Societe Generale and Kyriba Join Forces to Create a Cloud Treasury Management Solution
Societe Generale’s clients will have access to a complete treasury management solution (monitoring, payments and fraud management) based on Kyriba’s global cloud platform
London, San Diego, – June 11, 2021 – Societe Generale (the Bank), one of the leading European financial services groups (most notably in the field of transaction banking), and Kyriba, a global leader of cloud-based finance and IT solutions, have today announced a strategic partnership to launch a new treasury management solution. This solution will include payment automation and fraud management functionalities, and will be dedicated to the Bank’s corporate clients and their subsidiaries. Fully hosted in the cloud, this solution will be based on Kyriba’s global platform and distributed by Societe Generale.
With the objective of making daily treasury management easier for corporate clients, Kyriba and Societe Generale have pooled their expertise to offer the following functionalities:
- Real-time monitoring of treasury positions and provisional management of liquidity flows;
- Payment automation (remittances);
- Banking delegation and mandate management;
- Enhanced fraud management;
- Multi-bank connectivity and ERP, payment validation workflow management.
Since it is fully hosted in the cloud, this solution will offer easier implementation and seamless updates. It will be available on SG Markets, the Bank’s digital client portal for corporates. Based on Kyriba’s global cloud platform, the functionalities of this solution will offer the same level of quality as those offered to the world’s largest companies, in terms of data management, cyber-security, business processes and innovation.
It will be launched during the fourth quarter of 2021 starting with the French market.
Alexandre Maymat, Head of Global Transaction and Payment Services at Societe Generale comments: “Treasury management is a key area of focus for companies and we believe it is essential to make this easier through simple, efficient and secure tools. This is even more important as we exit the current crisis and, depending on their size, some companies are poorly equipped in this area. With our open architecture model allowing us to offer our clients the best solutions on the market, it seemed natural to partner with Kyriba, whose solutions are known for their robustness and adaptability. This partnership also inaugurates other collaborations that we will be keen to develop with Kyriba to ensure we can always better anticipate and meet the needs of our clients.”
“We are very proud to join this strategic partnership with Societe Generale. The recent crisis has underlined the need for companies to manage liquidity as closely as possible and to control and secure their payments. We believe this joint solution will improve the way they leverage their cash and liquidity and become more resilient, more scalable and more competitive. The technological advance of Kyriba’s Active Liquidity Management Platform in terms of Artificial Intelligence and real-time will help those businesses to better withstand and take advantage of every opportunity offered by the market. It is also an important step in Kyriba’s development, which will contribute to our growth in this market,” adds Edi Poloniato, co-Head, Banking Solutions at Kyriba.
About Societe Generale
Active in the real economy for over 150 years, with a solid position in Europe and connected to the rest of the world, Societe Generale has over 133,000 members of staff in 61 countries and supports on a daily basis 30 million individual clients, businesses and institutional investors around the world by offering a wide range of advisory services and tailored financial solutions. The Group is built on three complementary core businesses:
- French Retail Banking which encompasses the Societe Generale, Credit du Nord and Boursorama brands. Each offers a full range of financial services with omnichannel products at the cutting edge of digital innovation;
- International Retail Banking, Insurance and Financial Services to Corporates, with networks in Africa, Russia, Central and Eastern Europe and specialised businesses that are leaders in their markets;
- Global Banking and Investor Solutions, which offers recognised expertise, key international locations and integrated solutions.
Societe Generale is included in the principal socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Bloomberg Gender-Equality Index, Refinitiv Diversity and Inclusion Index, Euronext Vigeo (Europe and Eurozone), STOXX Global ESG Leaders indexes, and the MSCI Low Carbon Leaders Index (World and Europe).
Kyriba empowers CFOs, Treasurers, and their IT counterparts to transform how they optimize financial technology solutions, de-risk ERP cloud migration, and activate liquidity as a dynamic, real-time vehicle for growth and value creation. With 2,000 clients worldwide, including 25 percent of Fortune 500 and Eurostoxx 50 companies, Kyriba’s pioneering Connectivity as a Service platform integrates internal applications for treasury, risk, payments and working capital with vital external sources such as banks, ERPs, trading platforms, and market data providers. Kyriba is a secure, scalable SaaS platform that leverages artificial intelligence, automates payments workflows, and enables thousands of multinational corporations and banks to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce operational costs. Kyriba is headquartered in San Diego, with global offices in the Americas, Europe, Asia Pacific, and other major locations. For more information, visit www.kyriba.com.