U.S. fintech startup Kyriba Corp. announced earlier this week the launch of the integration of its real-time payment through J.P. Morgan’s API. The integration reportedly allows Kyriba clients that are also J.P. Morgan clients to send real-time payments in the U.S. through The Clearing House’s RTP network.
Kyriba revealed that real-time payments (RTP) is a “game changer” for many corporate finance teams who require more choices in how they send payments. The company noted:
“In addition to the faster payment transmission and acknowledgement, real-time payments on The Clearing House’s RTP network can be sent on-demand, simplifying the reconciliation and back office application of payments as compared to managing batch files.”
Sairam Rangachari, global head of Open Banking at J.P. Morgan, stated:
“Kyriba’s vision to broaden the payment choices available to corporate CFOs and treasurers aligns with J.P. Morgan’s open banking initiatives. Our clients value the option to transmit real-time payments, and the API integration we have implemented with Kyriba enables these payments to be processed and confirmed within seconds. Together we have launched the next generation of payments technology to truly modernize the payments experience for our joint clients.”
Bob Stark, Vice President of Strategy for Kyriba, went on to add:
“Our API integration with J.P. Morgan means Kyriba is the first treasury management provider and first payments hub solution to offer real-time payments to J.P. Morgan corporate customers. The speed and frictionless experience that the integration with J.P. Morgan offers is a breakthrough for our clients who want to extend real-time payment automation to their ERP and treasury systems.”
