Kyriba has announced a partnership with Onyx, J.P. Morgan’s blockchain business unit, to improve cash management, payments and liquidity performance for CFOs and Treasurers. The collaboration is described as the first of its kind.
Furthermore, a new partnership with Workday, Inc. “will fully embed bank reporting and bank payment connectivity for Workday Financial Management to help Workday customers achieve greater banking agility.”
Ara Gopal, Global Vice President of Partnerships & Alliances at Kyriba, said:
“Today, CFOs struggle with disconnected systems, ongoing liquidity uncertainty and limited visibility into the financial health of their business. Kyriba is committed to cultivating the industry’s strongest partner ecosystem and we are thrilled to be extending our innovation through our latest partnership with Workday and collaboration with Onyx. Our comprehensive partner ecosystem drives innovation and helps customers outperform their strategic goals by providing implementation expertise, best practices and accelerated time-to-value.”
Together with Onyx’s Blockchain Deposit Account product, JPM Coin, Kyriba leverages the power of blockchain and efficiency of real-time payment processing “to increase end-to-end payments transparency. For the first time, customers can operate their JPM Coin Blockchain Deposit Accounts (BDAs) within Kyriba’s treasury management system (TMS), enabling treasury teams to facilitate real-time cross-border transfers on a permissioned distributed ledger.”
This innovative cross-border payment solution “is complemented by real-time payments and real-time bank reporting through the J.P. Morgan’s Global Payments API, available within the Kyriba Marketplace.”
Abhinav Natarajan, Global Product Head of JPM Coin, said:
“Our mutual clients can leverage blockchain technology and conduct cross-border commerce with speed, transparency, and added certainty through the JPM Coin integration. By integrating our Blockchain Deposit Accounts into their existing TMS workflows, clients can initiate and manage real-time settlements, unlocking the potential of 24/7 money movement. This is an exciting step in our ongoing collaboration with Kyriba.”
Tackling the complexities of bank integration and enabling consumer-like experiences inside Treasury platforms is core to J.P. Morgan’s Payments strategy.
Papa Faye, Global Head of J.P. Morgan Payments Integrated Digital Solutions, said:
“Our collaboration with Kyriba is an excellent example of how J.P. Morgan’s integrated digital solutions are empowering clients to unlock real-time treasury services, including payments, reporting, and now blockchain-based transactions, lowering implementation barriers, improving operational efficiencies, and enabling our mutual customers to redeploy resources to their value-add business tasks.”
In a new partnership with Workday, a provider of solutions to help organizations manage their people and money, Kyriba and Workday will “embed bank reporting and bank payment connectivity for Workday Financial Management to help Workday customers reduce reliance on IT resources to build and manage bank integrations, and proactively monitor and address bank connectivity and file format changes.”
Powered by Kyriba and available now, Workday Bank Connectivity will “provide Workday customers with pre-built connectivity and formats for over 250 global banks, including access to Kyriba’s development library of 50,000 pre-tested payment format scenarios, helping accelerate customer time to value.”
This agile and simplified integration further “extends the availability of Kyriba capabilities for Workday customers and finance teams around the world, cementing its place as the global leader in bank connectivity, supporting over 100,000 unique bank connections and 3.5 billion bank transactions annually.”
