Kyriba, the global leader in cloud treasury and finance solutions, today announced that one of its clients, Naval Group, is now live with Swift gpi for Corporates, a new cross-border payments feature from Swift, the world’s leading provider of secure financial messaging services.
The new payments feature, coupled with Kyriba’s secure payments solutions, empowers joint clients with greater transparency, and faster confirmation of sent and received payments. Naval Group, an international high-tech company and leader in naval defense systems, was among the first to complete a payment through the SWIFT gpi early adopter program. SWIFT gpi offers yet another option for Kyriba clients to optimize their payments experience world-wide.
“Naval Group is committed to maintaining the highest standards in compliance, and the new Kyriba SWIFT gpi offering helps our team to strengthen payments transparency and traceability so we can expand our position as the European leader in naval defense,” said David Livi, vice president of treasury and financing at Naval Group.
According to Livi, the new service will also help protect payments for Naval Group’s clients and suppliers in the 18 countries where the company operates.
“We are proud to be the first high-tech company in naval defense to use the new SWIFT gpi feature powered by our Kyriba platform,” Livi said. “The first payment was successfully made with Société Générale.”
Kyriba delivers superior payments options and bank connectivity for more than 2,000 clients worldwide. Through its secure, highly scalable SaaS platform, Kyriba processes more than 83 million bank transactions, 30 million payments and 530 million ERP transactions on behalf of its clients each month.
“SWIFT gpi for Corporates delivers much needed payments efficiencies so our clients can improve their payments outcomes and reduce risk,” said Bob Stark, vice president of strategy for Kyriba. “Faster payments and transparency are central to mobilizing global liquidity for our clients. With SWIFT gpi, Kyriba clients will have access to an increased number of modern payment options.”
The SWIFT global payments innovation (SWIFT gpi) is the largest change in cross-border payments over the last 30 years and is the new standard. SWIFT gpi dramatically improves the customer experience in cross-border payments by increasing their speed, transparency and end-to-end tracking. Hundreds of thousands of cross-border payments, totaling over $300bn, are sent every day using the new gpi standard.
In the first half of 2019, Kyriba launched APIs (application protocol interface) with Citi bank for faster payments and with JP Morgan bank to enable real-time payments; and in 2018, partnered with World First to increase the speed and transparency of cross-border payments and reduce transaction fees for its corporate clients in Europe. These new connectivity and payments options are part of Kyriba’s commitment to seamlessly bridge global financial systems so finance executives can better mobilize their liquidity and unlock value across their organization.