Kyriba Launches a Financial Portal with Commerzbank A.G.

Kyriba and Commerzbank will develop an Internet portal intended for the financial departments of corporations, the international banking network and other service providers. Through this portal, corporations will have access to all German banks and to most European banks. They will thus be able to order their payments in a secure way, to manage treasury and foreign exchange risk on line, and to access data and reports about financial markets. The service will commence in August, 2000. Kyriba Corporation, 50% owned by XRT-CERG, brings its financial ‘ metamediary ‘ know-how, that is a highly secured infrastructure for the distribution of financial services. Kyriba’s approach is to allow corporations to access ‘ impartially ‘ a great number of services, such as factoring, loans, financial markets information, portfolio management and all banking services. Kyriba also provides the technology required for the integration of its services with transactional ERP (Enterprise Resource Planning) systems, e-procurement solutions and B to B marketplaces.

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