Kyriba launches AI-based cash management tool

Monday 19 September 2022 15:28 CET | News

The fintech Kyriba, which works in treasury management software, has launched an AI-based tool, Cash Management AI.

The new tool uses historical data to improve predictions of cash availability, allowing for greater speed, reliability and control. Users can view data in dashboards with features including adjustable forecast periods and flexible filters. They also have the power to adjust forecasts in real time, by taking into account their business’s individual strategy when choosing their optimal trust level.

Alexandra Syrovatsky, General Manager, Kyriba France and Benelux, explained, as reported by Finyear, that finance teams’ inability to accurately predict cash flow beyond the short term (with only one in five being able to do so for beyond a month, according to her) led to ‘unused pockets of liquidity’ which affected ‘resilience and profitability.’

Senior Vice-President of Data Analytics at Kyriba, Jean-Baptise Gaudemet, noted that CFOs need better liquidity visibility. He highlighted, according to a press release from Kyriba, that ‘[a]rtificial intelligence helps CFOs harness data to make more informed, rapid and effective decisions.’ Bob Stark, the company’s Global Head of Market Strategy, noted that ‘since the opportunity cost of cash is also increasing, CFOs are demanding greater confidence in their cash forecasts to optimize enterprise liquidity.’

The company cites figures from an IDC white paper it commissioned, which found that nearly all (99%) of finance leaders have ‘adopted business intelligence to make better liquidity decisions,’ according to the press release.

The fintech Kyriba, which works in treasury management software, has launched an AI-based tool, Cash Management AI.


Recent timeline of partnerships and product launches from Kyriba

In June, Kyriba launched Kyriba FX, with correlated VaR analysis which allowed businesses to make more data-backed decisions regarding the management of exposure and hedging strategies. The same month, it featured among the top five most innovative global financial technology companies of the year, as declared by Global Finance Magazine.

In April 2022, Kyriba announced that it had integrated 24 new API connectors with its cloud platform, speeding up access to real-time payments and enterprise liquidity management.

Last September, Kyriba launched an Open API platform which offered companies composable technology solutions, and access to a payment network with an annual worth of USD 15 trillion dollars.

In August 2021, Kyriba partnered with payments fintech Openpay, allowing Kyriba’s clients to access Openpay’s B2B payments Software as a Service solution.

In June 2021, Kyriba partnered with Société Générale to create a new treasury management solution, which included features such as ‘payment automation and fraud management functionalities,’ as stated in Kyriba’s press release.

Founded in 2000, and headquartered in the US (San Diego), Kyriba has 2,500 clients across the globe, in 100 countries, and over 80,000 users. Every year, it handles over 2.3 billion bank transactions.

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: cash management, product launch, fintech, API, Open Banking, treasury
Categories: Banking & Fintech
Companies: Kyriba
Countries: United States
This article is part of category

Banking & Fintech


Discover all the Company news on Kyriba and other articles related to Kyriba in The Paypers News, Reports, and insights on the payments and fintech industry: