Leveraging SWIFT Bank Connectivity with Kyriba

Kyriba is a fully SWIFT-certified Application for Cash Management and Payments, offering multi-bank Connectivity-as-a-Service integrated within Kyriba’s leading liquidity management cloud platform for treasurers and CFOs. This Factsheet explains how your organization can use different Kyriba services to leverage SWIFT bank connectivity. 

SWIFT Alliance Lite2 for Corporates

Kyriba has fully integrated SWIFT Alliance Lite2 with Kyriba’s cloud platform, enabling complete automation and straight-through processing for corporate payments. No internal IT effort is required for bank reporting, payments and other SWIFT messaging.

Who Should Consider this Service?
Clients who wish to maintain the administration of BICs, users and RMA keys, but also want to outsource bank format transformation and maintenance, as well as the monitoring of bank connections.

SWIFT Service Bureau

With SWIFT Service Bureau, clients have their own SWIFT BIC fully managed by Kyriba. While the initial investment may be slightly higher on a monthly basis than Alliance Lite2, the total cost of ownership may be much lower, depending on your connectivity profile. Kyriba also provides a unique service for corporates to migrate from any other vendor to Kyriba.

Who Should Consider this Service?

• Clients with higher volumes of banks, transactions, payments, and bank accounts
• Clients who want a complete managed SWIFT service

Kyriba’s MT Concentrator Service

For clients who want to have a quick start with bank reporting, Kyriba’s MT Concentrator service allows organizations to utilize a SWIFT BIC11 specifically provisioned for Kyriba clients. The service is priced per account, offering flexibility, cost benefits and quick onboarding for bank reporting with potential access to all SWIFT member banks. A few hundred Kyriba clients have already signed up for this service.

SWIFT gpi for Corporates*

SWIFT gpi improves the customer experience in cross-border payments by increasing their speed, transparency and end-to-end tracking. Hundreds of thousands of cross-border payments, are sent every day using the new SWIFT gpi standard. Kyriba is certified for SWIFT gpi for corporates.

Reduce Payment Investigations
With end-to-end tracking and confirmation of credit, SWIFT gpi gives you full visibility into the journey of a payment.

Improve Supplier Relationships
By attaching the unique tracking reference to each payment, you can provide transparency on payments and keeping the flow of trade moving.

Speed Up Invoice Reconciliation
Payment data carried via SWIFT gpi is unaltered, making reconciliation much easier.

Achieve Greater Capital Efficiencies
With money moving faster and with greater transparency, you can improve your cash forecasting and optimize your liquidity.

*Source: SWIFT gpi