BUSINESS

Kyriba, J.P. Morgan Payments unveil new real-time treasury solution

30/11/2022 03:39 PM

KUALA LUMPUR, Nov 30 (Bernama) -- Cloud-based finance and IT solutions provider Kyriba have partnered J.P. Morgan Payments to offer real-time payments and bank reporting with a new application programming interface (API).

The end-to-end process automation uses J.P. Morgan’s open banking API capabilities and enhances existing API-based connectivity, enabling 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,” Kyriba, headquartered in San Diego, said in a statement.

Kyriba global head of market strategy Bob Stark said the company is excited to deliver real-time payments and bank reporting through a deep integration with J.P. Morgan Payments.

“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,” Stark said.

J.P. Morgan Payments digital channels head of partnership and integrations Santiago Alcaraz said they are thrilled to work 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.”

The statement said real-time payments reduce costs by up to 83 per cent and real-time bank reporting accelerates cash positioning and liquidity planning. The end-to-end automation also improves governance and fraud detection to reduce operational risks, the statement said.

Kyriba has 2,500 customers worldwide, 20 per cent of whom are Fortune 500 companies.

-- BERNAMA


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