11th June 2021 – Societe Generale (the Bank), one of the leading European financial services groups (most notably in the field of transaction banking), and Kyriba, a global leader of cloud-based finance and IT solutions, have today announced a strategic partnership to launch a new treasury management solution. This solution will include payment automation and fraud management functionalities, and will be dedicated to the Bank’s corporate clients and their subsidiaries. Fully hosted in the cloud, this solution will be based on Kyriba’s global platform and distributed by Societe Generale.
With the objective of making daily treasury management easier for corporate clients, Kyriba and Societe Generale have pooled their expertise to offer the following functionalities:
- Real-time monitoring of treasury positions and provisional management of liquidity flows;
- Payment automation (remittances);
- Banking delegation and mandate management;
- Enhanced fraud management;
- Multi-bank connectivity and ERP, payment validation workflow management.
Since it is fully hosted in the cloud, this solution will offer easier implementation and seamless updates. It will be available on SG Markets, the Bank’s digital client portal for corporates. Based on Kyriba’s global cloud platform, the functionalities of this solution will offer the same level of quality as those offered to the world’s largest companies, in terms of data management, cyber-security, business processes and innovation.
It will be launched during the fourth quarter of 2021 starting with the French market.
Alexandre Maymat, Head of Global Transaction and Payment Services at Societe Generale comments: “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. With our open architecture model allowing us to offer our clients the best solutions on the market, it seemed natural to partner with Kyriba, whose solutions are known for their robustness and adaptability. This partnership also inaugurates other collaborations that we will be keen to develop with Kyriba to ensure we can always better anticipate and meet the needs of our clients.”
“We are very proud to join this strategic partnership with Societe Generale. The recent crisis has underlined the need for companies to manage liquidity as closely as possible and to control and secure their payments. We believe this joint solution will improve the way they leverage their cash and liquidity and become more resilient, more scalable and more competitive. The technological advance of Kyriba’s Active Liquidity Management Platform in terms of Artificial Intelligence and real-time will help those businesses to better withstand and take advantage of every opportunity offered by the market. It is also an important step in Kyriba’s development, which will contribute to our growth in this market,” adds Edi Poloniato, co-Head, Banking Solutions at Kyriba.