Kyriba Teams With JPMorgan Payments on Real-Time Treasury

Finance and IT platform Kyriba and J.P. Morgan Payments have launched a real-time treasury solution.

Offered to the companies’ mutual clients through a new application programming interface (API), the solution provides RTP network payments, payments status and bank reporting, the companies said Tuesday (Nov. 29) in a press release.

“The new API integration empowers our mutual clients with real-time treasury and rapid decision support to improve financial resilience through accelerated investments, reduced borrowing and more effective hedging,” Kyriba Global Head of Market Strategy Bob Stark said in the release.

By providing end-to-end process automation, the solution enables more frequent data retrieval and status updates to power real-time decision making, according to the release.

In addition, the new solution’s real-time payments reduce payments costs by as much as 83%, its real-time bank reporting accelerates cash positioning and liquidity planning, and its end-to-end real-time payment processing improves payments governance and fraud detection, the release said.

“Using this solution, early adopters can leap ahead with real-time treasury technology as they navigate increased volatility and fragmented processes,” Santiago Alcaraz, head of partnership and integrations at J.P. Morgan Payments Digital Channels, said in the release.

A survey from the Federal Reserve found that three out of four businesses consider offering faster payments important, with nine out of 10 expecting to offer that capability within the next three years, as reported in the “Real-Time Payments Tracker®,” a PYMNTS and The Clearing House collaboration.

The businesses’ specific reasons for wanting faster payments varied, the survey found, with 52% wanting to have more accurate cash flow management, 46% wanting to improve their accounts payable (AP) procedures, and 43% needing to streamline their payroll operations.

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