Latest news with #Kyriba
Zawya
11 hours ago
- Business
- Zawya
Bank of Africa Group launches working capital platform on Kyriba for 20-country network
DUBAI, United Arab Emirates --(BUSINESS WIRE)-- Kyriba, a global leader in liquidity performance, today announces its collaboration with the Bank of Africa Group. Bank of Africa, one of the largest Pan-African banking groups, has completed the implementation of Kyriba's Working Capital platform to deliver enhanced digitized supply chain finance capabilities across its extensive network serving 20 African countries. The first phase of the project facilitates working capital management for The Group's customers in Morocco with plans to expand to other markets. Bank of Africa has onboarded its first customer, with the aim to bring on several new customers in 2025. This collaboration underscores Kyriba's continued growth in the region and globally, as well as its unmatched receivables and payables finance solutions, dynamic discounting and supplier onboarding. Kyriba's expertise and platform will enable Bank of Africa Group's customers to enhance cash flow, strengthen supplier relationships, and maintain sustainable growth amid economic uncertainties. 'Bank of Africa Group's adoption of Kyriba's Working Capital solution demonstrates their commitment to innovation and underscores our ability to meet the complex needs of financial institutions in today's complex and volatile global economy. As the industry evolves, banks that embrace digitization and automation will be best positioned to lead—modernizing operations, gaining real-time visibility, and delivering more value to clients. Together, we look forward to setting a new standard for innovation and efficiency in African supply chain finance," said John Stevens, Kyriba's Global Head of Capital Markets, Financial Institutions & Working Capital. Kyriba has also seen incredible growth in the volume of working capital financing among both banks and corporates, growing nearly 5X since 2020 and more than doubling the number of invoices uploaded to the platform. This surge highlights the increasing focus on unlocking trapped liquidity and mitigating market volatility through working capital solutions, which can unlock cash flow by accelerating payables and accessing receivables. With over 6,500 employees and a legacy spanning more than a century, Bank of Africa Group is a key financial enabler empowering businesses and enhancing economic opportunities in Africa. 'Kyriba stood out to us for its local expertise, customer-centric approach, comprehensive product offerings, and proven impact delivering working capital efficiency to customers across the continent and world. We are excited to work with Kyriba to unlock new levels of financial insights that can help us optimize working capital and achieve operational success,' said Adil Lahbichi, Executive Director – Global Transaction Banking, Bank of Africa Group. The African supply chain market is poised for rapid growth, driven by increasing demand for working capital optimization. Bank of Africa Group's implementation of Kyriba's platform demonstrates the immense potential for digitized working capital solutions across the region. About Kyriba Kyriba is the global leader in liquidity performance, empowering CFOs, Treasurers and IT leaders to connect, protect, forecast and optimize their liquidity amid economic complexity. As a secure and scalable SaaS solution trusted by 3,000 customers, Kyriba delivers intelligence and financial automation through innovative technologies — including its trusted agentic AI (TAI) — bringing precision, efficiency, and insight to financial operations. With an expansive ecosystem of banking, technology and consulting partners, Kyriba's platform powers more than 3 billion bank transactions and $15 trillion in payments across 9,900+ banks annually – helping companies gain enterprise-wide visibility, ensure financial stability, and outperform their business strategy. About Bank of Africa Group BANK OF AFRICA is a multinational and multi-trade banking group. It was incorporated by Royal Dahir in 1959 under the name of Banque Marocaine du Commerce Extérieur, and has been transformed over more than 60 years to become BANK OF AFRICA since 2020, a universal bank that puts its expertise at the service of innovation, progress and excellence. Thanks to its large banking network on the continent and its international influence, BANK OF AFRICA is determined to take part in the emergence of Africa to make it the continent of the 21st century. Present in 32 countries across Africa, Europe, Asia and North America, BANK OF AFRICA has one of the leading banking groups in Africa, with nearly 2,000 branches. It serves 6.6 million customers worldwide and positions itself as a key economic bridge between Africa and the rest of the world.
Business Wire
14 hours ago
- Business
- Business Wire
Bank of Africa Group Launches Working Capital Platform on Kyriba for 20-Country Network
DUBAI, United Arab Emirates--(BUSINESS WIRE)-- Kyriba, a global leader in liquidity performance, today announces its collaboration with the Bank of Africa Group. Bank of Africa, one of the largest Pan-African banking groups, has completed the implementation of Kyriba's Working Capital platform to deliver enhanced digitized supply chain finance capabilities across its extensive network serving 20 African countries. Bank of Africa has completed the implementation of Kyriba's Working Capital platform to deliver enhanced digitized supply chain finance capabilities across its extensive network serving 20 African countries. Share The first phase of the project facilitates working capital management for The Group's customers in Morocco with plans to expand to other markets. Bank of Africa has onboarded its first customer, with the aim to bring on several new customers in 2025. This collaboration underscores Kyriba's continued growth in the region and globally, as well as its unmatched receivables and payables finance solutions, dynamic discounting and supplier onboarding. Kyriba's expertise and platform will enable Bank of Africa Group's customers to enhance cash flow, strengthen supplier relationships, and maintain sustainable growth amid economic uncertainties. 'Bank of Africa Group's adoption of Kyriba's Working Capital solution demonstrates their commitment to innovation and underscores our ability to meet the complex needs of financial institutions in today's complex and volatile global economy. As the industry evolves, banks that embrace digitization and automation will be best positioned to lead—modernizing operations, gaining real-time visibility, and delivering more value to clients. Together, we look forward to setting a new standard for innovation and efficiency in African supply chain finance," said John Stevens, Kyriba's Global Head of Capital Markets, Financial Institutions & Working Capital. Kyriba has also seen incredible growth in the volume of working capital financing among both banks and corporates, growing nearly 5X since 2020 and more than doubling the number of invoices uploaded to the platform. This surge highlights the increasing focus on unlocking trapped liquidity and mitigating market volatility through working capital solutions, which can unlock cash flow by accelerating payables and accessing receivables. With over 6,500 employees and a legacy spanning more than a century, Bank of Africa Group is a key financial enabler empowering businesses and enhancing economic opportunities in Africa. 'Kyriba stood out to us for its local expertise, customer-centric approach, comprehensive product offerings, and proven impact delivering working capital efficiency to customers across the continent and world. We are excited to work with Kyriba to unlock new levels of financial insights that can help us optimize working capital and achieve operational success,' said Adil Lahbichi, Executive Director – Global Transaction Banking, Bank of Africa Group. The African supply chain market is poised for rapid growth, driven by increasing demand for working capital optimization. Bank of Africa Group's implementation of Kyriba's platform demonstrates the immense potential for digitized working capital solutions across the region. About Kyriba Kyriba is the global leader in liquidity performance, empowering CFOs, Treasurers and IT leaders to connect, protect, forecast and optimize their liquidity amid economic complexity. As a secure and scalable SaaS solution trusted by 3,000 customers, Kyriba delivers intelligence and financial automation through innovative technologies — including its trusted agentic AI (TAI) — bringing precision, efficiency, and insight to financial operations. With an expansive ecosystem of banking, technology and consulting partners, Kyriba's platform powers more than 3 billion bank transactions and $15 trillion in payments across 9,900+ banks annually – helping companies gain enterprise-wide visibility, ensure financial stability, and outperform their business strategy. About Bank of Africa Group BANK OF AFRICA is a multinational and multi-trade banking group. It was incorporated by Royal Dahir in 1959 under the name of Banque Marocaine du Commerce Extérieur, and has been transformed over more than 60 years to become BANK OF AFRICA since 2020, a universal bank that puts its expertise at the service of innovation, progress and excellence. Thanks to its large banking network on the continent and its international influence, BANK OF AFRICA is determined to take part in the emergence of Africa to make it the continent of the 21st century. Present in 32 countries across Africa, Europe, Asia and North America, BANK OF AFRICA has one of the leading banking groups in Africa, with nearly 2,000 branches. It serves 6.6 million customers worldwide and positions itself as a key economic bridge between Africa and the rest of the world.
Gulf Business
09-07-2025
- Business
- Gulf Business
Finesse drives payment centralisation for ME Solaris Commodities, enhancing efficiency for leading grain trader
Image: Supplied Finesse, a global provider of AI solutions & leading digital system integrators, has successfully collaborated with ME Solaris Commodities, one of the largest grain traders operating in the Middle East, to centralise their payment processes via Kyriba Treasury Management System (TMS). This partnership has enabled ME Solaris Commodities to overcome significant challenges in payment decentralisation, thereby enhancing operational efficiency. The comprehensive solution encompasses bank and cash management, delivering real-time insight into global cash positions, along with streamlining payment capabilities and enhanced fraud protection. This implementation has optimised ME Solaris's payment processes, ensuring secure transactions and providing real-time visibility. 'We are delighted to partner with Finesse to achieve full global visibility and control of our finances through Kyriba' – Khalid Mammadov, Chief Accountant. 'This has been a game-changer, allowing the treasury team to focus on strategic growth instead of operational issues', said Andrey Ivanov, Group Head of Treasury. 'We are proud to have partnered with ME Solaris on their Kyriba implementation. Special thanks to Mr. Andrey Ivanov for his innovative ideas and steadfast support, which were instrumental in the success of this project. It was a pleasure collaborating with such a forward-thinking team' said Manoj Panicker VP – Sales Finesse. 'We're delighted to have supported ME Solaris Commodities in unlocking greater treasury efficiencies with Kyriba. Special thanks to Mr. Andrey Ivanov for championing innovation and steering this project to success' said Dhwani Sejpal, VP – Treasury Transformations at Finesse. Adding to this Dheeraj Khanna Pendum, AVP – Kyriba Projects commented 'We value the trust ME Solaris Commodities placed in us for this strategic implementation. Working alongside this team, whose vision and commitment inspired us throughout, has been truly rewarding.' ME Solaris Commodities is now better equipped to handle complexities, using real-time data and analytics for strategic decisions. The implementation has provided benefits such as real-time cash visibility across currencies and regions, streamlined payments, and improved financial control. Finesse thanks ME Solaris Commodities for trusting us with this initiative. Their cooperation and commitment were key to the project's success. We look forward to supporting ME Solaris's ongoing growth.
Associated Press
13-05-2025
- Business
- Associated Press
Kyriba Unveils Agentic AI TAI to Transform Finance with Security, Compliance & Trust
SAN DIEGO--(BUSINESS WIRE)--May 13, 2025-- Kyriba, a global leader in liquidity performance, today introduced its agentic AI solution, TAI – a significant advancement in the safe, compliant use of generative AI in finance operations to improve productivity and efficiency amid continued economic uncertainty. Powered by Kyriba's embedded Large Language Model (LLM) and over 20 years of unmatched global liquidity data, TAI simplifies complex workflows, identifies risks with predictive analytics, and enhances data-driven decision-making across treasury, payments, risk management and working capital. Poised to transform finance and treasury operations without relying on third-party LLM integrations, TAI is a key component of Kyriba's Trusted AI portfolio. This platform-wide approach prioritizes industry-leading data privacy while empowering enterprise leaders to make faster, smarter decisions with human judgement and responsibility at the center. Kyriba's approach directly addresses the 'Trust Gap' – the growing divide between the promise of AI-driven financial transformation and the fear of security and privacy risks. A new Kyriba survey * of CFOs and treasury leaders in the US, UK, France and Japan reveals that while 53% view AI as the most significant transformation to their role over the next five years, 76% are concerned that security or privacy risks could undermine their organization's financial health. 'While many are racing to churn out 'autonomous' finance solutions, we're hearing what leaders are really saying: adopting AI shouldn't mean compromising on security, control, or risk standards in finance and treasury. As companies continue to face economic volatility, TAI was designed to optimize liquidity performance with nimble, data-driven insights – plus the assurance of integrity, visibility and ownership,' said Kyriba Chair and CEO Melissa Di Donato. TAI will be showcased at the company's annual customer conference, KyribaLive, beginning today in Orlando. Attendees will hear from Kyriba executives, industry leaders, partners and customers, including members of Kyriba's Co-Innovation Lab that piloted TAI's agentic AI capabilities such as Sodexo, Koch, Inc. and Mews. 'While leveraging AI to realize greater efficiency is top of mind, the safety and security of our data is paramount. I appreciate seeing firsthand how Kyriba puts transparency and human oversight at the forefront. As a Co-Innovation Lab member, I am optimistic about TAI's potential to enhance our treasury and payment processes, and look forward to its continued evolution,' said Yoann Kremer, Systems & Projects Manager - Enterprise Liquidity Management, Sodexo. 'Trust is phenomenally important for us at this stage as a key pivot issue for AI adoption – being able to determine if the 'right' answer is a 'true' answer. Trust is critical right now in helping to build confidence,' said Meaghan Downs, Sr. Analyst, Global Payment Solutions, Koch, Inc. 'As a scale up, we are really nimble and agile and we want to be ahead of the trend. This was a great opportunity to see how we can integrate AI into the treasury workflows by automating the repetitive tasks and focusing our time on being more productive – allowing us to focus on the decisions that we need to make to take the company forward,' said Hemant Godhwani, Head of Corporate Finance & Treasury at Mews. Transcending traditional financial tools by addressing liquidity challenges, the Trusted AI portfolio also offers innovative solutions like Cash AI, Invoice AI and Fraud Detection AI across Kyriba's product pillars. 'We're hearing loud and clear that finance leaders are excited about the potential of automation – but remain skeptical about oversight, ethics and workforce impact. Kyriba's agentic AI addresses these concerns head on with its embedded and compliant LLM approach designed to augment – not replace – human expertise, which I expect the market will welcome wholeheartedly,' added Kevin Permenter, IDC Senior Research Director, Financial Applications. Kyriba customers can preview TAI at Kyriba User Groups and KyribaLive Exchange (KLX) events around the world. For dates and locations, visit * Survey conducted Feb 18 - Mar 3, 2025 by CensusWide on behalf of Kyriba among 1,000 CFOs, Treasurers and senior financial decisionmakers working at companies with $100M+ in revenue across US, UK, France and Japan. About Kyriba Kyriba is the global leader in liquidity performance, empowering CFOs, Treasurers and IT leaders to connect, protect, forecast and optimize their liquidity amid economic complexity. As a secure and scalable SaaS solution trusted by 3,000 customers, Kyriba delivers intelligence and financial automation through innovative technologies – including its trusted agentic AI (TAI) – bringing precision, efficiency, and insight to financial operations. With an expansive ecosystem of banking, technology and consulting partners, Kyriba's platform powers more than 3 billion bank transactions and $15 trillion in payments across 9,900+ banks annually – helping companies gain enterprise-wide visibility, ensure financial stability, and outperform their business strategy. View source version on CONTACT: Media Contact: [email protected] KEYWORD: UNITED STATES UNITED KINGDOM FRANCE NORTH AMERICA EUROPE GERMANY CALIFORNIA FLORIDA INDUSTRY KEYWORD: TECHNOLOGY FINANCE APPS/APPLICATIONS CONSULTING ACCOUNTING PROFESSIONAL SERVICES ARTIFICIAL INTELLIGENCE PAYMENTS SOFTWARE NETWORKS DATA ANALYTICS FINTECH DATA MANAGEMENT SECURITY SOURCE: Kyriba Copyright Business Wire 2025. PUB: 05/13/2025 07:35 AM/DISC: 05/13/2025 07:34 AM
Business Wire
13-05-2025
- Business
- Business Wire
Kyriba Unveils Agentic AI TAI to Transform Finance with Security, Compliance & Trust
SAN DIEGO--(BUSINESS WIRE)--Kyriba, a global leader in liquidity performance, today introduced its agentic AI solution, TAI – a significant advancement in the safe, compliant use of generative AI in finance operations to improve productivity and efficiency amid continued economic uncertainty. Powered by Kyriba's embedded Large Language Model (LLM) and over 20 years of unmatched global liquidity data, TAI simplifies complex workflows, identifies risks with predictive analytics, and enhances data-driven decision-making across treasury, payments, risk management and working capital. Poised to transform finance and treasury operations without relying on third-party LLM integrations, TAI is a key component of Kyriba's Trusted AI portfolio. This platform-wide approach prioritizes industry-leading data privacy while empowering enterprise leaders to make faster, smarter decisions with human judgement and responsibility at the center. Kyriba's approach directly addresses the "Trust Gap" – the growing divide between the promise of AI-driven financial transformation and the fear of security and privacy risks. A new Kyriba survey* of CFOs and treasury leaders in the US, UK, France and Japan reveals that while 53% view AI as the most significant transformation to their role over the next five years, 76% are concerned that security or privacy risks could undermine their organization's financial health. 'While many are racing to churn out 'autonomous' finance solutions, we're hearing what leaders are really saying: adopting AI shouldn't mean compromising on security, control, or risk standards in finance and treasury. As companies continue to face economic volatility, TAI was designed to optimize liquidity performance with nimble, data-driven insights – plus the assurance of integrity, visibility and ownership,' said Kyriba Chair and CEO Melissa Di Donato. TAI will be showcased at the company's annual customer conference, KyribaLive, beginning today in Orlando. Attendees will hear from Kyriba executives, industry leaders, partners and customers, including members of Kyriba's Co-Innovation Lab that piloted TAI's agentic AI capabilities such as Sodexo, Koch, Inc. and Mews. 'While leveraging AI to realize greater efficiency is top of mind, the safety and security of our data is paramount. I appreciate seeing firsthand how Kyriba puts transparency and human oversight at the forefront. As a Co-Innovation Lab member, I am optimistic about TAI's potential to enhance our treasury and payment processes, and look forward to its continued evolution,' said Yoann Kremer, Systems & Projects Manager - Enterprise Liquidity Management, Sodexo. "Trust is phenomenally important for us at this stage as a key pivot issue for AI adoption – being able to determine if the 'right' answer is a 'true' answer. Trust is critical right now in helping to build confidence,' said Meaghan Downs, Sr. Analyst, Global Payment Solutions, Koch, Inc. 'As a scale up, we are really nimble and agile and we want to be ahead of the trend. This was a great opportunity to see how we can integrate AI into the treasury workflows by automating the repetitive tasks and focusing our time on being more productive – allowing us to focus on the decisions that we need to make to take the company forward,' said Hemant Godhwani, Head of Corporate Finance & Treasury at Mews. Transcending traditional financial tools by addressing liquidity challenges, the Trusted AI portfolio also offers innovative solutions like Cash AI, Invoice AI and Fraud Detection AI across Kyriba's product pillars. 'We're hearing loud and clear that finance leaders are excited about the potential of automation – but remain skeptical about oversight, ethics and workforce impact. Kyriba's agentic AI addresses these concerns head on with its embedded and compliant LLM approach designed to augment – not replace – human expertise, which I expect the market will welcome wholeheartedly,' added Kevin Permenter, IDC Senior Research Director, Financial Applications. Kyriba customers can preview TAI at Kyriba User Groups and KyribaLive Exchange (KLX) events around the world. For dates and locations, visit * Survey conducted Feb 18 - Mar 3, 2025 by CensusWide on behalf of Kyriba among 1,000 CFOs, Treasurers and senior financial decisionmakers working at companies with $100M+ in revenue across US, UK, France and Japan. About Kyriba Kyriba is the global leader in liquidity performance, empowering CFOs, Treasurers and IT leaders to connect, protect, forecast and optimize their liquidity amid economic complexity. As a secure and scalable SaaS solution trusted by 3,000 customers, Kyriba delivers intelligence and financial automation through innovative technologies – including its trusted agentic AI (TAI) – bringing precision, efficiency, and insight to financial operations. With an expansive ecosystem of banking, technology and consulting partners, Kyriba's platform powers more than 3 billion bank transactions and $15 trillion in payments across 9,900+ banks annually – helping companies gain enterprise-wide visibility, ensure financial stability, and outperform their business strategy.
