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Kyriba launches payments network for global CFOs

Kyriba has launched the Kyriba Payments Network to address the growing CFO mandate to combat payments fraud, centralise payments, and unlock organisational efficiency.

The payments network provides corporations with real-time fraud detection and access to machine learning-driven payments anomalies detection, as well as the ability to dramatically accelerate corporate ERP cloud migration projects, streamline global bank connectivity and format transformation projects.

“Kyriba simplified bank connectivity and centralised payments processes during a significant treasury and finance transformation project,” said Janice Minter, senior treasury analyst at Amway. “With hundreds of banks, and nearly a million payments per month, Kyriba streamlined our treasury operations, helped us reduce risk by 10 times and eliminated more than half of our payments banks, making the team more efficient and effective to support the enterprise.”

“CIOs are challenged with finding ways to accelerate ERP projects and reduce payments transformation costs against a larger backdrop of increasing payments fraud and keeping up with market innovations, such as real-time payments,” said Jean-Luc Robert, chairman and CEO at Kyriba. “CFOs, in partnership with the C-Suite and their Boards, are demanding payments efficiencies.”

The company has cited new research that shows 88% of CFOs reported that their organisations were the victims of sophisticated payments fraud schemes.

“Corporate CIOs and CFOs are scrambling to build greater resilience to payments fraud as they migrate their ERP platforms to the cloud,” said Bob Stark, senior strategist at Kyriba. “Our clients choose Kyriba to reduce the risk of payments fraud, just as they rely on Kyriba to manage liquidity and currency risk.”

The Kyriba Payments Network is a pillar of firm’s cloud-based Active Liquidity Network that delivers cash, liquidity, payments, working capital, and risk management to enterprise CFOs.


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