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Kyriba unveils ‘first of its kind’ innovation with Onyx by J.P. Morgan

Kyriba unveils ‘first of its kind’ innovation with Onyx by J.P. Morgan
  Kyriba , a specialist in liquidity performance, announced what it describes as a “first of its kind innovation” with  Onyx , J.P. Morgan’s blockchain business unit, to improve cash management, payments and liquidity performance for CFOs and Treasurers.

Furthermore, a new partnership with  Workday, Inc.  will fully embed bank reporting and bank payment connectivity for Workday Financial Management to help Workday customers achieve greater banking agility.

Ara Gopal, global VP, partnerships & alliances, Kyriba, said: “Today, CFOs struggle with disconnected systems, ongoing liquidity uncertainty and limited visibility into the financial health of their business.

“Kyriba is committed to cultivating the industry’s strongest partner ecosystem and we are thrilled to be extending our innovation through our latest partnership with Workday and collaboration with Onyx. Our comprehensive partner ecosystem drives innovation and helps customers outperform their strategic goals by providing implementation expertise, best practices and accelerated time-to-value.”

Together with Onyx’s Blockchain Deposit Account product, JPM Coin, Kyriba leverages the power of blockchain and efficiency of real-time payment processing to increase end-to-end payments transparency. For the first time, Kyriba said customers can operate their JPM Coin Blockchain Deposit Accounts (BDAs) within Kyriba’s treasury management system (TMS), enabling treasury teams to facilitate real-time cross-border transfers on a permissioned distributed ledger. 

This innovative cross-border payment solution is complemented by real-time payments and real-time bank reporting through the J.P. Morgan’s Global Payments API, available within the Kyriba Marketplace. 

Abhinav Natarajan, global product head of JPM Coin, said: “Our mutual clients can leverage blockchain technology and conduct cross-border commerce with speed, transparency, and added certainty through the JPM Coin integration.

“By integrating our Blockchain Deposit Accounts into their existing TMS workflows, clients can initiate and manage real-time settlements, unlocking the potential of 24/7 money movement. This is an exciting step in our ongoing collaboration with Kyriba.”

Tackling the complexities of bank integration and enabling consumer-like experiences inside Treasury platforms is core to J.P. Morgan’s Payments strategy. “Our collaboration with Kyriba is an excellent example of how J.P. Morgan’s integrated digital solutions are empowering clients to unlock real-time treasury services, including payments, reporting, and now blockchain-based transactions, lowering implementation barriers, improving operational efficiencies, and enabling our mutual customers to redeploy resources to their value-add business tasks”, said Papa Faye, Global Head of J.P. Morgan Payments Integrated Digital Solutions.

Embedding Bank Connectivity in Workday Financial Management  

In a new partnership with Workday, a leading provider of solutions to help organizations manage their  people  and  money , Kyriba and Workday will embed bank reporting and bank payment connectivity for Workday Financial Management to help Workday customers reduce reliance on IT resources to build and manage bank integrations, and proactively monitor and address bank connectivity and file format changes.

Powered by Kyriba and available now, Workday Bank Connectivity will provide Workday customers with pre-built connectivity and formats for over 250 global banks including access to Kyriba’s development library of 50,000 pre-tested payment format scenarios, helping accelerate customer time to value. 

This agile and simplified integration further extends the availability of Kyriba capabilities for Workday customers and finance teams around the world, cementing its place as the global leader in bank connectivity supporting over 100,000 unique bank connections and 3.5 Billion bank transactions annually.

Gopal added: “Every CFO needs connectivity to their global banks to achieve 100% cash visibility and payment certainty so they can mobilize cash and optimize liquidity. Embedding Kyriba Connectivity into Workday Financials allows customers unprecedented access to pre-built bank connectors to the world’s most important financial institutions and helps them reduce complexity, risk and delays in their ERP implementations.”

Connecting liquidity to companies’ strategic advantages through our partner ecosystem

Kyriba, which has the largest partner-focused treasury technology ecosystem in the world, has expanded its Global Partner Network, featuring an unparalleled breadth of partners consisting of CFO advisory firms, certified implementation partners, technology and independent software vendors (ISVs) and investment management firms. 

Kyriba’s partner ecosystem is a key pillar for its growth and success for its customers. In addition to serving banks and ERPs, Kyriba is dedicated to advancing its offerings through its newly expanded partner network, including: 

Global advisory firms such as  Deloitte  and  PwC  provide Kyriba clients with expert guidance on treasury best practices, digital transformation, regulatory compliance, risk management and CFO strategy. Partners such as Deloitte have made strategic investments in developing a global Kyriba network and are delivering the largest and most complex Kyriba implementations.

Certified Implementation Partners  With over 900 certified consultants globally, implementation partners such as  Accenture ,  Clearsulting ,  Elire ,  Nitor ,  RSM US LLP  and others deliver high quality implementation services, coupled with subject matter expertise and leading practices to help customers shorten treasury, payments and connectivity projects and reduce the time-to-value for their technology investments.

Technology partners In addition to ISV partners such as  Blackline  and  Netsuite , Kyriba has selected  AWS  as its preferred cloud provider. This relationship leverages the scalability, security, reliability and global reach of AWS to deliver Kyriba’s solutions worldwide. Kyriba continues to work with AWS to offer differentiated, industry-specific solutions to customers and Kyriba offerings will be available to customers through the AWS Marketplace later this year.

API Marketplace partners including  BlackRock ,  BNY Mellon ,  Goldman Sachs ,  ICD ,  360T  and  LexisNexis  seamlessly integrate with Kyriba to enrich financial workflows that enable customers to execute their liquidity plan through money market investing, currency trading and real-time payment governance. 

Want to learn more about blockchain from industry leaders? Check out  Blockchain Expo  taking place in Amsterdam, California and London.

Explore other upcoming enterprise technology events and webinars powered by TechForge  here .
The post Kyriba unveils ‘first of its kind’ innovation with Onyx by J.P. Morgan appeared first on The Block . shares this Contents always with License.

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