Bank Relationship Management and Bank Account Management

Multiple bank relationship management can be a challenging responsibility, particularly across multiple geographies, languages and time zones. Regardless of the size of an organization, or the number of banks and bank accounts it has, relying on manual, time-consuming and errorprone processes to manage bank relationships is inefficient, costly and increases the risk of fraud.

Kyriba’s Bank Relationship Management module enables clients to gain control over their banking relationships. Through bank account management capabilities supported by automated change management workflows and powerful bank fee analysis, Kyriba clients are more productive and can save dramatically on bank fee costs, while also reducing their risk of fraud.

Bank Account Management

Kyriba’s Bank Account Management capability utilizes automated workflows to track all details of an organization’s bank accounts, including signatories, and delivers a comprehensive set of capabilities for managing global bank accounts.

Bank Fee Analysis

Kyriba’s Bank Fee Analysis capability provides clients a hard return on their investment by analyzing and reconciling bank fees, identifying variances and helping optimize the cost of their banking relationships. Using Kyriba, customers can easily reconcile bank fee statements against banks contractual service pricing, transaction volumes and benchmarks. Customers can then review detailed reports containing bank volumes, activity and price discrepancies, and compare trends and fees across banks.

Key capabilities of Bank Relationship Management

Audit Trails

Get a record of every event and generate reports for any period of time

Bank Account Tracking

Get a record of critical bank account information, including account code, actual bank account number, routing/SWIFT information, company, currency, GL account, bank contact information and multiple reference and description fields

Confirmation Letters

Generate confirmation letters to support the opening and closing of accounts and changing signers. Letters can be customized and electronically communicated to the bank(s)

Document Storage

Store key documents and files related to bank account administration, including signature cards, agreements and other documentation

Report of Foreign Bank and Financial Accounts

Generate compliant FBAR in various format (XLS, CSV, XML) leveraging data stored in Kyriba. The report can be issued at individual, corporation or consolidated level

Key Capabilities:

• Manage bank accounts
• Manage account signatories
• Approval workflow to support changes to accounts and signatories
• Calculate bank fee variances against benchmarks
• Calculate volume variances using daily bank reporting

Software-as-a-service (SaaS):

• No maintenance fees–subscription-based

Security:

• SOC 1 and SOC 2 compliant
• Redundant disaster recovery
• Encryption, authentication and administration
• Audit trails

Reporting:

• Hundreds of configurable reports
• Out-of-the-box dashboards
• FBAR FinCEN XML generation
• Automated scheduling
• PDF, Excel, and HTML formats
• Distribute reports via email