As customers implement the Kyriba ASP Treasury Management platform to gain global access, visibility, and control around treasury operations, the ability to automate the retrieval of bank statements and generate payments becomes increasingly relevant. Thus, Kyriba develops or integrates technologies to enhance the functionality of the Connectivity Hub and satisfy this need. Treasury professionals have contributed as well by communicating to their banking partners the importance of having a single access point integrated with Kyriba. Consequently, the trend for banks has been to work with Kyribaâs skilled implementation teams to meet the needs of mutual clients.
Kyriba clients can consolidate all bank positions globally within the Kyriba application real-time and automate pooling procedures, sweeps, ZBAâs, etc. Leveraging the power of the Connectivity Hub, the visibility and control realized with the Kyriba ASP solution enables Sarbanes-Oxley compliance and provides a holistic view of relationships, balances, bank fees, etc. Multi-national organizations with multiple banks across the world will not be affected by the diversity of formats; the Connectivity Hub standardizes the captured data via conversion to one single format while maintaining its entirety and integrity with no truncation or deletion. The information is automatically imported into the Kyriba application to be displayed, enriched, distributed, analyzed, etc.; automated transmissions to any company/userâs subsystem can be easily configured and managed.
âAs multi-nationals expand global operations and smaller organizations broaden banking relationships, there is an increasing demand from our clients to connect local banks in emerging regions like China, Turkey, Latin America to consolidate their cash positions within the Kyriba platform. Investments in the Kyriba Connectivity Hub will increase to face the demandâ Jean-Luc Robert, CEO Kyriba, says.
The Kyriba Connectivity Hub is unique in that each bank connection is proactively monitored and there are no limitations. Kyriba can work with any format, protocol, or system offered by a bank (BAI, Swift, FTPâ¦) and is not restricted by âpartnershipâ networks. The Hub is offered as part of the comprehensive Kyriba ASP solution or may also be âuncoupledâ to facilitate global connectivity to financial partners for those treasuries already committed to other third-party vendor systems.