BankingOpen BankingKyriba announces new real-time payments service with J.P. Morgan

Kyriba announces new real-time payments service with J.P. Morgan

Kyriba becomes the first treasury management provider to offer real-time payments through J.P. Morgan

Common clients of Kyriba and J.P. Morgan will now be able to send real-time payments (RTP) in the US through Kyriba’s RTP network, following the launch of a new service through J.P. Morgan’s API (application programming interface).

This is the latest of Kyriba’s growing connectivity options that bridge global financial systems. In addition to the faster payment transmission and acknowledgement, real-time payments on Kyriba’s RTP network can be sent on-demand, simplifying the reconciliation and back office application of payments as compared to managing batch files.

Broadening the payment choices

Sairam Rangachari, Global Head of Open Banking at J.P. Morgan said: “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.”

Bob Stark, vice president of strategy for Kyriba added: “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.

“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.”

“Together we have launched the next generation of payments technology to truly modernize the payments experience for our joint clients.”

RTP: A game changer

Real-time payments (RTP) is thought by many to be a ‘game changer’ for many corporate finance teams who require more choices in how they send payments.

In a recent rush of partnerships and product launches in payments, SWIFT and ECB tested instant cross-border payments in Europe. The Monetary Authority of Singapore (MAS) and the Bank of Canada have also performed the first blockchain cross-border payment using central bank digital currencies and distributed ledger technology (DLT).

Last month, American Express and SAP Ariba have entered into a strategic multi-phased partnership designed to offer buyers and suppliers new payment and financing options on Ariba Network, extending its value for joint large and global customers. In March, Societe Generale extended SWIFT GPI coverage where in nine new countries in Western Europe and Asia got payment standard, enabling its corporate clients to track and manage cross-border payments more efficiently.

Related Articles

Managing treasury through a spin

10 Minutes With The Treasury Managing treasury through a spin

6d Austin Clark
Do you have the best TMS for your needs?

Corporate Treasury Do you have the best TMS for your needs?

1m Austin Clark
Twin treasury pillars: FX risk and more at DAX-listed Fresenius

Automation Twin treasury pillars: FX risk and more at DAX-listed Fresenius

3m The Global Treasurer

Whitepapers & Resources

Sanction Screening: The risk for companies is real

Payments Sanction Screening: The risk for companies is real

4w
Enhancing your strategic position: Digitalization in Treasury

Payments Enhancing your strategic position: Digitalization in Treasury

1m
Are You Ready to Implement your GRC Solution?

Are You Ready to Implement your GRC Solution?

2m
Netting: An Immersive Guide to Global Reconciliation

Netting: An Immersive Guide to Global Reconciliation

4m