BUSINESS WIRE: Kyriba and J.P. Morgan Payments Launch New Real-Time Treasury Solution
MITTEILUNG UEBERMITTELT VON BUSINESS WIRE. FUER DEN INHALT IST ALLEIN DAS BERICHTENDE UNTERNEHMEN VERANTWORTLICH.
New API Delivers US Real-Time Payments (RTP®), Payments Status and Bank Reporting
Hunt Companies Sees Value from 375% Increase in Real-Time Payments
SAN DIEGO --(BUSINESS WIRE)-- 29.11.2022 --
Kyriba, (“the Company”), a global leader of cloud-based finance and IT solutions, and J.P. Morgan Payments, today announce a new real-time treasury solution with a new API that delivers real-time cash visibility and bank reporting, which will be made available to their mutual clients. The end-to-end process automation, using J.P. Morgan’s open banking API capabilities, enhances existing API-based connectivity and enables more frequent data retrieval and status updates to power real-time decision making on investing cash balances. A mutual client, Hunt Companies, has already gained efficiencies and value from having these enhanced capabilities.
“We are excited to deliver real-time payments and bank reporting through a deep integration with J.P. Morgan Payments,' said Bob Stark, Global Head of Market Strategy at Kyriba. 'The new API integration empowers our mutual clients with real-time treasury and rapid decision support to improve financial resilience through accelerated investments, reduced borrowing and more effective hedging.”
“Modern financial controls, instant cash positioning and enterprise-wide liquidity management are table stakes for international corporations,” said Santiago Alcaraz, Head of Partnership & Integrations at J.P. Morgan Payments Digital Channels. “We’re thrilled to be working with Kyriba to unlock value for our mutual treasury clients. Using this solution, early adopters can leap ahead with real-time treasury technology as they navigate increased volatility and fragmented processes.”
Key Benefits of the API powering Real-Time Treasury
- Real-time payments unlock efficiencies, reducing payments costs by up to 83%.
- Real-time bank reporting accelerates cash positioning and liquidity planning.
- Support end-to-end real-time payment processing to improve payments governance and fraud detection to reduce operational risk.
Hunt Companies increased the volume of real-time payments by 375% month-over-month by using the Kyriba and J.P. Morgan payments solution. The company made significant savings on wire transfer fees, reducing the cost by 83%, and Hunt has gained instant transaction reporting through the API for real-time cash positioning.
“Hunt Companies is moving to real-time capabilities for its Treasury to create greater cost efficiencies and investment opportunities,” said David Miller, Treasurer & Sr. Vice President, Hunt Companies. “I am pleased to take payments to the next level with Hunt Companies, Kyriba and J.P. Morgan Payments. Savings on bank fees from real-time payments, and improved remittance information benefits every business line across the organization.”
“Hunt Companies’ early adoption of Kyriba and J.P. Morgan Payments’ solution marks a critical moment for innovation in payments as the daily RTP® payment limit reached $1 million,” said Felix Grevy, Head of Connectivity and Open API at Kyriba. “API driven real-time payments are unlocking value for finance leaders, adding transparency, efficiency and cost savings to the cash lifecycle.”
For more information about the value of real-time treasury and how Hunt Companies is driving their business forward using Kyriba, read our latest case study.
About Kyriba Corp.
Kyriba empowers CFOs and their teams to transform the way they activate liquidity as a real-time, dynamic vehicle to grow and create business value, while protecting against financial risk. With 2,500 customers worldwide, 20% of which are Fortune 500 companies, and 25 million payments processed daily, Kyriba’s platform connects internal treasury, risk, payment and working capital applications to vital external sources such as banks, ERPs, trading platforms and market data providers. Based on a secure and scalable SaaS platform that uses artificial intelligence, Kyriba enables thousands of businesses around the world to maximize growth opportunities, protect against losses from fraud and financial risk, and reduce costs through advanced automation.
Kyriba is headquartered in San Diego, with offices globally. For more information, visit www.kyriba.com.
Kyriba Media Contacts
+33 633 372 920