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Their use cases completes the validation of the model chosen by Kyriba for the development and marketing of future applications offered in partnership with developers on the Kyriba platform
The winning use cases will become applications accessible from the Kyriba platform and help in the fight against payment fraud
Kyriba, one of the world leaders in IT and financial solutions in the Cloud, announces that Sis ID and Trustpair have won the Open Liquidity Platform Challenge, the start-up challenge organised by Kyriba during VivaTech. This completes the validation of its application development and marketing portal project.
Two applications dedicated to fraud detection
Sis ID is a French fintech created in 2016 that supports companies in the fight against bank transfer fraud and Trustpair is a solution of reference to thwart wire-transfer fraud were judged to offer the most suitable use cases for the Kyriba platform in terms of connectivity. The judges were particularly impressed by the use of APIs and the response to current fraud detection issues faced by treasurers.
The two winners will benefit from immediate access to the Kyriba platform and dedicated technical support to develop their applications. As the first application providers on the Kyriba platform, they will also get go-to market support. The successful candidates are also now members of the worldwide Kyriba ecosystem and will get visibility with Kyriba’s 2,500 clients from June 2021.
Model validation and further development
The identification of two use cases shows the attractiveness and feasibility of its portal of applications development and marketing in the areas of payment security.
In order to pursue this approach in other areas of liquidity management such as cash management, payments, risk and working capital, Kyriba will collaborate with four other companies that took part in the challenge - Copper, Infotrie, TreasurySpring and Upswot – with a view to integrating them into the platform later on.
Kyriba thanks all the participants in the challenge for their commitment and sporting attitude throughout the event.
About the winners
Trustpair is an all-in-one solution for detecting and preventing wire-transfer fraud. It helps mid-cap and major groups verify their suppliers’ bank details and automatically check their payments.
Sis ID is a French fintech company founded in 2016 that supports companies in the fight against bank transfer fraud.
within a single, secure, centralized repository, to protect their bank transactions.
About the other challengers:
TreasurySpring is a London-based financial technology company that is unlocking multi-trillion dollar short-term money markets through its groundbreaking Fixed-Term Fund (FTF) platform. Fixed-Term Funds offer clients a simple, digital way to minimise risk and maximise returns on excess cash holdings, enabling them to invest surplus cash in the same way as the world’s largest treasury teams at the click of a button, without any infrastructure requirements.www.treauryspring.com
Founded in January 2019, Upswot technology serves dozens of financial institutions helping them to build loyalty and grow engagement among their SMB clients.
The platform is a white-labeled business health dashboard which powers online/mobile banking platforms with 120 API-enabled apps. Using an approach similar to Plaid, SMBs connect their data for continuous, API-enabled access to QuickBooks, Xero, Salesforce, and 120+ other business critical SaaS applications to get accurate cashflow forecast, actionable inisghts, and personalized advice.
InfoTrie is a Financial Engineering and Consulting company headquartered in Singapore, with presence in China, India and Europe (France and UK), and a great pool of expertise in Information Systems, Artificial Intelligence, Financial Engineering & Quantitative Modelling.
It specializes in the development of proprietary Big Data and predictive analytics solutions, tTrading systems and trading technologies integration and business, Big Data and Financial IT consulting.
Their product offering includes:
Copper provides secure infrastructure for the institutional digital asset investment community.
All products and services are underpinned by an award-winning custody application, which is built using multi-party computation (MPC) encryption, and can be configured to support cold, warm, and hot wallet solutions.
Asset managers are further protected by the ClearLoop network, which enables off-exchange trading and settlement at tier-1 digital asset exchanges. An offering enhanced by the availability of uncollateralised lending. Copper's secure wallet architecture is available as a standalone application, a mobile app, and a browser extension for smart contract signing.
Kyriba empowers CFOs, Treasurers, and their IT counterparts to transform how they optimize financial technology solutions, de-risk ERP cloud migration, and activate liquidity as a dynamic, real-time vehicle for growth and value creation. With 2,000 clients worldwide, including 25 percent of Fortune 500 and Eurostoxx 50 companies, Kyriba’s pioneering Connectivity as a Service platform integrates internal applications for treasury, risk, payments and working capital with vital external sources such as banks, ERPs, trading platforms, and market data providers. Kyriba is a secure, scalable SaaS platform that leverages artificial intelligence, automates payments workflows, and enables thousands of multinational corporations and banks to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce operational costs. Kyriba is headquartered in San Diego, with offices in Dubai, Frankfurt, London, Minsk, Paris, Shanghai, Singapore, Tokyo, Warsaw and other major locations.
For more information, visit www.kyriba.com.