JPMorgan, Kyriba turn to open development for real-time corporate payments
Cloud-based treasury software provider Kyriba is partnering with JPMorgan Chase to launch a real-time payments API integration for its mutual corporate finance clients.
San Diego-based Kyriba says it is the first treasury management platform to offer real-time payments to its JPMorgan corporate customers in the U.S., delivering the service through The Clearing House Real-Time Payments rails.
JPMorgan has made the RTP available through API integrations in an effort to expand real-time payments and open banking initiatives.
The service will allow corporate chief financial officers and treasurers to expand payment choices and add visibility to payment activity, while also cutting the costs of check payments and manual processes.
In addition to faster payment transmission, The Clearing House's RTP network can deliver payments on demand, which simplifies the reconciliation and back office application of payments as compared to managing batch files.
Kyriba focuses on payments and bank connectivity, processing more than 83 million bank transactions, 30 million payments and 530 million enterprise resource planning transactions for clients each month.