Success Story
In today's fast-paced financial environment, having intraday visibility into bank account information is not just an advantage—it's a necessity. Kyriba's on-demand bank balance and transactions empowers treasurers to optimize cash flow management by providing on-demand insights into account balances and transaction details. With immediate access to financial data, treasurers can swiftly identify cash shortages or surpluses, verify payment execution, and enable proactive decisions that enhance liquidity management.
Intraday bank balance information when you need it
Enhance your organization's financial decision-making with real-time visibility into your cash positions and transaction activity. On-demand bank balance and transactions enables treasurers to access, monitor, and analyze their bank balances and transaction details whenever they need, delivering a strategic edge.
With intraday bank balance and transaction visibility at their fingertips, treasurers can:
Proactively manage liquidity and avoid overdrafts
Verify payment execution without accessing bank portals
Mitigate fraud risks through immediate transaction monitoring
Optimize operational efficiency with on-demand data access
Challenges of delayed bank balance visibility
Treasurers often face the challenge of delayed bank balance and transaction visibility, resulting in:
Limited insight into intraday cash flow changes and payment status
Missed opportunities to prevent overdrafts or reinvest surpluses effectively
Lack of synchronization between different departments needing up-to-date financial data
Potential gaps in intraday transaction monitoring, leaving transactions vulnerable to potential fraud
Dependency on bank portals to verify real-time account activity
On-demand bank balance and transactions empowers treasurers with the tools they need to manage cash effectively, stay ahead of risks, meet urgent business demands, and replace the online banking portal experience directly within Kyriba.
Key features
Request balance updates
Users can request their bank balance on the on-demand balance and transactions page when using the bank balance reporting solution in Kyriba. With a single API request, the latest bank balance information is retrieved, irrespective of the time of day. Users can request information for all accounts or a subset by simply clicking the update button.
Request transaction details on-demand
Users can now pull transaction information on-demand for selected accounts, eliminating the need to wait for scheduled uploads. This feature allows treasurers to verify specific payment executions and view transaction details in real-time, providing the same visibility they would get from their bank's online portal—directly within Kyriba.
Filter, sort and group
Users can control their view of the information table by sorting, filtering, or grouping information by "bank" or "company" as an example, making it easy to navigate complex account structures.
Update balances when making payments
Intraday bank balances can be requested and updated in Kyriba's payment module in the processing options, ensuring users know their balance when a payment transaction is created.
Seamless API integrations
Kyriba has API integrations with banks globally to make sure treasurers can seamlessly integrate their banking information into the Kyriba platform. Both balance and transaction data leverage these same secure API connections.
Optimize API usage
The on-demand functionality allows customers to reduce scheduled API calls (e.g., from every 10 minutes to four times per day) while still maintaining visibility by requesting updates only when needed. This optimization reduces unnecessary API volume fees.
Replace your bank portal experience
On-demand bank balance and transactions enables treasurers to see the exact same information in Kyriba as they would in their bank's online banking portal—quickly and seamlessly. This eliminates the need to toggle between systems for balance inquiries and transaction verification, streamlining treasury operations and improving efficiency.
Key benefits:
Immediate visibility into balances and transactions without portal switching
Enhanced cash management with on-demand access to current positions
Improved payment processing with real-time balance verification
Faster transaction confirmation for operational efficiency
Reduced fraud risk through immediate transaction monitoring
Cost optimization through reduced scheduled API calls
Availability and access
Automatic access for existing customers: Customers who have already activated the on-demand balance page will automatically see the transaction feature at no additional charge.
Easy activation: New customers only need to make the page visible. No manual activation required.
Product package: Both balance and transaction features use the same product code and fall under the same package.
API integration: Uses secure bank API connections.
Kyriba's on-demand bank balance and transactions provides treasurers with crucial intraday visibility into bank balances and transaction details through seamless API integrations. This real-time access enables proactive liquidity management, payment verification without bank portals, fraud risk mitigation, and operational efficiency. The solution's key features, such as on-demand updates and data control, ultimately replace the traditional bank portal experience while optimizing costs by reducing scheduled API calls.
