Kyriba releases bank relationship management module

Source: Kyriba Corporation

Kyriba Corporation, pioneering web-based treasury management solutions since 2000, answers the growing need for enterprise-wide visibility and control with the recent development of its all-inclusive Bank Relationship Management module.

The Kyriba BRM module affords both corporate and financial institutions full bank account administration and bank fee analysis integrated within a dynamic treasury management platform, KyribaTi. For those companies already using other treasury systems, Kyriba's BRM module is available as a "standalone" solution that can be integrated with any existing third-party system (bank, TWS, ERP, legacy, etc.) and deployed swiftly.

The Kyriba BRM module is a Sarbanes-Oxley compliant solution facilitating signatory management and managed workflow for bank account opening/closing, thereby immediately enabling a higher level of control around sensitive data and processes. Moreover, users have the ability to automate and custom-tailor confirmation letter generation for bank account inventory and account balance verifications, authorizations, signatories, etc., all of which can be linked directly with email, peripherals, etc. for a true straight-through process.

Full Bank Fee Analysis has also been incorporated into the Kyriba BRM allowing companies to manage banking relationships more effectively, automate the fee reconciliation process, and instantly benchmark banking costs across all financial relationships globally.

The technology Kyriba employs brings significant benefits to treasury organizations that were mostly non-existent before. Companies can now more effectively manage the documentation process by attaching any document in various electronic formats (PDF, Excel, Word, etc.) to accounts, entities/subsidiaries, and transactions while limiting access down to the "user" level. Whereas stringent document management has typically been viewed as a "best" practice, the process is now mandated by Sarbanes-Oxley and other legislations.

Jean-Luc Robert, Kyriba's CEO, notes "We are very pleased with the introduction of Kyriba's BRM. In the past, Treasury professionals had to rely on several manual and disjointed processes or expensive systems to administer their bank accounts and reconcile bank charges. The integration of these capabilities into a robust treasury workstation is long overdue and increasingly relevant given today's global regulatory environment."

Kyriba's clients realize a level of automation, efficiency, and control not previously obtainable in the global market. End users are able to leverage real-time visibility into each and every bank account globally via direct bank connections proactively monitored by Kyriba's Connectivity Hub. Thus, users attain a complete view of all transactions and current account balances across all financial relationships "to the penny."

Whereas in the past, organizations had to rely on segregated or "add-on" systems that were costly to procure, implement, and maintain while taking substantial time to deploy, the Kyriba BRM is fully integrated in a treasury management solution. Global deployment can be achieved in days facilitating anywhere, anytime access (with user-defined security), and Kyriba's per-user, "subscription-based" pricing model eliminates economic barriers that formerly prevented treasury professionals from utilizing the best tools.

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