Kyriba announced the release of a new solution with Onyx, JPMorgan's blockchain division, and a partnership with Workday to improve cash management, payments, and liquidity performance for CFOs and treasurers.
These efforts also aim to build bank reporting connectivity into Workday Financial Management to help Workday customers improve banking agility.
In collaboration with Onyx's blockchain deposit account product, JPM Coin, Kyriba aims to leverage the power of blockchain and the efficiency of real-time payment processing to increase end-to-end payment transparency.
Through this partnership, customers will be able to operate JPM Coin Blockchain Deposit Accounts (BDA) within Kyriba's Treasury Management System (TMS), allowing treasury teams to facilitate real-time cross-border remittances on a permissioned ledger. becomes possible.
The cross-border payments solution consists of real-time payments and bank reporting through JPMorgan's Global Payments API, available within the Kyriba Marketplace.
“Today, CFOs are challenged by disconnected systems, ongoing uncertainty in liquidity, and limited visibility into the financial health of their businesses,” said Ara Gopal, Kyriba's global vice president of partnerships and alliances. “There is,” he said.
“Kyriba is committed to cultivating the strongest partner ecosystem in the industry, and we are excited to expand our innovation through our latest partnership with Workday and collaboration with Onyx,” he added.
Abhinav Natarajan, Global Head of Product at JPM Coin, also commented on the news: “Through the JPM Coin integration, our mutual clients will be able to leverage blockchain technology to conduct cross-border commerce with increased speed, transparency, and certainty.
“By integrating our blockchain deposit accounts into existing TMS workflows, our clients will be able to initiate and manage real-time payments, unlocking the potential for 24/7 fund movement. This is an exciting step in our continued collaboration.”
Specifically, Workday customers will be able to manage bank integration and reduce their reliance on IT resources to handle changes in bank connections and file formats. These companies will now have access to pre-built connections and formats for over 250 global banks, including access to Kyriba's development library with 50,000 pre-tested payment format scenarios, increasing customer value. It helps speed up your time to realization.
Kyriba is also expanding its global partner network, featuring a wide range of partners from CFO advisory firms, certified implementation partners, technology and independent software vendors (ISVs), and investment management firms including Deloitte, PwC, Accenture, AWS, and BlackRock. is.
