Societe Generale and Kyriba join to provide cloud treasury management solutions
With businesses and firms having priority on safety, speed, reliability and magnitude, commercial payments companies and banks have started to make corporate treasury services their priority to offer better and focused treasury management products and services.
France based investment banking firm, Societe Generale has announced a strategic partnership with California based software-as-a-service provider, Kyriba to launch a new treasury management solution.
Under this solution, it will include e payment automation and fraud management functionalities and this will be used in Bank’s corporate clients and its subsidiaries. The solution is cloud-based and it is based on Kyriba’s global platform and will be distributed by Societe Generale.
“Treasury management is a key area of focus for companies and we believe it is essential to make this easier through simple, efficient and secure tools. This is even more important as we exit the current crisis and, depending on their size, some companies are poorly equipped in this area”, said Alexandre Maymat, Head of Global Transaction and Payment Services at Societe Generale.
This year, Citi Treasury and Trade Solutions rolled out Citi Services Insights while Hazeltree and Goldman Sachs partnered on treasury management solutions.
The treasury management solution will have functionalities such as real-time monitoring of treasury positions and provisional management liquidity flows, payment automation, banking delegation and mandate management, fraud management, and multi-bank connectivity and ERP support.
According to the press note, this is a fully hosted cloud management solution and will offer easier implementation and seamless updates and it also notes since this solution is based on that this solution would ‘offer the same level of quality as those offered to the world’s largest companies, in terms of data management, cybersecurity, business processes and innovation’.
The solution will be launched in the fourth quarter of 2021 starting with the French market.
Kyriba is a SaaS platform with 2000 clients globally and it works in treasury, risk, payments and working capital with external sources such as banks, ERPs, trading platforms, and market data providers.