How to Prepare Treasury for Instant Payments in 2023
With the U.S. Federal Reserve set to launch its FedNow system soon, 2023 is going to be a big year for real-time and instant payments. A panel session at KyribaLive 2023, moderated by Mike Gwozdek, Principal Consultant, 3PO Consulting, explores some of the potential real-time payments milestones that could come to fruition this year, as well as how treasury professionals can prepare for them
Kyriba and U.S. Bank Enable APIs for Real-time Treasury
As part of a strategic partnership Kyriba and U.S. Bank have developed API connectors for realtime payments and instant data exchange. These API connectors can be enabled upon request for mutual customers based on their business needs and applicable use cases.
What are APIs in treasury?
Application Programming Interface (API) is an interface provided by one application for other application(s) to communicate with it. APIs in treasury management software connect different systems to share cash data or execute cash management and payments workflows automatically and in real time.
How IT Can Simplify and Accelerate ERP Cloud Migration
A major shift is underway in the world of enterprise resource planning (ERP) software. With both customers and ERP vendors driving a mass migration to the cloud, many companies have already completed their ERP cloud migration projects—and thousands more are set to follow suit by the end of this decade.
Embedded Finance to Embedded Treasury - Are Corporates Ready for the Transition?
Embedded finance is the practice of integrating financial services within non-financial platforms and services with the objective of delivering the financial service at the “point of need”. In the not-so-distant past, accessing financial services such as payments, lending, and investments required either a visit to the bank or a redirection to a financial services provider’s portal or call center. With digital transformation driven by software platforms, software enablers, and banks, financial services can now be seamlessly integrated, or ‘embedded’, into non-financial services contexts. This is revolutionizing the way financial services are delivered and consumed. Payments is the most prominent of all embedded financial use cases for customers.
Introducing webhooks at Kyriba
We are thrilled to announce that we have expanded our API offering with the introduction of webhooks, providing our customers with more flexibility and control over their actions. With webhooks, you can receive real-time notifications about the status of the events you want to be alerted in your Kyriba application, without having to continuously poll the API or log into the Kyriba application for updates. This means you can now easily integrate Kyriba with your own systems and workflows, and automate tasks based on available events.
Unlocking the Potential of AI in Treasury Management
Artificial intelligence and machine learning (AI/ML) have gradually worked their way into everyday life in treasury and finance, but we’ve only scratched the surface of their potential. This eBook explores the use cases for AI/ML within treasury and finance, as well as the barriers preventing mass adoption of the technology. These technologies are applicable in cash and liquidity management, payments fraud detection, documentation of treasury processes, and more. But while some organizations are currently using these technologies, we’ve only scratched the surface of their potential.
The Four Reasons SVB is a Wake-Up Call to Automate Treasury
CFOs’ worst fears for cash and financing tied directly to Silicon Valley Bank appear to have been alleviated by the U.S. Government’s takeover of the bank. But anyone thinking the crisis is over missed the lesson completely.
APIs - Transforming Cash, Liquidity and Payments
APIs offer a lifeline for CFOs and treasurers who are looking for both innovation and cost improvements. Although many CFOs think of APIs as an expedited pathway for bank connectivity, bank connections are just the tip of the iceberg. APIs open integration to a variety of systems, including capabilities that vastly improve cash forecasting, liquidity management and payments. APIs offer an information and processing gateway to realizing digital transformation. Unlike FTP, APIs do not require files to be sent or downloaded. Data is exchanged point to point between systems immediately, allowing for instant data transmission and eliminating substantial risk. They enable the development and use of faster, pre-built connectors to reduce implementation times and facilitate real-time payments and security.
What Are Real-time Payments?
Real-time payments are a payment type where the transmission of the payment message and the availability of “final” funds to the payee occur in real time or near-real time and on as near to a 24-hour and seven-day (24/7) basis as possible. The terms “real-time payments,” “faster payments,” and “instant payments” are often used interchangeably to describe this type of modern payment infrastructures, which are generally domestic and sometimes regional in nature.
What Is Open Banking for Corporates?
Open banking is a banking practice that gives consumers full control over their own banking or financial data so that they can decide whether any third-party financial service providers can access the data to provide them with better products and services. That’s why it is also known as “open bank data”. Open banking is enabled by the use of APIs. In Europe, the legislation of PSD2 (Payment Service Providers Directive) has been a main driving force behind making open banking a reality for every consumer. Open banking has also become a hot topic for corporate treasurers because many of the Open banking use cases and their associated benefits are applicable in the business context too, especially when it comes to system integration and real-time data accessibility.
What Is Connectivity-as-a-Service?
Connectivity-as-a-Service is to provide quick onboarding and secure connectivity services to businesses so that they can be released from the workload of building and maintaining those connectors by themselves with cost efficiency. By choosing Connectivity-as-a-Service, organizations can reduce time spent on connecting your ERPs to banks by as much as 80%, compared to the DIY approach. The main reason is that in today’s corporations, it is very common to build or buy a special-purpose software or a Software-as-a-Service platform in order to digitize a particular business process, treasury being one of them. Along with many of such digitalization initiatives over the years comes the challenge of system silos.
Bolt’s Rapid Growth Requires Scalability
“We selected Kyriba thanks to the track record they have working with fast growing tech companies that made it a safe bet. We’re implementing an advanced treasury system that can handle all our requirements in a scalable way, regardless of how quickly we grow.” Mahmoud Iskandarani, Director, Group Treasury, Bolt — Building the Future of Mobility
The Winning Formula for Your ISO 20022 Payments Migration
The lack of payment messaging standards around the globe has been a major issue for payment factory or payment hub modernization. The absence of standards has resulted in expensive cross-border payments, insufficient transparency, increased fraud, and heightened security risks. Many companies have allocated extensive resources to develop local formats, yet still face a complexity that prevents them from harmonizing end-to-end processes, including payments validation and data reconciliation, for domestic and international transfers.
Top 5 Treasury Practices That Will Change Your 2023
For treasury teams, 2022 was full of extremes. With rapid FX fluctuations, price inflation, rising interest rates, new cash forecasting challenges, global recession fears and more, treasurers head into 2023 facing a lot of uncertainty. In speaking with Kyriba clients and reviewing developments from the past year, we have compiled a list of five key practices that many of your treasury peers are putting into play to make their organizations more financially resilient in the new year.
Five B2B Payments Expectations for 2023
As we step into a new year, it’s important to reflect on the advancements in the B2B payments landscape. From the increasing adoption of digital payment platforms and real-time payments to the growing need for payment automation and real-time visibility, the way companies handle transactions has undergone a significant transformation in recent years. With this in mind, it’s worth looking ahead to what we can expect in the new year. Based on my own observations, I would like to share five key expectations for the B2B payments industry in 2023, and how they may impact businesses and their financial operations.
Using APIs to Streamline Investing
In today’s dynamic market environment, treasury practitioners must frequently adapt to change while not losing sight of key fundamentals—managing cash, liquidity and investments. Investments can be especially challenging—which is why some organizations are looking to APIs to help streamline the process. At KyribaLive 2022, MetLife, Kyriba and ICD participated in a panel discussion on how APIs drive transformative value in challenging markets. With interest rates finally rising, organizations will want to embrace the best technologies to help them invest wisely.
Real-time Payments and Large Value Payment Systems
The world of payments is interconnected. Innovations don’t happen in isolation, and often depend on what we are deeply familiar with. It’s a mistake to either completely overlook an innovation or consider it to be an end-all, be-all. Real-time payment1 is one such innovation. In this blog, I illustrate the interdependence of real-time payments with the traditional Large Value Payment Systems (LVPS)2 and how real-time payments may influence their evolution for the benefit of customers. I outline different flavors of settlement3 models used for real-time payments, explain how they work, and their operational implications on the traditional LVPS system. I use specific examples to illustrate my point with a focus only on the back-end interbank settlement.4 I also list the key points I cover in this blog for your quick reference.
Kyriba and J.P. Morgan Payments Launch New Real-Time Treasury Solution
SAN DIEGO – November 29, 2022 – Kyriba (“the Company”), a global leader of cloud-based finance and IT solutions, and J.P. Morgan Payments, today announce a new real-time treasury solution with a new API that delivers real-time cash visibility and bank reporting, which will be made available to their mutual clients. The end-to-end process automation, using J.P. Morgan’s open banking API capabilities, enhances existing API-based connectivity and enables more frequent data retrieval and status updates to power real-time decision making on investing cash balances. A mutual client, Hunt Companies, has already gained efficiencies and value from having these enhanced capabilities.
All About APIs Podcast - Daniil Saiko shares API-led product growth lessons from the financial services industry
API continues to be a hot topic in FinTech. With Tyk we try to dive in and cover topics like, what API lead growth means for a company. And why are the technical problems often the easiest problems when it comes to API products?
IT Leaders Expect API Use and Adoption to Increase
API usage and adoption has increased and is expected to expand over the next year, according to a new survey by Kyriba and Gartner Peer Insights. The survey results indicate a clear trend of relying on APIs for the quick transfer of data and the seamless integration of disparate systems.
Three Reasons to Add Real-time Payments to Your B2B Payments Mix
If you are reading this, you are likely already exposed to the hype surrounding real-time payments. Whether you believe in the hype or not, it is inevitable that real-time payments will become ubiquitous globally in the near term. The last two decades have shown that countries with a strong mandate for real-time payments tend to have robust adoption. For example, emerging economies like India and Brazil that have implemented central bank mandates are outpacing developed nations like the U.S in terms of customer adoption.
ICD Joins Kyriba Liquidity Network With Addition Of Real-time Investments
Constantly challenged with new data and reporting requirements to support the business, treasury organizations are turning to modern technologies for greater visibility, accuracy, and speed. By leveraging Kyriba’s API, ICD creates a seamless, end-to-end workflow for clients to gain control over their liquidity management and investment processes.
Real-time B2B Payments - Opportunities & Challenges
As a payment practitioner, I have spent over a decade helping clients adopt innovations that digitize the entire customer journey in which payments tend to be one of the most important steps. For example, in the B2B e-commerce context, a bad payment experience can equate to a lost sale at checkout.
APIs - Enterprise Maturity and Use Cases
Most IT leaders take advantage of APIs to support developers and improve business. With plans to continue their integration of APIs, we investigate the state of API adoption across the enterprise as well as examine both internal and external use cases. What impacts do IT leaders expect APIs to have now and in the future? Gartner Peer Insights and Kyriba surveyed 200 IT leaders to learn more about the state of their organization’s API portfolio, and current and future trends.
The Role of AI in Liquidity Management
Emerging technologies are changing the way finance functions operate, opening up new opportunities for treasury and enabling teams to deliver increased value to the organization. As a new decade emerges, executives are looking to artificial intelligence and machine learning as a means for enhancing overall operations.
Fair queueing for payment batches
In the previous article of this series, which aims at exploring ways to optimize instant payments and banking, Oleksii Pylypenko, CaaS Tech Lead, wrote how Kyriba has improved upon the pooling process for instant payments. In this second article, Oleksii dives into batch payments.
Why Did Kyriba Build an App Marketplace?
Kyriba’s decision to build an app marketplace came from a desire to provide our customers with the latest technology, while fostering innovation in the API space. As organizations’ needs shift and evolve, we want to ensure that all those needs are addressed—whether through our own capabilities or through technology developed by our partners.
Hunt Companies’ Early Adopter Strategy for Real-Time Payments Sees Immediate Cost and Efficiency Gains
Hunt Companies is at the forefront of the Real-Time Payments (RTP) movement. Adopting the technology to lower bank wire fees and reducing the time spent correcting rejected payments has already provided significant gains in both hard and soft savings.
Postman Flows - Introduction to a new powerful tool
Postman Flows is a new tool developed by Postman. Basically, Postman Flows is a feature that provides a canvas interface with widgets that you can drag and drop and link them together to form a sequence of actions. In the past, if you wanted to create a sequence of Requests with Postman or you wanted to get the value from the Response to pass on to the next Request, you had to know how to use JavaScript and had to code them.
Kyriba partners with VivaTech to Sponsor Global FinTech Hackathon
Come hack with us on our first OPEN HACKATHON, where we partner with VivaTech! Liquidity, or “cash availability”, is the lifeblood of every business and technology is the most powerful tool for change. Leveraging technology to manage liquidity enables corporates to transform the way they build resiliency, generate value, and unlock growth.
APIs Drive Enterprise Value
A recent study by research firm IDC identified that 90% of finance leaders have already implemented or expect to incorporate APIs within their financial technology stack. With global banks continuing to open their platforms to customers and FinTech apps, it is for good reason that CFO’s expectations should be high. And while bank connectivity is a good place to start, the value of APIs goes well beyond connecting treasury platforms and ERPs to banks.
Kyriba and ICD Launch API to Power Automation, Liquidity Insight Across the Investment Workflow
The API integration enables treasury teams to research, trade, analyze, and report on investments. In addition, joint clients can sweep excess bank balances into money market funds to ICD from their Kyriba Dashboard.
Exploring HTTP Pooling Improvements for Instant Payments
Instant payments initiatives have been gaining momentum, with systems under development all over the world. In this series of articles, we will describe key findings regarding possible performance optimizations for instant payments and banking in the form of proof of concepts and measured outcomes. This piece explores how Kyriba has improved upon the pooling process for instant payments.
Kyriba Announces 24 New ERP API Connectors to Accelerate Liquidity Management and Support Business Continuity
Kyriba ERP APIs are the most advanced in the market, offering real-time connectivity and multiple bi-directional workflows to streamline integration of new or acquired ERPs, migrate from on-premise to cloud solutions, and unify enterprise-wide data from ERP and other third-party solutions. Learn More will bring you to the main article page, where you can find out more about the possibilities that Kyriba's ERP systems offer.
APIs - A Bridge to the New Decade
Although digital transformation efforts are well underway and SaaS is a proven paradigm, legacy solutions are still among us. They manifest via mainframes, older versions of ERP systems and internally developed core platforms. Learn More will bring you to the main article page, where Daniil Saiko, Kyriba's Director of Product Management API, lays his vision on the potential and future for APIs.
A Guide to OAuth2.0 Authorization with Django Rest Framework
API handles resources important and personal to us and our users. Because of this, some level of security is needed. Go check this article to know more about the OAuth2 authorization model used by Kyriba's APIs.
The Wrong Way to API - What Happens When You Don't Follow a Design-First Approach
We always recommend the "design-first" approach above all else when it comes to your API strategy — but what happens if you don't follow that advice? Check this article to know more about what NOT to do, from the point of view of Stoplight's CEO, Steve Rodda.
Kyriba Awarded World’s Best Treasury Management Software and Open Banking Treasury Solution by Global Finance Magazine
We are super proud to have been awarded by Global Finance Magazine as the world’s best treasury management software, and especially, as the world’s best open banking treasury solution! Since our preview in June 2021, we have received feedback from many registered developers that helped us to improve the developer experience, and content of the portal. This award is a great market recognition for our efforts. We would like to thank all of you for this. Please read the full press release by clicking on “Learn More”.
First Imperial College Business School Hackathon sponsored by Kyriba is over and we are excited with the results!
On the weekend of 3rd to 5th of December, the first Imperial College Business School Hackathon sponsored by Kyriba took place and the participants got the possibility to find solutions to two challenges proposed by Kyriba. The first challenge consistent in coming up with an idea for a Smart API Connector to ERP. The team taking on the challenge got the opportunity to test our Task APIs and got some inspiration from our Sample Tutorials. Team taking on the second challenge, related to Treasury Optimization for cash management, got some help from our specialists and used our Liquidity APIs to propose their solution. Can you believe they ended up being the victorious team?! If you would like to learn more about the event, please click on the "Learn More" button. It will lead you to an article created by our Business Analyst who attended the event, Kevin Delmaestro.
Java 17 Features and Migration Considerations
Java has changed considerably over the years. In this article, Dariusz Wawer, Tech Lead of the Data Apps team at Kyriba, offers a comparison of versions 8 and 17, and gives the answer to the question: is upgrading a good idea?
Using API-First Development and API Mocking to Break Critical Path Dependencies
Check out this Article on InfoQ about API-First approach development and API Mocking, explained in technical steps. All of that, based on a practical case study, broken down by the author.
APIs - A lever for simplifying and enhancing the customer experience
Cecile Bartenieff, COO of Global Banking & Investor Solutions at Société Générale about APIs, with concrete use cases, including how Kyriba and Societe Generale leverage APIs to provide RealTime treasury to corporates.
FaaS-like Spring microservices with autoscaling in Kubernetes
Tutorial shows how to create a basic application demonstrating an approach to writing simple "function-based microservices". It explains how to create such microservices, as well as deploy them, setup autoscaling, metrics gathering, and tracing. Learn more will bring you to ITNEXT website to read the full article.
NFTs in trade finance - the next frontier or bad idea?
Supply chain is certainly today the most strategic asset of most large buyers. In this context, the supply chain finance platforms are becoming a must have across all industries. And it is just the beginning. Blockchain technology is about to revolutionize the market by unlocking the financing to deeper suppliers and the diversification of the funding sources to alternative money managers. An incredible opportunity for the millions of businesses who are facing a total of $1.5 gap in trade finance according to the World Economic Forum. Learn more will bring you to Global Trade Review website to read the full article.
Why A data mesh to power up our Active Liquidity Network
Kyriba's mission is to support corporate finance digitisation on all liquidity and cash related items. And Kyriba's strategy to deliver on that mission is to build the first and leading open platform for enterprise liquidity management. I'm managing Kyriba data engineering team and part of our work is to build the data platform required to enable this strategy. The role of this platform is to support our data engineers, internal teams, partners and ultimately our customers to get access to actionable insights based on their data. That's our context, we want to enable the Kyriba ecosystem to create more value from their data.
Production ready Jupyter Notebooks
Python Jupyter notebooks are fundamental part of Data Science prototyping. Deploying this code in efficient manner is troublesome and it often means copy-pasting the prototype into the final product. Later when the product requires new features the code is copied once again, which is human error prone.