Bob Stark, vice president of strategy for Kyriba

Cloud treasury and finance solutions provider, Kyriba, has launched a real-time payments (RTP) service through J.P. Morgan’s API. The new service will enable Kyriba’s and J.P.Morgan’s clients to send real-time payments in the U.S. through The Clearing House’s RTP Network.

“Kyriba’s vision to broaden the payment choices available to corporate CFOs and treasurers aligns with J.P. Morgan’s open banking initiatives. Our clients value the option to transmit real-time payments, and the API integration we have implemented with Kyriba enables these payments to be processed and confirmed within seconds,” said Sairam Rangachari, global head of Open Banking at J.P. Morgan. “Together we have launched the next generation of payments technology to truly modernize the payments experience for our joint clients.”

According to the supplier, this development contributes to Kyriba’s goal of bridging global financial systems and mobilizing global cash and liquidity. Real-time payments enable faster payment transmission and acknowledgement along with simplification of reconciliation and back office application of payments.

“Our API integration with J.P. Morgan means Kyriba is the first treasury management provider and first payments hub solution to offer real-time payments to J.P. Morgan corporate customers,” said Bob Stark, vice president of strategy for Kyriba. “The speed and frictionless experience that the integration with J.P. Morgan offers is a breakthrough for our clients who want to extend real-time payment automation to their ERP and treasury systems.”

Recently, Kyriba announced a new API integration with Citi which will give Kyriba clients access to faster payments, transparency and standardization.

Founded in 2000, Kyriba delivers a secure SaaS enterprise platform coupled with advanced bank connectivity and a seamlessly integrated solution set for tackling financial challenges. It delivers payments and bank connectivity solution and processes around 83 million bank transactions, 30 million payments and 530 million ERP transactions.

by Megha Bhattacharya
Market Analyst at IBS Intelligence