Kyriba, providers of B2B cloud treasury and financial management solutions, announced a new API integration with banking group Citi to supply Kyriba clients access to faster payments and further standardisation.
The API integration builds upon Kyriba’s connectivity options that help bridge global financial systems so finance executives can better mobilise their cash and liquidity.
“We continuously pursue creating the best possible experiences for our clients. Our partnership with Kyriba has led to the co-creation of a frictionless treasury experience,” said Mayank Mishra, Global Head of Channel Services, Citi Treasury and Trade Solutions.
“Through embedded APIs our joint clients have access to a seamlessly integrated, fully digital experience accessing their Citi accounts instantly through their preferred Treasury platform.”
Kyriba offers a Software-as-Service (SaaS) enterprise platform, bank connectivity and an integrated solution.in more than 160 countries and jurisdictions.
The San Diego based company aim to empower financial leaders and their teams with solutions for cash and risk management, payments and supply chain finance.
They process more than 83M bank transactions, 30M payments and 530M ERP transactions on behalf of its clients each month through its global connectivity hub.
Bob Stark, VP of Strategy for Kyriba explained: “APIs represent the next generation of bank connectivity and offer robust advantages over traditional file transfer technologies.”
“We are excited to provide this new API integration with Citi to our clients as part of an emerging connectivity standard, which will offer new opportunities for real-time bank reporting, account management and payments.”
Citi recently launched a new digital account opening solution for institutional clients – available in North America and six countries in Western Europe.
‘CitiDirect’ hopes to provide its clients with an accelerated onboarding experience, replacing the legacy paper and courier based documentation process with a digital platform.
According to Citi, through the new solution, clients will be able to complete their account openings within two days.
Citi has approximately 200 million customer accounts and undertake business in more than 160 countries and jurisdictions.