Bank Société Generale and Software-as-a-Service (SaaS) treasury and finance provider Kyriba have announced a partnership through which the companies stated they will offer a “new treasury management solution” for Société Generale clients, according to a press release.
“This solution will include payment automation and fraud management functionalities and will be dedicated to the bank’s corporate clients and their subsidiaries,” the release stated. “Fully hosted in the cloud, this solution will be based on Kyriba’s global platform and distributed by Société Generale.”
The offering, according to the release, will include “real-time monitoring of treasury positions and provisional management of liquidity flows.” There will also be automated payments; banking delegation and mandate management; enhanced anti-fraud measures; and the ability to connect with multiple banks.
The companies stated in the release that the new offering will be available later this calendar year, initially only in France.
“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,” Alexandre Maymat, head of Global Transaction and Payment Services at Société Generale, said in the release. “This is even more important as we exit the current crisis and, depending on their size, some companies are poorly equipped in this area.”
Edi Poloniato, co-head of Banking Solutions for Kyriba, said in the release: “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.”
Société General has more than 133,000 staff in 61 countries, according to the release.
Kyriba is based in San Diego, California, and has more than 2,000 clients around the world, with offices in Dubai, Frankfurt, London, Minsk, Paris, Shanghai, Singapore, Tokyo and Warsaw, the release stated.
PYMNTS found that safety, accuracy, speed and scale are among the top priorities as companies analyze corporate treasury operations while emerging from the pandemic.