Societe Generale Announces Partnership with Kyriba

Societe Generale, a leading financial services provider based in France, recently announced that it has formed a partnership with Kyriba, a cloud-based finance and IT solutions provider, to launch a new treasury management solution including payment automation and fraud management functionalities.

According to an official announcement, the new solution aims to facilitate Societe Generale’s corporate clients and their subsidiaries. The French banking giant is planning to make treasury management smooth and easier through the cloud-based solution.

Societe Generale mentioned that the solution will be launched in the French market during the last quarter of 2021. The bank highlighted different functionalities in the upcoming solution including payment automation, fraud management and real-time monitoring of treasury positions.

Commenting on the latest announcement, Alexandre Maymat, Head of Global Transaction and Payment Services at Societe Generale, said: “Treasury management is a key area of focus for companies, and we believe it is essential to make this easier through simple, efficient and secure tools. This is even more important as we exit the current crisis and, depending on their size, some companies are poorly equipped in this area. With our open architecture model allowing us to offer our clients the best solutions on the market, it seemed natural to partner with Kyriba, whose solutions are known for their robustness and adaptability.”

In November 2020, Societe Generale announced its plan to cut 650 jobs in France, primarily in the investment banking division. Moreover, the bank announced major changes in its management during August 2020.

Features

In addition to the fraud management and payment automation functionalities, the upcoming solution will include multi-bank connectivity and ERP. It will be available on SG Markets, Societe Generale’s digital client portal for corporates. “We are very proud to join this strategic partnership with Societe Generale. The recent crisis has underlined the need for companies to manage Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term as closely as possible and to control and secure their Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term. We believe this joint solution will improve the way they leverage their cash and liquidity and become more resilient, more scalable and more competitive,” Edi Poloniato, Co-Head Banking Solutions for Kyriba, said.