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Accounting · head to head

Modern Treasury vs Very Good Security

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
Very Good Security logo

Very Good Security

Cybersecurity

Tokenisation proxy that keeps card and personal data out of your own systems and out of PCI scope

From
$1000/month
Rated
-
Full reviewWebsite

The short version

  • 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.; Very Good Security vGS sits in the live path of every request carrying sensitive data, so its latency and availability become yours, and an outage in the proxy is a payment outage no matter how healthy your own systems are.
  • They diverge on capability: Modern Treasury covers Multi-rail payment initiation, Very Good Security covers Aliasing proxy.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Modern Treasury and Very Good Security actually diverge.

Attributes where Modern Treasury and Very Good Security differ
AttributeModern TreasuryVery Good Security
Starting priceOn request$1000/month
Pricing modelquotePer month
PlatformsWebWeb, API
CategoryAccountingCybersecurity

Identical on both: free tier (No), user rating (Not yet rated).

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 Very Good Security

  • Aliasing proxy
  • PCI scope reduction
  • Network tokenisation
  • Processor optionality
  • Card issuing data
  • Vault and access controls
  • Data residency options
  • Compliance artefacts

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

Very Good Security

  • A marketplace facing its first PCI DSS Level 1 assessment that wants to keep card data off its own estate rather than harden a dozen servicesnot Modern Treasury
  • A merchant negotiating with a second acquirer that needs card credentials portable so the negotiation is real rather than theoreticalnot Modern Treasury
  • A fintech collecting bank account and identity documents that wants sensitive fields absent from logs, backups and analytics warehouses by constructionnot Modern Treasury
  • A card issuer that must display a full PAN in its own mobile app without the app or its backend touching cardholder datanot 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.

Very Good Security

  • VGS sits in the live path of every request carrying sensitive data, so its latency and availability become yours, and an outage in the proxy is a payment outage no matter how healthy your own systems are.
  • Token portability is the whole selling point yet leaving VGS means migrating tokens back out, a project the vendor has no incentive to streamline, so the lock-in you removed from your acquirer partly moves to VGS.
  • Entry pricing at around one thousand US dollars a month is real money for a pre-revenue fintech, and it buys volume-limited throughput, so cost scales with exactly the growth that made you buy it.
  • Scope reduction is not scope elimination: your QSA still assesses how you integrate, and teams regularly discover that a support tool or an internal admin screen pulled plaintext back in and dragged systems into scope again.
  • Proxy-based interception constrains how you design request flows, and non-standard payloads, streaming uploads or binary formats often need custom routing rules that make debugging production issues noticeably harder.

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

Very Good Security

$1000/month
  • Starter$1000/month
    • Aliasing proxy
    • Vault storage
    • PCI scope reduction
  • Growth$undefined/month
    • Network tokenisation
    • Multiple processors
    • Data residency options
  • Enterprise$undefined/year
    • Custom vault architecture
    • Dedicated support and SLA
    • Contractual compliance coverage

Which should you pick?

Choose Modern Treasury if

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

Choose Very Good Security if

  • You need aliasing proxy.
  • You work on Web, API.
  • You also want pci scope reduction.
Very Good Security review

Questions people ask

Is Modern Treasury or Very Good Security better?
Neither clearly leads. Modern Treasury starts at On request and Very Good Security at $1000/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Modern Treasury or Very Good Security?
Modern Treasury starts at On request and Very Good Security at $1000/month.
Does Modern Treasury or Very Good Security run on more platforms?
Modern Treasury runs on Web. Very Good Security runs on Web, API.
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 Very Good Security is typically brought in for.
What can Modern Treasury do that Very Good Security cannot?
Modern Treasury covers Multi-rail payment initiation, Bank connectivity, Ledgers, Automatic reconciliation. Very Good Security covers Aliasing proxy, PCI scope reduction, Network tokenisation, Processor optionality.

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.

Very Good Security: Does VGS make me PCI compliant?

No. It removes cardholder data from your systems so your assessment covers a far smaller boundary, but you still complete an assessment and your integration is part of it.

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.

Very Good Security: Can I move to another processor without re-collecting cards?

Yes, that is a core reason people buy it. The vault reveals stored credentials to whichever processor you route to.

Modern Treasury: Which rails are supported?

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

Very Good Security: What does it cost?

Published entry pricing is about one thousand US dollars per month; growth and enterprise tiers are quoted.

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.

Very Good Security: Is it only for card data?

No. The proxy handles any sensitive field, including bank details, national identifiers and documents, though payments is where the product is now focused.

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