Treasury News Network

Learn & Share the latest News & Analysis in Corporate Treasury

  1. Home
  2. News

Industry roundup: 16 June

Bel selects Kyriba for treasury, international payments and financial risk management

French-headquartered Bel, a global provider of branded cheese and a player in the healthy snack market, has selected Kyriba as its new platform for global treasury, payments and risk management.

Kyriba will manage cash management, banking communication (via SWIFTnet) and risk management for the entire Bel Group. The scope includes 66 commercial and industrial subsidiaries in 34 countries on 5 continents, and more than 200 bank accounts at 31 banks. The group annually manages more than 1,500 market transactions (options, terms, swaps), financing transactions for more than €1bn (including public bond issues, EURO PP, Schulschein, neuCP, newMTN, and RCF lines) and investments totalling more than €500m in UCITS and term accounts.

"We were looking for a partner to help us simplify our application landscape and improve our productivity," said Benoît Rousseau, Group Treasury and Insurance director at Bel. "We chose Kyriba for its SaaS platform and extended functional coverage, which allows us to manage all our treasury, payments and financial risk activities from a single point of entry. In addition, Kyriba guarantees us the implementation of additional functionalities in the area of ​​risk management within 12 months.".

Thanks to this contract, Bel will participate in Kyriba’s co-innovation approach and will also benefit from artificial intelligence and business intelligence technologies for fraud detection and the production of analysis reports.

"The automation of tasks and reports, and the security performance were key elements in our choice," added Rousseau. "We are very happy with this partnership with an innovative fintech company, and we hope to be able to accelerate the digital transformation of the financial department through this project." 

With this project, Kyriba says that Bel also benefits from its active liquidity management approach, which makes it possible to optimise visibility of cash flows and plan and optimise cash management.


Alexion wins treasury award for technology transformation using ICD

Boston-based Alexion Pharmaceuticals was highly commended for 'Harnessing the Power of Technology' in Treasury Today’s Adam Smith Awards this year. Alexion’s treasury team transformed its cash management and investment workflow using ICD Portal, 360T, Kyriba and SAP, among other technologies. The resulting efficiency not only saves them time and reduces risk, but it also enables the team to minimise their uninvested cash.

"Alexion’s business is centred on innovation and working collaboratively with external partners," commented Stacy Liparidis, associate director, Treasury at Alexion. "It is in this spirit that we chose the right technology partners to help us fulfil our vision. The requisites for success included the best in functionality, ease of use, reporting and proven integration experience."

"We’re thrilled for the Alexion team and their success in advancing their own organisation and the industry itself," said ICD CEO Tory Hazard. "ICD is proud to have our portal be part of their transformative workflow for cash and investments."

Alexion is a US$5bn global biopharmaceutical company focused on serving patients and families affected by rare diseases and devastating conditions through the discovery, development, and commercialisation of life-changing medicines.


Banking Circle and B4B Payments join forces for corporate payments service

B4B Payments, a global prepaid payments provider, has selected Banking Circle to provide payments infrastructure for its corporate banking services. Providing prepaid solutions to businesses for more than 15 years, FCA authorised B4B enables organisations of any size to manage expenses, simplify payroll, reimbursements, and offer employee rewards and incentives.

The partnership with Banking Circle should enable B4B Payments to offer solutions that streamline and eliminate antiquated finance and accounting processes. Initially Banking Circle will provide virtual IBAN accounts for B4B clients as well as safeguarding services.

Banking Circle Virtual IBAN gives financial institutions such as B4B the ability to issue virtual IBANs in their customers’ names in a way that the firm says traditional banks would simply not facilitate due to risk and legacy systems limitations. 

The future vision of the two companies’ collaboration includes utilising Banking Circle’s multi-currency accounts, SEPA and SWIFT transactions solutions and foreign exchange (FX) capabilities. By making payments 'feel local', Banking Circle will be removing the need for B4B to have a physical presence in each country in which its customers operate, yet deliver payment costs comparable to those of local banks in the region.


Nordea and Nets extend their long-term partnership in Denmark and Finland

Nordea and Nets have entered into a new agreement, further prolonging their long-term partnership in Finland and Denmark for the provision of payment services. Nets will continue to deliver card issuing, processing, fraud prevention and detection, dispute handling, digital solutions, and managed services, for Nordea’s card products, including Dankort in Denmark. 

"We are pleased that the largest bank in the Nordics has decided to continue and further develop our mutual ambitions in providing engaging payment experiences across the full customer journey," said Torsten Hagen Jørgensen, chief executive officer of Issuer & eSecurity Services at Nets Group. "Using Nets' innovative and best-in-class processing services, we look forward to serving Nordea's Nordic business for many years to come."

Nets provides flexible payment solutions that are designed to enable banks to meet the demand for safe frictionless, digital banking experiences across Europe and the Nordics. The long-term agreement has already entered into force.

Like this item? Get our Weekly Update newsletter. Subscribe today

Also see

Add a comment

New comment submissions are moderated.