Kyriba’s solution will be used by the bank to expand on its ability to provide its Canadian commercial clients with integrated and enhanced working capital solutions
Kyriba, a global leader 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.
“With the cost of capital continuing to rise, it is critical that corporate finance teams unlock cash flow within their payables and receivables”
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.
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“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 their working capital positions.”
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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.
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