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Kyriba announces the expansion of its Global Bank Connectivity Hub
Frankfurt (ots) - Kyriba announces the expansion of its proprietary Global Bank Connectivity Hub. The Kyriba Connectivity Hub is capable of communicating with any financial institution world-wide, thereby enabling treasurers to have one unique access point of data exchange with any counterparty they transact with.
As customers implement the Kyriba ASP Treasury Management platform to gain global access, visibility, and control around treasury operations, the ability to automate the retrieval of bank statements and generate payments becomes increasingly relevant. Thus, Kyriba develops or integrates technologies to enhance the functionality of the Connectivity Hub and satisfy this need. Treasury professionals have contributed as well by communicating to their banking partners the importance of having a single access point integrated with Kyriba. Consequently, the trend for banks has been to work with Kyriba's skilled implementation teams to meet the needs of mutual clients.
Kyriba clients can consolidate all bank positions globally within the Kyriba application real-time and automate pooling procedures, sweeps, ZBA's, etc. Leveraging the power of the Connectivity Hub, the visibility and control realized with the Kyriba ASP solution enables Sarbanes-Oxley compliance and provides a holistic view of relationships, balances, bank fees, etc. Multi-national organizations with multiple banks across the world will not be affected by the diversity of formats; the Connectivity Hub standardizes the captured data via conversion to one single format and automatically uploads the data to the Kyriba application to be displayed.
"As multi-nationals expand global operations and smaller organizations broaden banking relationships, there is an increasing demand from our clients to connect local banks in emerging markets like Eastern Europe, Turkey and Russia to consolidate their cash positions within the Kyriba platform. Investments in the Kyriba Connectivity Hub will increase to face the demand" Marko Sjoblom, Managing Director of Kyriba GmbH, says.
The Kyriba Connectivity Hub is unique in that each bank connection is proactively monitored and there are no limitations. Kyriba can work with any format, protocol, or system offered by a bank and is not restricted by any such network (DTAUS, SWIFTNet, BAI, FTP...).
Marko Sjoblom adds, that: "the Hub is natively integrated as part of the comprehensive web-based ASP-solution but it may also be stand-alone to facilitate global connectivity to financial partners for those treasuries already committed to other third-party systems, although, tendency of our clients is replace multiple static data maintenances and databases with one: Kyriba platform."
Kyriba is the market leader in real time, web based on-demand Cash Management. Our very affordable ASP-pricing and value packed cash management solution puts customers in control of their liquidity, forecasting and treasury management needs. Kyriba is a privately held company. Our investors include Commerzbank AG, GRP Partners and Mangrove Capital Partners.
ots Originaltext: Kyriba
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