Standard Chartered and Kyriba Partner to Transform the Cross-Currency Payments Experience
The Partnership Combines Standard Chartered’s Payment Network and FX Capabilities with Kyriba’s Payments Solution through a New API Connector
22 June 2021, Singapore, San Diego – Standard Chartered, a leading international banking group, and Kyriba, a global leader in cloud treasury, finance and IT solutions, today announced a strategic partnership that transforms the cross-border, cross-currency payments experience for corporate and institutional clients. The joint proposition integrates Standard Chartered’s payments network and FX capabilities with the Kyriba Payments solution via a new application programming interface (API) connector that was co-developed by the two organizations.
Against today’s challenging operating and economic environment, many organizations are looking to increasingly digitalize their treasury operations, consolidate multiple bank relationships into a single interface, and achieve seamless interoperability through the pre-integration of payments processes with the use of cloud-based solutions.
“Our corporate clients demand greater control and a simple solution to move their money, especially across borders,” said Nadeem Ladki, Global Head of Platform Partnerships & Digital Solutions at Standard Chartered. “Our joint solution with Kyriba is designed to give our clients complete control, accessibility and transparency, without compromising on security, when making digital, cross-currency payments.”
The strategic partnership, as part of a larger integration with Standard Chartered and Kyriba, unlocks value for businesses by simplifying payments projects:
- Reduces implementation time from weeks to just a few days
- Offers upfront transparency of spreads and fees
- Automates reconciliations, and adds real-time visibility into payments status within the Standard Chartered network
“This is an exciting collaboration project that we have embarked on with Kyriba to eliminate the integration complexity of the past and deliver instant and convenient payment services through open banking inspired digital innovation,” said Ladki. “With the fundamental shifts in technology expected to reshape finance and treasury over the next few years, it is vital for Standard Chartered to leverage best-in-class innovation from partners like Kyriba to deliver new opportunity for growth.”
“Kyriba is thrilled to collaborate with a major international and innovative bank like Standard Chartered,” said Bob Stark, Global Head of Market Strategy at Kyriba. “Simplifying the payments experience is fundamental to reducing operational inefficiencies, and one major step towards the digitization that enables corporate finance leaders to unlock cash and liquidity as a dynamic vehicle for growth and value creation.”
The Kyriba-Standard Chartered API connector immediately extends additional capabilities from Kyriba with direct access to Standard Chartered’s banking services, including real-time visibility into cash, payments accounts and FX activity in 200 markets.1
About Kyriba Corp.
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.
About Standard Chartered
We are a leading international banking group, with a presence in 60 of the world’s most dynamic markets, and serving clients in a further 85. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
1For more information, see the strategic partnership brief<>
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