessFree
    • Unlimited flight, hotel, train, rental car bookings
    • Global inventory across 178+ countries
    • 24/7 travel support
  • Navan Business (Expense add-on)$15/month
    • Additional expense management users (beyond 5 free)
    • Receipt scanning and categorisation
    • ERP integration (30+ connectors)
  • Navan EnterpriseFree
    • Custom pricing
    • Dedicated account management
    • Negotiated corporate rates

Which should you pick?

Choose Modern Treasury if

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

Choose Navan if

  • You want to start without paying.
  • You work on Web, iOS, Android, API.
Navan review

Questions people ask

Is Modern Treasury or Navan better?
Neither clearly leads. Modern Treasury starts at On request and Navan at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Modern Treasury or Navan?
Navan has a free tier; the other does not. Paid plans start at On request for Modern Treasury and Free for Navan.
Does Modern Treasury or Navan run on more platforms?
Modern Treasury runs on Web. Navan runs on Web, iOS, Android, API.
Can I use Navan for free?
Yes. Navan has a free tier, so you can try it without paying. Modern Treasury starts at On request.
What is Modern Treasury best used for?
Modern Treasury is most often used for a marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by hand, a lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accounts, 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 programmes, an insurer handling premium collection and claims payment across several rails with approval controls and an auditable trail. Of those, a marketplace paying out to thousands of sellers that needs a ledger its application can trust rather than reconciling a payments dashboard by hand and a lender originating and servicing loans that must track disbursements, repayments and returns against its own bank accounts are not what Navan is typically brought in for.
What can Modern Treasury do that Navan cannot?
Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation.

Answered from the vendors’ own pages

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.

Navan: Is Navan's travel booking free?

Yes. Navan Business travel bookings are free, supported by supplier commissions. Expense management is free for the first 5 users monthly; additional users cost £15/month each.

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.

Navan: What is Navan Edge?

Navan Edge is an AI travel assistant integrated into chat that handles flight, hotel, and restaurant enquiries, provides recommendations, processes cancellations and rebookings, and escalates to human support 24/7.

Source
Modern Treasury: Which rails are supported?

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

Navan: Does Navan integrate with our ERP system?

Yes. Navan provides 30+ pre-built ERP connectors (SAP, Oracle, NetSuite, etc.) and REST APIs for real-time spend sync and invoice reconciliation.

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.

Share

Related pages

More on Modern Treasury

More on Navan

Keep looking

Other head to heads