Kyriba to Provide RBC with Cloud-Based Payables and Receivables Finance Solution as the Bank Expands Supply Chain Finance Offerings for Canadian Enterprises
Kyriba, a global leader1 of cloud-based finance solutions, announced that the company will be working on providing its platform solutions and services to RBC, supporting the bank's ongoing innovation journey in supply chain finance as the bank helps its business clients optimize their working capital and cash conversion.
Kyriba's cloud platform provides institutions with payables and receivables finance management solutions to support their business clients' working capital needs. Further, Kyriba's OpenAPI platform and technology integration with over 1,000 financial institutions globally accelerates time to market and enables a more seamless integration of real-time transactions to streamline the execution of working capital programs and onboarding of suppliers and customers.
"With the cost of capital continuing to rise, it is critical that corporate finance teams unlock cash flow within their payables and receivables," said Edi Poloniato, Global Head of Banking Solutions at Kyriba. "We look forward to working with RBC to offer Canadian companies with new pathways to enhance their liquidity using innovative working capital solutions, thus strengthening their supplier and customer relationships."
"Optimizing working capital and liquidity with greater speed, efficiency and integration with diverse platforms is critical to the success of large enterprises," says Lisa Lansdowne-Higgins, Senior Vice President, Business Transformation and Deposits, RBC. "By working with Kyriba, we look forward to providing our business clients with a more robust suite of supply chain finance solutions to enhance theirworking capital positions."
To date, Kyriba connects to more than 1,000 financial institutions and 10,000 ERP instances worldwide and processes over 250 million payments annually for a total value exceeding $15 trillion. Kyriba was honored by Global Finance Magazine for its Working Capital Solutions, including being named global winner of Best Supplier Enablement for automated and transparent supplier onboarding operations.
For more information about Kyriba's Working Capital Solutions, visit Kyriba.com or visit us at upcoming finance conferences, including Sibos in Toronto on September 18-21, 2023.
About Kyriba Corp.
Kyriba empowers CFOs, Treasurers and IT leaders to transform liquidity performance and drive value creation through data-driven financial decisions. Kyriba is a secure, scalable SaaS platform that delivers intelligence and financial automation enabling thousands of multinational corporations and banks to maximize growth, improve financial resilience and increase operational efficiency. For more than 2,500 clients worldwide, including 25% of Fortune 500 and Euro Stoxx 50 companies, Kyriba manages more than 1.3 billion bank transactions and $15 Trillion in payments annually. Kyriba is headquartered in San Diego, with offices globally
About Royal Bank of Canada
Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 97,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
1 IDC, 'IDC MarketScape: Worldwide SaaS and Cloud-Enabled Enterprise Treasury and Risk Management Applications 2023 Vendor Assessment', July 2023, https://www.kyriba.com/wp-content/files_live/content/idc-marketscape-tms-vendor-assessment-2023-kyriba.pdf