Societe Generale’s corporate clients can access the complete treasury management solution based on Kyriba’s global cloud platform
French lender Societe Generale and Kyriba, a cloud-based finance and IT solutions provider, have entered into a strategic partnership to build a new treasury management solution.
The new solution is planned to be fully hosted in the cloud based on Kyriba’s global platform and distributed by Societe Generale.
Dedicated to the corporate clients and their subsidiaries, the new solution would provide payment automation and fraud management functionalities, said the bank.
Societe Generale global transaction and payment services head Alexandre Maymat said: “Treasury management is a key area of focus for companies and we believe it is essential to make this easier through simple, efficient and secure tools.
“With our open architecture model allowing us to offer our clients the best solutions on the market, it seemed natural to partner with Kyriba, whose solutions are known for their robustness and adaptability.
“This partnership also inaugurates other collaborations that we will be keen to develop with Kyriba to ensure we can always better anticipate and meet the needs of our clients.”
Societe Generale said that its partnership with Kyriba was driven by their common goal of making daily treasury management easier for its corporate clients.
The partnership will focus on real-time monitoring of treasury positions and provisional management of liquidity flows, payment automation, banking delegation and mandate management.
Also, it aims to enhance fraud management, multi-bank connectivity and ERP, and payment validation workflow management.
The new solution is fully hosted in Kyriba’s global cloud platform and is available through SG Markets, a Societe Generale’s webpage for corporates.
The cloud treasury management solution is planned to be rolled out during the fourth quarter of 2021, initially in the French market.
Kyriba banking solutions co-head Edi Poloniato said: “We are very proud to join this strategic partnership with Societe Generale. The recent crisis has underlined the need for companies to manage liquidity as closely as possible and to control and secure their payments.
“We believe this joint solution will improve the way they leverage their cash and liquidity and become more resilient, more scalable and more competitive.
“The technological advance of Kyriba’s Active Liquidity Management Platform in terms of Artificial Intelligence and real-time will help those businesses to better withstand and take advantage of every opportunity offered by the market.”