Cloud treasury and finance solutions provider Kyriba has launched a real-time payments (RTP) service through JP Morgan’s application programming interface (API). The new service will enable clients of both entities to send real-time payments in the US through The Clearing House’s (TCH) RTP network.
“Kyriba’s vision to broaden the payment choices available to corporate chief financial officers (CFOs) and treasurers aligns with JP Morgan’s open banking initiatives,” said Sairam Rangachari, global head of open banking at JP Morgan.
“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 modernise the payments experience for our joint clients.”
The two entities describe RTP as “a game changer” for many corporate finance teams who require more choices in how they send payments.
“In addition to the faster payment transmission and acknowledgement, real-time payments on TCH’s RTP network can be sent on-demand, simplifying the reconciliation and back office application of payments as compared to managing batch files,” they add.
“Our API integration with JP Morgan means Kyriba is the first treasury management provider and first payments hub solution to offer real-time payments to JP Morgan corporate customers,” said Bob Stark, vice president of strategy for Kyriba.
“The speed and frictionless experience that the integration with JP Morgan offers is a breakthrough for our clients who want to extend real-time payment automation to their enterprise resource planning (ERP) and treasury systems.”
In February, San Diego-based Kyriba announced an API integration with Citi for faster payments and standardisation.
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