Fact Sheet

Kyriba Payments Network

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Kyriba offers a global pre-connected, multi-bank payments network delivering accelerated payments, bank and ERP connectivity projects, mitigating fraud risk and increasing flexibility and agility for organizations of all sizes. The Kyriba Payments Network centralizes payment activity within one Payments Hub, automating unnecessary tasks, enhancing controls through superior fraud detection and error handling, while giving customers visibility to a complete status cockpit.

Kyriba Payments Network delivers our customers an enterprise-wide payment hub and the ability to centralize payment workflows. While maintaining control of cash movements in and out of the organization, the Kyriba Payments Network provides CFOs and their teams with established connectivity to the widest network of global banks, and the ability to manage payments between multiple internal systems such as ERP, Payroll, and Treasury.

Kyriba Payments Network is part of an Enterprise Liquidity platform, delivering to our customers a solution with leading practices in centralizing payments workflows, reducing the risk of fraud, holistic payments governance, and optimizing the management of liquidity.

Kyriba Payments Network

Kyriba offers pre-configured connections to your banks and can consolidate payments across your enterprise using leading, flexible and scalable technology solutions. In addition to our global capabilities with long-proven FTP and SWIFT connectivity, Kyriba offers our Open API Platform which acts as a conduit between disparate teams and systems, allowing for real-time data and services across all key workflows. The Open API Platform gives organizations access to new products and services that are accessible through Kyriba’s Developer Portal, which connects FinTech developers to Kyriba’s 2,000+ global corporate clients who have integrated Kyriba into their treasury processes, enterprise payments systems, and ERP platforms.

Kyriba also offers standardized payment controls with complete security and separation of duties, alongside real-time payments fraud prevention, compliance and anomaly detection, and sanctions list payment screening.

Harness Connectivity-as-a-Service

With corporates now at the mercy of dozens of file types, payment methods and thousands of bank variants and specifications, all of which must be specifically coded to ensure successful payment delivery, Treasury and IT often find it difficult to timely keep up. Fortunately, Kyriba’s Bank Connectivity-as-a-Service (BCaaS) approach allows Treasury teams to increase their agility to amend internal systems and 3rd parties, and also future-proof customers amidst unabated connectivity and format changes. Kyriba’s in-house developed BCaaS supports more than 45,000 bank payment scenarios for over 1,000+ banks, while delivering a deep, regularly updated library of formats and connectivity standards to easily access both internal systems (ERPs, etc.) and 3rd parties (banks, bureaus, etc.). With the pre-built bank connections and pre-configured payment formats housed within Kyriba, internal IT resources are no longer needed to build and maintain bank connections, giving treasury teams the freedom to change existing bank relationships, quickly scale their business operations by adding new banks, and have the flexibility to effectively update bank formats – including harmonization to ISO standards. The flexibility to update bank formats and change bank relationships allows corporates to see an increase in bank agility, which provides benefits when organizations are looking to make changes quickly.

Being able to make changes on the fly not only empowers teams to implement instant updates, but also ensures that new processes will not disrupt daily workflows and productivity. The ability to scale business operations with new banks allows organizations to expand into new, global markets and better support M&A initiatives. Ultimately, enabling organizations with more agility and scalability supports executive leaders to have more confidence in their decision making to continue to grow their respective businesses. While simultaneously providing 24/7 monitoring of connectivity performance, Kyriba’s BCaaS can also accelerate internal projects, such as ERP upgrades or implementations, by avoiding significant project delays and cost overruns that are a real threat for the implementation of new fraud prevention safeguards. Some of these include generating XML ISO20022 payment format variations, transitioning to API-based bank integration, and updating SWIFT gpi standards. Kyriba’s BCaaS offering provides unparalleled connectivity between enterprise payment systems and payment channels, to ultimately allow organizations to incorporate existing, disparate systems and to scale their business for the global growth they want to see.

Digitize To Simplify Payment Workflows

By centralizing payment processes, corporations can broaden visibility while standardizing and simplifying payment workflows, thus reducing manual intervention and operating costs. Smart payment netting and routing capabilities help to minimize transaction costs, while supporting dynamic discounting programs and maximizing the utilization of regional cash pools. Kyriba Payments Network extends security and controls for payments with system documented reports and digital audit trails. It delivers on-demand payment configuration, synchronized account signatory management, and strengthens business intelligence for better, informed decision-making. It holistically applies best practice workflows to ensure transparent monitoring and reporting via intelligent, pictorial dashboards, thus enabling finance functions to control and optimize the movement of enterprise wide cash with ease. Strategic payments optimization can now be a dynamic vehicle for ongoing operations, growth and value creation.

Prevent Payments Fraud

Real-time fraud detection automatically screens payments against government sanction lists, corporate payment policies, and historical data patterns.

Kyriba Payments Network Fraud Detection extends the effectiveness of standard payment controls to include real-time detection that stops suspicious payments in their tracks. The module includes customized scoring, centralized alerts, a complete workflow for resolution management, and data visualizations through a drill down KPI dashboard. This ensures only authorized transactions are executed, thus addressing a concern that most CFOs and Treasurers have about potential internal and external attacks on their payment processes. Real-time fraud detection will also screen payments against government sanction lists, corporate payment policies, and historical data patterns. These Kyriba tools strengthen existing controls by automatically quarantining suspicious and non-compliant payments for threat assessment.

Kyriba Payments Network enables achievement by CFOs and their organizations:

  • Real-time payments tracking across the enterprise with full transaction visibility, including SWIFT gpi compliance
  • Flexibility in banking partners for the most advantageous relationships, cost savings, and enhanced governance
  • Opportunities to create more shared service centers, implementing netting of POBO (Pay-on-Behalf-of) models and execute cross-border payments
  • Managing payment and discounting terms with suppliers and allow payment services, formats, and standards to be fully managed by Kyriba with no internal IT dependency
  • Providing finance teams with real-time data visualization and payment analytics that strengthen payment decisions
  • Access mobile dashboards to allow approvals by remote users
  • Use out-of-the-box connectivity to access all major regional payment networks (including SEPA, ACH, Fedwire, etc.) and real-time payment (RTP) rails