Treasury management technology firm Kyriba is connecting its corporate clients to real-time payments via a JPMorgan API.
In a press release issued this week, Kyriba said joint customers of Kyriba and JPMorgan will have access to real-time payments in the U.S. via an API that loops into The Clearing House’s RTP network. Kyriba said in its announcement that real-time payments capabilities can be an important part of the corporate treasury function, providing finance executives with more payment choices, easier reconciliation of transactions and greater visibility into payment receipt.
“Kyriba’s vision to broaden the payment choices available to corporate CFOs and treasurers aligns with JPMorgan’s open banking initiatives,” said JPMorgan Global Head of Open Banking Sairam Rangachari in a statement. “Our clients value the option to transmit real-time payments, and the API integration we have implemented with Kyriba enables these payments to be processed and confirmed within seconds.
“Together, we have launched the next generation of payments technology to truly modernize the payments experience for our joint clients,” Rangachari added.
In another statement, Kyriba VP of Strategy Bob Stark said the API integration “means Kyriba is the first treasury management provider and first payments hub solution to offer real-time payments to JPMorgan corporate customers.”
“The speed and frictionless experience that the integration with JPMorgan offers is a breakthrough for our clients, who want to extend real-time payment automation to their ERP and treasury systems,” he added.
Earlier this year, Kyriba raised $160 million in a deal that saw private equity firm Bridgepoint obtain a majority stake in the firm. At the time, Kyriba was valued at $1.2 billion, and said it would use the funding to focus on product development and continued support, as well as to expand its partnership ecosystem. Kyriba CEO Jean-Luc Robert, as well as investors Daher Capital and Iris Capital, have retained their investments in the company.