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.
Pioneering Real-time Global Banking Connectivity
For two decades, Kyriba has forged a reputation as the industry’s frontrunner in corporate-to-bank Connectivity-as-a-Service. With robust integrations with 1000+ global banks, Kyriba is the world’s most connected enterprise liquidity platform.
Amazon ‘Thinks Big’ with Machine Learning Forecasting Solution
Think Big is a key leadership principle at Amazon, and the team knows how important it is to manage its capital structure efficiently at scale. While always a focus, this became even more critical as the Covid pandemic swept the globe and shoppers around the world rushed to e-commerce retailers, including Amazon, to purchase everyday goods.
Bally’s Leverage APIs and Cloud to Deliver Solution
One of Bally’s key providers of payment services is FreemarketFX with a connectivity strategy that mandates use of a REST API for statement reporting and payment initiation automation. Bally’s uses FreemaketFX to provide payments and banking services for 19 of its companies, holding 63 active bank accounts which are used by 43 users to make on average 289 payments a month.
Kyriba Leading the Charge in Cloud TMS for Both Enterprises and Midmarket
In the wake of escalating global uncertainties, businesses are constantly grappling with unknowns, making liquidity management a top priority. The recent IDC MarketScape Assessment of World-wide Saas and Cloud Treasury Management Software (TMS) Vendors for 2023 provides a compelling testament to the increasing significance of treasury software and the importance of selecting the right technology partners to embrace the full benefits.
Kyriba Appoints Visionary Leader Melissa Di Donato as New Chair and CEO
SAN DIEGO – September 5, 2023 — Kyriba, the global leader of cloud-based finance and liquidity solutions, announced today the appointment of Melissa Di Donato as Chair and Chief Executive Officer. A respected technology visionary and accomplished leader, Di Donato will succeed Jean-Luc Robert, who is stepping down from this position and will join the company’s Board of Directors.
Maturity in API governance at Kyriba
When we at Kyriba embarked on implementing API governance principles, we began with Code-First contracts, which presented many complexities in managing our APIs. These challenges often resulted in delays in software delivery and contract processes. However, we are thrilled to share that we have since made significant progress and achieved a good level of maturity in our API governance. This improvement has enabled us to streamline our operations and enhance overall efficiency, ensuring smoother software delivery and contract management.
How API and ERP Integrations Are Transforming Corporate Treasury
Adopting API technology to integrate ERP systems with treasury systems is a transformative step for corporate treasury management. Such integration facilitates real-time data transfer, ensuring that treasurers are equipped with the most up-to-date financial information for accurate stakeholder reporting and enhanced decision-making. Additionally, APIs bring heightened security in data transfers, offer scalability for growing business needs and ensure flexibility in adopting new functionalities.
Seamless API Integration Helps Treasury Get the Most Out of Cash
With cash being more important than ever and increasing pressure to make the most out of their excess reserves, treasury professionals must deploy the necessary tools for quick and easy deployment of excess cash. A panel session at KyribaLive 2023 discussed how Kyriba and global investment portal ICD’s partnership is transforming the way that treasurers can drive cash flow optimization, making the most out of their cash and treasury management tools. Bob Stark, Head of Global Market Strategy at Kyriba, Keith Payne, Managing Director of Treasury at Rollins, and Justin Brimfield, Head of Global Partnerships and Chief Marketing Officer at ICD, provide an in-depth look at how APIs enable treasury teams to optimize cash and liquidity management.
Kyriba & Goldman Sachs Asset Management Mosaic
Kyriba’s Treasury Management System now connects with Goldman Sachs Liquidity Solutions Platform, Mosaic, expanding options for treasurers and increasing ways to keep surplus liquidity invested faster and longer. The partnership streamlines investments, creating an end-to-end workflow for investing in money market funds and introducing on-demand connectivity to third-party banking and fintech services.
Harness the Power of Treasury Analytics
“There were 5 exabytes of information created between the dawn of civilization through 2003,” Eric Schmidt, still the CEO at Google in 2010, once proclaimed, “but that much information is now created every 2 days, and the pace is increasing.” Today, data has already become a ‘norm’ for almost all businesses. At KyribaLive 2023, Vincent Siccardi, Data Product Director at Kyriba, and Craig Jeffrey, Managing Partner at Strategic Treasurer, led an interesting discussion around the intersection of big data and treasury, the value of AI in treasury operations and treasury analytics, and the opportunities for treasury to truly transform business decision-making,
Large Language Models for Treasury Requests using the Kyriba API
This article delves into the groundbreaking application of Large Language Models (LLM) in treasury management solutions and explores how the strategic utilization of APIs can unlock a new era of efficiency, accuracy and intelligence in financial operations. While LLM has undoubtedly shown great promise, understanding its boundaries such as hallucinations or cut off time, is vital for leveraging its benefits effectively.
Kyriba Leads Real-Time Liquidity and Payments Surpassing 100 Million API Calls
SAN DIEGO – June 29, 2023 — Kyriba, (“the Company”) a global leader of cloud-based finance and liquidity solutions, announced today that the Kyriba platform has processed more than 100 million application programming interface (API) calls for their clients to integrate with banks, ERPs, Kyriba’s App Marketplace, and clients internal IT systems. Kyriba previously announced APIs with J.P. Morgan Chase and CitiBank and is supporting clients like Hunt Companies, as they migrate to a real-time ‘everything’ liquidity operation.
How Streamlined Bank Connectivity Enhances Business Performance for the Office of the CFO
In today’s fast-paced and uncertain business environment, the role of the Chief Financial Officer (CFO) is increasingly complex. A panel session at KyribaLive 2023 discussed how BlackLine and Kyriba, in partnership with RSM, build automated workflows through streamlined bank connectivity for joint clients and support them to enhance business performance. The discussion highlighted the importance of leveraging technology to address the evolving demands across the office of the CFO.
Kyriba SAP Integration
Currently over 1,000 Kyriba clients are using SAP as their enterprise resource planning platform and Kyriba as their treasury management system. The certified Kyriba SAP integration, including SFTP and API integration, seamlessly connects SAP with Kyriba to automate the workflow between the two platforms.
Why Digitalized Bank Connectivity is the Key to Optimizing Cash Deployment
Companies that can identify and use cash with confidence can now leverage liquidity as an asset for strategic value creation. It’s a competitive advantage that has often been overlooked, or not available, but which due to advances in digitized bank connectivity is now becoming a reality. How an organization moves, manages, stores and protects cash has costs, benefits and risks, as with any other asset. As Ruth Porat, CFO of Alphabet, has said, “There’s no question that liquidity is sacrosanct.” Today, many leading firms realize they can now treat liquidity as an asset and use it as a market weapon.
What is Treasury Data Analytics?
Treasury data analytics is the practice of using data analysis techniques to gain insights into a company’s treasury operations, including cash and liquidity management, investment portfolios, risk management, and supply chain finance. Treasury data analytics involves collecting, processing, and analyzing data from multiple sources, including bank statements, cash flow statements, financial reports, and market data.
Transforming into a Data-Driven Treasury
Each year, AFP Pinnacle Award winner Health Care Service Corporation (HCSC) becomes more data-driven, and a panel session at KyribaLive 2023 reveals how HCSC transformed their treasury operations into a data-centric system, unlocking cash flow, optimizing working capital, and unleashing 1,000+ hours of productivity.
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.